In 2016, the Telegraph published an article “Britain is a nation that has forgotten how to save” and at the time it was very true. Is it still true? Are you one of those Britons that just can’t save? One would hope that has changed by now. If nothing else, it makes one think about saving, which can be hard at this time of the year.
It’s that time of year, isn’t it? It’s the time of year where the blur of the festive season has passed and you have survived, thanks to the quick cash loans available to you. It’s the time of year when people have stopped whining about January being the “longest year ever”, and everyone is in the thick of it. People seem to be generally relaxed into the idea that their finances are what they are: tight. Does this mean that you have to accept that your finances are limited or are there things that you can do to ensure that they improve?
How to Improve Your Finances
The good news is that there are a few tips and tricks that you can learn that actually help to improve your finances. Below are 7 helpful tips to boost your financial situation.
1. Figure out the details.
It’s almost impossible to improve your financial situation if you don’t know exactly what the situation is. It’s time to print out your bank statements, grab a pen, and make a note of every single expense that you are paying for. Then, make a list of all of the non-essential expenses that you could actually afford to cut out of your life. Methodically cancel services and cut out expenses that aren’t serving you.
2. Plan meals ahead.
How often do you end up buying ready-made meals on the way home from work or ordering take-out just because you don’t feel like thinking about what to cook for supper? Whether you are a single person or part of a family, this can take its toll on the budget. By planning meals ahead of time, you can head home from work set on cooking that particular meal (as all of the ingredients are there and waiting). Alternatively, you can cook a week’s meals ahead of time and freeze them. This is a great way to save on wasteful spending.
3. Stop asking for help and start DIY-ing.
How often do you pick up the phone and ask for a service provider to come in and do a repair, carry out a quick fix up, or give you a hand? Unfortunately, this costs, every time. Start spending some time on YouTube and DIY websites to learn how to handle your own repairs and fix-ups at home.
4. Opt for pre-owned over new.
It’s nice to buy new things. Think about new couches, new cars, new clothing, new mobile phones…but is this really necessary? In most instances you can find a pre-owned item at a fraction of the cost of a new one, meaning that you can get the things you need without it costing you.
5. Invite people over instead of going out.
Entertainment can be a drain on a tight budget. You want to go out to see your mates and enjoy a meal or a drink, but if you have to do that a few times a week, it’s going to become costly. Instead of heading out to the local pub or restaurant with friends, invite them over to your home for a “bring and share” day or evening. This cuts back on the cost of the meal and drinks and ensures that you aren’t in an environment where over-spending is easy.
6. Reduce your spending on essential services.
There are undoubtedly expenses in your life that you cannot do away with. That doesn’t mean that you have to pay the price you always have. Look around for service providers who can provide you with a more affordable service. Make this a meticulous task and ensure that you negotiate as much as you can with costs. It will be worth it when you experience relief on your budget.
7. Make money-saving a habit & cover unexpected expenses with quick cash loans.
If you are serious about boosting your finances, you need to be consistent about it. You cannot save just once and then never again. You also cannot consistently dip into your savings. You need to have a money-saving mind set in everything you do. The UK Money Advice service provides a wealth of information and advice on how to save money and how to make it a habit. That being said, if you need a bit of extra money for an unexpected expense or for a project that requires more cash than you have, consider quick cash loans from an unsecured loans provider. These loans pay out within 15 minutes, are available to people with a less than perfect credit score and are typically available in amounts between £100 and £5,000.
Improving your finances isn’t something that takes time. It is rather something that takes intentional effort and attention to detail. Put the above 7 tips into practice and watch how your financial situation starts to improve.