Regardless of how bad your finances are, you can always turn things around. Doing so starts with 1 firm step in a better direction.
If you believe this 1’st step should be related to cutting down expenses, then the following list will definitely prove helpful. Regardless if you’re struggling or are pretty well off, using some of the following tips, the ones that apply to your life situation, will help you have a fuller wallet and less financial worries:
- Change bank accounts to increase your interest and gain the latest perks.
Banks are constantly handing out offers to stay competitive and attract new clients. If you browse through their offers, you are bound to find some with great interest rates for new customers or even a sign-up bonus you can use.
- Stop watching television.
Television is a bigger drainer of your finances than you may think. Besides the electricity bill, it exposes you to countless adds which encourage spending. It drains your energy and it uses up your time, time you could use to make money.
- Sell your collections.
Some people collect things thinking it would one day make them rich. However, as the collectors of Longaberger baskets and Beanie Babies found out, most collections lose their value over time instead of gaining it. If the value of your collection is questionable, you’re better off selling it than paying more to expand.
- Customer rewards programs are your friends.
This is a common strategy retailers use to attract clients, and you as the customer, should take advantage of it. Ask the shops you often visit about such programs and get on board.
- Make gifts instead of buying them.
Homemade gifts don’t have to look cheap. They can be just as good, if not better than stuff found at the store. Cookies, cakes, and food in general is an easy pick, since they’re bound to be tastier and healthier when home-made. But you can also check various guides online for gift ideas that are both functional, stylish, beautiful, and relatively cheap to make.
- Learn patience
The desire for instant gratification is the source of most bad spending decisions, and you should avoid it like a financial plague. Refrain from buying anything right away, and for major expenses, give yourself a 30 day down time to make sure you actually need it. More often than not, after a month, you’ll realize you’d rather just keep your money.
- Shop from a list
This is a very common advice that’s very commonly ignored. If you’re trying to save money, you may want to buy your groceries and other necessities from a supermarket. However, do so from a carefully planned paper list made back at home. The supermarket is purposely designed by its owners to make you feel like buying more stuff. Enjoy the deals, but resist the temptation.
- Why go out when you can invite your friends over for a visit?
Eating out is a great way to obliterate your entertainment and food budget in one trip, if that’s your aim. In any other situation, inviting your friends over is always the superior idea. Better yet, eat at home and go out with your friends on a walk across town. It’s refreshing and free.
- Fix your clothes instead of throwing them away.
Pajamas are an unnecessary expense when you have old clothing you’re about to throw away. Patch up the damage and use them around the house. Broken buttons and some ruptures can even be fixed without leaving any marks on the item.
- Don’t spoil your children with expensive things they can’t appreciate.
You don’t need the latest remote controlled car to entertain your children. Especially if they are young, a big box and some crayons will prove far more effective. Children do not crave toys, but your attention. As long as you are there sharing in their fun, they will remember these moments with a smile.
Click here for part 2.