How to Spend Less Every Day

How to Spend Less Every Day

Spending money is something that is really easy to do. However, if we feel that we are spending too much, we want to spend less to pay off a debt or want to save up for something then we will need to cut down our spending. There are different techniques that we can use for this and if we cut down our spending every day then we should be able to reach our goal. We will need to do a number of things though, in order to achieve this.

Keep motivated

It is really important to remember why you are trying to achieve this goal. Make sure that you write down the reason and stick it somewhere prominent so that you can see it each morning. Perhaps on a mirror, the fridge or as a reminder email or message on your mobile device. Hopefully you will then start each day with an enthusiasm and determination to try your hardest that day to stick to your goal.

Compare prices

It can really help if you compare prices on everything that you buy. See what else is available, perhaps the same item from a cheaper shop, a cheaper brand or an alternative item that is cheaper. These will all allow you to spend less money. Simply looking at the prices of things can also help us to realise how much things are costing us and we may think twice about buying them if we realise how much they cost. This can also apply to things that we pay for by direct debit. It can be easy to forget about these but we can switch to different companies and so it is a good idea to compare the costs of these things as well and see whether you can save money. These tend to be expensive items as well and if you can find a cheaper alternative then the saving can be much more significant. This also applies to loans. Even if you have a bad credit rating then you could still shop around and find a loan provider offering you credit at a much lower APR.

Avoid shopping

It can be really helpful to avoid going to the shops or looking at things to buy online. When we do this we get tempted to buy things that we like the look of and so if we can avoid even seeing things that we might like then this could help. You will know how tempted you are likely to be and whether this is something that you should try.

Leave purse at home

If you do not have money with you then you will not be able to spend it. Therefore if you leave your purse at home when you go out, then you will not have the money available to spend. You may not feel comfortable without having any money, so you could alternatively just take a small amount of money so that you have some in case you need to buy something in an emergency or just enough to cover the items that you know you will need to buy and nothing more.

Set a budget

Many people find that it really helps them to set a budget. They do this by calculating how much money they have coming in as income and then working out how much goes out for regular bills. Then the rest of the money they set a budget for so that they can spend it in the places they need to. This can help you to monitor what you are spending and how much you have available so that you can make better decisions as to what you should be spending your money on.

Find something else to do

Some people enjoy going shopping. They find that it passes the time well and they get a great deal of pleasure out of it. If this is the case with you then you will need to think about whether there is something that you can do which will replace this shopping instead and something that will be cheaper as well. It can be fun to try out new things, perhaps going for walks in areas where there are no shops, meeting friends in their homes rather than in town and things like that.

If you can take steps to reduce the amount of money that you spend each day then those savings will add up. By spending less every day, even if it is just a small amount then you will make a big difference. You should also get into the habit of not spending so much which could really help you in the future as well. It will help you to be more aware of your spending and everything that you buy and hopefully you will start to think about whether you really need all of the purchases that you are making. It could take a lot of hard work and changing a habit is not easy. But if you keep in mind the reasoning behind why you want to make the changes then this will hopefully motivate you to keep your spending down and not feel like you are being deprived in the process of doing this.

Where to Get Help If You’re Suffering with Financial Problems

Where to Get Help If You’re Suffering with Financial Problems

If you have financial problems then it can feel that there is no where to turn to for help. For one thing you may feel rather embarrassed and feel that you do not want to really talk about it or you may just feel that you do not know anyone that will be able to help you. However, there are places that you can go to for help and many people use them, so there is no need to feel embarrassed.

Friends and Family

If you start to talk to friends and family you may find that there are some that have had financial problems and they might be able to help you. They may be able to give you some tips and explain how they sorted out their financial problems so that you can try out the same thing. Be careful how you approach them though as they may get annoyed if they think you are trying to get money out of them, perhaps by making it sound like you are expecting them to give you money. Make sure that they realise that you want advice rather than cash and you will hopefully be able to get some useful information.

Colleagues

It can sometimes be handy to chat to work colleagues too. It may be something that you would rather keep private, but it depends on how well you know them and whether you think they may have been in the situation themselves and have some useful advice. You could always be unspecific about your personal situation if you do not want to reveal too much information.

Financial Advisor

Financial advisors would be able to look at the financial products that you have and let you know whether there are any that would suit you better. They could find you ones that are cheaper and even help you to switch. This can be handy but you will normally have to pay them for doing this. They can charge a lot and you will have to pay them upfront. So, although they may save you money in the long run, you ma struggle to find the money to pay them in the first place.

Your bank

You may be able to go into a local branch of your bank and get advice form staff there. They may be able to talk through your finances with you and make suggestions about things that you could do which might be helpful. It is worth remembering though that a bank is a profit-making company. They make money out of people being in debt and so they may not be unbiased and they may not have your best interests at heart. This will vary though between banks and between the specific staff members that you talk to. They will also only be able to advise you about the products that they offer and there may be better ones available that they will not be able to recommend or will not know about.

Money Advice Service

The Money Advice Service is a free service set up by the government which provides free financial help. It also has a website and gives advice that can be used to improve finances. It has calculators and tools as well that you can use to help you with planning and tracking. There is also online and phone support that you can use for free which can help you. You will be speaking anonymously which means that you should be able to feel happy to discuss anything with them without any embarrassment. It is worth remembering that they help people every day and many will have similar problems to you so they will have no reason to judge you.

Citizens Advice Bureau

The Citizens Advice Bureau deals with all sorts of things but they have a debt and money section to help out anyone who needs help. You can find information on their website on many aspects of money and so you should be able to find something that will help you. You can get online support as well or you may wish to visit your local office to get face to face help. You will be able to find out online where your local office is, how to make an appointment and what to take with you.

Credit Union

Many towns in the UK have credit unions. These can be run by local groups or churches and may have restricted membership based on local or membership of certain groups. They lend money and you can have a savings account but they will also give advice about money matters. Some run classes but others will just give advice if you go in and see them. Do check their opening times carefully though as they do not always keep regular opening hours.

Websites

There are many websites that have information that you might find helpful. Although will not be personalised, you can come away with some general hints and tips that could help you. Sites like Money Saving Expert have information on different financial products and how to choose the best with a comparison tool as well as tips for getting out of debt. There are forums and message boards too which might help you to find people in similar situations that might be able to help you.