Do you find your finances go out quicker from your bank account than when they got in there? Struggle to make ends meet and find you’ve spent most of your money within minutes of getting it? Whether it’s a paycheck or pocket money, here’s how you can make your money last through the month!
Firstly, you can check out Lisa’s recent post on GGF about biblical ways to look after your money.
Making a budget can give you a clear plan of what is to come during the month and how much money you have left over to spend as you wish.
Firstly, work out how much you get paid from jobs, allowances, student finance or any extra income. Then note down all the outgoings that you need to pay for in the month (e.g. lunch, travel costs, subscriptions or memberships, savings or tithes etc.).
You can also put down things you know you need to buy in that month, such as birthday presents, clothes or events you are going to. Once you have worked out your income subtract those outgoings, the money left over is what you have to spend on what you want.
I usually like to divide this sum by four, so I know what I have weekly to spend, but you may want to keep it as a monthly sum or work out daily what you have to spend. There are plenty of apps on phones or tablets as well that can help you budget!
Cash rather than card
When it comes to having a spending allowance, some people find it useful to have the cash in their purse rather than using cards. In a world today where we can make a purchase on a contactless card or phone in seconds, it can be easy to keep tapping that card and not really see the money coming out of our accounts.
When you pay for things with cash, you physically can see the money leave your hand and know how much you have left to spend. This tip has really changed my spending habits!
Squeeze every penny
There are so many ways to save those pounds and pennies! Look out for retailers or businesses with loyalty cards, sales and discounts (follow their social media accounts or email newsletters). If you’re a student, get a hold of the NUS card for plenty of discounts.
Use websites that list vouchers for shops and restaurants, and seek similar and lower-priced alternatives to your favourite things through Amazon, Ebay and shops like TK Maxx and charity shops.
Create your own things, from beauty products, gifts, lunches to clothes and homeware (find inspiration from Pinterest and YouTube). The list is endless to living life for less!