This is a collaborative post by Ellie Jo with tips on saving money.
Do you feel as though you need to stretch your income more? Then you have come to the right place. Here you can find out the best way to make the money that you have go further, while also making sure that you are saving as much as possible.
image source: https://pixabay.com/photos/money-grow-interest-save-invest-1604921/
Freeze your Money Habits
If possible, you need to freeze your spending when it comes to your partner, your colleagues or even your best friends. There are many ways that you can make a group effort here. Try and avoid the inflated costs of drinking or even eating out, and have a movie night in.
You can easily have fun by purchasing some inexpensive wine or some snacks. Another way for you to save money would be for you to have a lowest spender competition with all of your friends. When you do this, you can then share with one another how you are cutting all of your costs.
Negotiate your cell phone bill and also make sure that you are saving as much as possible on interest rates too. Having a very good support network will also help you out.
If you want to buy a new handbag then try and take a photo of it and then text it to your friend. If you do this then you will soon be able to show your friends that you have good willpower.
If you are struggling with the cost of your property then try and look into wholesale properties where possible.
If you do then you may be able to pay less for the home that you have and sometimes this can give you the biggest savings of all. Make sure that you take your time when finding a new property, so you don’t end up in a situation worse than the one you’re in now.
Pay with Cash
We live in a very digital age. If you can you need to try and make sure that you are paying with cash as much as possible. Using physical cash might seem old-fashioned but at the end of the day, it can save you a small fortune.
If you can pay in cash for what you can, then this will stop you from impulsively spending. Try and put your cash into envelopes as well if you need some motivation. On the envelopes, write utilities, groceries, and more. You can then put a set amount in for luxury spending, such as if you want to go and grab a coffee.
Save as Much as Possible
Always look for different ways to save and never let good opportunities pass you by. Never make a purchase without first looking for a coupon or a code.
If you want to get started with this then try and make sure that you sign up with a rewards credit card program. When you have your card in hand, you can then take advantage of the savings you might be able to benefit.
Maintain your Cash Flow
Always have a consistent level of cash flow so you don’t have to stretch. Weigh out your wants versus your needs and look at the long-term goals that you have as well.
When you do this, you will soon find that you are able to curb your spending and that you also don’t get too wrapped up with making impulse purchases. At the end of the day, if you are spending more than you earn then this will go against you and you may even find that you struggle to put anything away.
Grocery Spending
Saving money on a day to day basis is way easier when you are able to stack your discounts. Grocery shopping is one of the best ways that you can save money.
One way for you to do this would be for you to stack discounts by visiting various websites. If you shop online for your groceries then you may be able to take advantage of this even more. If you get cashback from your bank as well then this will help you to save on top of that, so keep that in mind as much as possible.
Utilizing the above strategies will easily be able to cut your grocery bills in half if you’re smart about it.
Art of Negotiation
It doesn’t matter whether you are haggling over a new car or whether you are simply trying to seek out a raise at work because you need to make sure that you negotiate for a better price where possible. If you can do this, then you can save thousands without really trying.
Negotiate even when you don’t think you should. If you can do this then you will soon find that you never end up earning too little or spending too much. Never be afraid to ask, because you never know what kind of deal you might end up coming across.
Be Mindful
The key to stretching the value of every single bit of income you have would be for you to spend money on things that dramatically boost the value of your life. Stop spending money on things that don’t matter at all to you, and also make sure that you look to tomorrow.
If you love eating out, but have just as much fun sitting at home with a loved one then opt for the latter. When you do, you will soon find that you are able to save money and that you are also able to feel better about your expenses in general. Little things like this can work in your favor and it can also help you to reap the rewards of budgeting efficiently.
If you take these approaches when you can then you will soon find that you are able to capitalize on the savings you make and that you are able to save money easier than before as well. On an ending note, having the support of your family is always a good thing, so get them on board too if you can.
