We know how difficult it can be to keep on track with money especially when studying and completing and apprenticeship. Here are 6 simple tips to try and help you make the most of your monthly wages.
Cutting your monthly budget
No matter what stage in life you are at, you start to build up habits and monthly bills that are not always necessary. It is good to audit or check over your outgoings monthly, whether it’s the amount you spend on snacks or a subscription you no longer use, think about costs you can eliminate. Think about taking a prepared lunch to work or cutting down on the daily coffee bill. If you are a member of a gym or pay for amazon prime… if you don’t use it lose it!
Think before you buy
When you have just been paid it can be hard to resist a purchase. Money can burn a hole in your pocket. Train yourself to be cash smart but thinking about what you’re buying. If you see something you like. Leave it think about it and go back if you really want it but try to resist. If you can put money aside on pay day before you’re let loose on the shops. Also make use of the internet… you may find it cheaper!
Using a money jar
One of the most well know and underrated ways of saving is the money jar otherwise known as the piggybank. When you come home with spare change you simply just add it to the jar. It can be good to put this near your laundry basket (make sure you use one!) that way anything left in your pockets can be added to the jar. The best bit is you don’t have to leave the jar for a rainy day… fancy a chocolate bar, can of drink or magazine just dip into it and leave the bank balance alone.
Go for deals
Before you splash the cash make sure you compare prices and see if you are getting the best deal out there. You can also use companies like compare the market who offer half price meals or cinema tickets when you purchase your insurance through them. You don’t have to miss out on treats to save!
Eating out
Speaking of treating yourself, before you go to a restaurant go online and check for a voucher first. Or think about the reason you are going out. Is it a date night? You could try your hand at being the chef… save the money and get extra points for effort!
Cheaper travel
Think about your costs getting to and from work. Is there a way you can reduce this cost. A few ideas could be to car share with colleagues, applying for discount cards and rail cards or seeking a shorter more economical driving route. If you live close enough you could think about riding your bike to work just one day a week. Whether this saves you bus fair or petrol money it will all add up in the end.
