Categories
Spend Less

Tips on Reducing Spending

Many of us find it tricky to manage and wonder what we can do to reduce our spending. We might think that we have already tried everything and there are no other things that we can do in order to help. However, there may be some things that you have not thought of that might be useful for you to try. So it could be worth having a look at the suggestions below to see whether there is anything that you can change so that you can spend a bit less.

Compare prices – if we compare prices on everything that we buy then that can help us t o make sure that we are paying more than necessary. Obviously, it is really important to make sure that we are getting good value for money as well though. It is no good paying less for something that does not last or that we do not like. However, there might be a lot of things that we are paying more than necessary for. We may often compare prices in the supermarket, but it is worth doing this for everything that we are buying. This includes things like utilities, contracts, insurance, loans etc. We might often forget that we are able to change those and we could end up saving a significant amount of money by changing.

Shop less often – often when we go out shopping or shop online we will buy more than we need. Therefore, if we shop less often then it is likely that we will spend less. We will not be tempted to buy those extra things that we often pick up. Seeing things in the shops can be tempting and we pick them up, but online can sometimes be worse as we might need to spend a certain amount before we get free postage and so we may spend money on things we do not need to achieve this when actually it would have been cheaper just to pay the postage and not buy the extra items that we did not need.

Ask yourself if you need it – it is always a good idea to ask yourself whether you really need something before you buy it. It might seem like a bore, but it can just help you to make sure that you are not buying things that you do not really want. Sometimes we are tempted because something has a reduced price or because someone we know has one and that might mean that we buy it even thought we do not really need it and we could even regret that purchase afterwards. If we can return it, that might be fine but not all of us bother to return things.

Set a budget – it is also a good idea to set a budget. It can be great to work out what you have to pay for and then what money you have left to buy luxury things or treats. Then you can decide how much money you want to spend on these and you will be able to make sure that you do not spend more than you can afford.

It might seem a bit tedious to have to do these things if you want to reduce your spending. However, you will soon find that they become automatic or a habit and you will not really need to think about them. You will also benefit from the extra money that you will have a result, which will mean that you may not struggle to make ends meet anymore, not have to borrow or have money that you can put into a savings account.

Categories
Employment

Is it Best to Work for Pleasure or Money?

When we are planning our career, perhaps when we are at school or at college, we look towards something that we think we will enjoy doing. However, the reality often is that when we come to find a job, we either cannot find one that matches our expectations or we end up not really enjoying it anyway. We may end up in situation where we find that we are in a dilemma where we might have a choice between doing the job that we really want to and know we will enjoy or doing one that has a higher pay. We may be lucky enough to find both but a lot of us will have a dilemma to consider. There are different points of view on this and it is a good idea to think about some different perspectives so that you can make up your mind.

It is only money

There are some people that feel that money is not that important and they do not want to be a slave to it. They will just be happy with doing a job that they like and then managing on whatever pay they will get for doing that. This sort of person will tend to be pretty laid back about money and they will also be laid back about paying for things as well. If they live alone this may work out okay, but pressure to provide can come when people have a family to support, own a home or have loans to repay and they need a decent income to cover the costs of those. Then it might be that the money becomes more important than the job.

I need money to better myself

Some people feel like having money is a way of gaining status. This might come from pressure form their family or from themselves. It is easy to think that if you can afford to buy expensive things then it makes a statement about you and your worth. This is a shame as we do not need lots of things to be a good person. If we have the most fashionable clothing, trendiest décor in our homes and a big house, what does it really say about us? It is worth thinking about that. It could be nice to show off to others about what we have, but does it also make us happy? It is worth thinking about whether it really does have that much value to us or whether we might be better off spending the money on other things or even keeping it in savings to use for an emergency.

I can retire early then do what I want

Some people might like the idea of working really hard at a highly paid job and then retiring early so that they can have lots of years of not working. This can work out but to do this you will need to be very careful with the money you earn. You will need to decide on where you are going to invest it so that you have a good income when you retire. If you retire early then you will not be able to draw a pension, so you will need to consider what you will do instead for an income and make sure that you prepare for that. It can be tempting to spend more as we earn more and you will need to make sure that you do not do that as you will need to put that money aside.

I can learn to love what I do

Some people will work in a job they are not that keen on that pays well and just learn to like it. As it becomes a daily routine it gets easier to get used to the job and work out what needs to be done in order to make it enjoyable. If the money is good then this can be easier as you have some motivation for sticking at it.

Categories
Budgeting

How to Reduce What you Pay on Groceries

Many of us find that our supermarket bill can be one of the most expensive things that we have in a month. It can feel like we are spending too much money. There are things that might help in getting that bill down though. You may have a few ideas and may have already tried a few things but here are some that you may not have thought of that could be worth trying out.

  • Change supermarkets – you may really like the supermarket that you are with or you might think that you already shop with the cheapest. However, if you compare prices at different supermarkets you could be surprised. You may find that you are paying more than you need to. It could be a good idea to compare prices between the different supermarkets on the main things that you buy and you will be able to see whether you are paying more than you would in other shops. We might have an idea as to which supermarkets re cheap and which are dear but we may be surprised when we research it.
  • Buy unbranded – we can often be loyal to certain brands and assume that the supermarket brands will not be very good. However, we could find that the supermarket brands will be as good if not better and they are normally cheaper. Do check carefully and compare them as occasionally a supermarket brand will be dearer. You may find that for some items you will still prefer the branded items but it is worth a try.
  • Be careful with offers – often we can get tempted by the offers in the supermarket and think that they are worth taking advantage of. However, it can often be that the saving is very small or you are buying something that you would not normally buy. You may end up buying a few reduced things because they are cheaper, but buying your normal shop as well and eating those as well. Not only is this not healthy as you are eating extra but you will be paying out more money.
  • Compare prices– it is wise to compare prices within the supermarket. No only between brands but also compare items. So, if you are looking for a pudding, for example, compare the fresh cheesecake, with the frozen and the packet mix and the ingredients to make your own. Then compare that with an alternative pudding. Then you will be able to see which is the very cheapest and decide which you would prefer to buy.
  • Buy unprocessed – it can often be cheaper to buy unprocessed food. For example, it is cheaper to buy vegetables and roast them yourself then to buy a box of pre prepared veggies to roast. This can be the same with ready meals and sandwiches, where it is cheaper to make your own. There might be some processed foods that are cheaper, but this can be because they are made from poor quality ingredients. Take a careful look and think about whether you are happy to do a bit more cooking and save money as a result.
  • Do not buy bags – there is now a charge for carrier bags and so make sure that you take your own with you. This cost may seem small but if you buy 10 bags a week that will cost you £52 a year which would be better off in your pocket than in the bin. So, take a rucksack or reusable bags with you or reuse plastic bags that you have at home and save some money.
Categories
Make Money

Five Ways to Earn Money from Home

There are many of us that would like to make more money from home. This could be because we are at home caring for family, because we have restrictions stopping us from going out or we would like to be at home working when we have returned from our regular job. Whatever the reason, it can be good to know that there are actually now more opportunities to make money from home. The jobs may not pay as much as more conventional jobs but they can generate some extra income and you can relax at home while you are doing it. Below are a few ideas of ways that you can make the extra money.

Online surveys

There are many online companies that will pay you to do surveys. They tend to ask a few questions to see if you are suitable and then if you complete the survey you will get paid but if you get screened out you will not. The amount you get paid will vary a lot between different companies. Some will pay you even if you do not qualify but many will not. If you like doing surveys and find it fun answering questions about your opinion on all sorts of things this can be fun to do. You will find that you will have to accumulate a certain sum of money (perhaps up to £50) before you can get paid and so it can take years before you get a pay-out. However, if you are having fun while earning then you may be happy for the wait.

Freelance work

There are some websites where you can look for freelance work from home. There will have details of jobs in different areas and you will be able to see if there is something that matches up to your skills. For some jobs you will not need particular skills but for others you may need particular skills and you may need to prove that you can do the job. The amount of pay will vary a lot, so it is worth looking at what is available and what the pay rates are like to decide whether you think that you are happy to do the job for the price being offered. Sometime sit will be up to you to negotiate a good price and you may need to send examples of your work to show that you are worth it.

Buying and selling

It can be possible to make money buying items and selling them on at a profit, but you will have to do some research first. You will need to make sure that you will be able to make a profit by selling items on. It can very much depend on what sorts of things you choose to sell, whether you can sell them all and how cheaply you can buy them. It is wise to either do loads of research or sell something you already know quite a lot about. Think carefully about storage and also postage as sometimes postage can add a lot to the cost of an item and people may not be prepared to pay it.

Starting a business

Some people choose to start a business to make money. This can work but it is important to make sure that you do a lot of research first. Running a business is a lot of hard work and you will not make much money, if anything to start with. Make sure you are aware of how much you will need to get started and learn everything that you need to before you get going as you could find that you will be too busy to learn on the job.

Monetising your hobby

If you have a hobby that you are good at, then you might be able to make money from that. If you make things you might be able to sell them. Otherwise, you might eb able to write books about what you do or even produce instructional videos. The options will depend on what your hobby is.

Categories
Spend Less

Way to Spend Less with Ease

There can be a lot of us that would like to spend less money but it can feel like there is nothing we can do to achieve this. It can feel like the bills pile up and everyone needs paying and it can really get on top of us. However, you may find that there are a few techniques that you can use that will help you to be able to repay your bills much more easily.

Make sure you are aware of what you need to pay and when

It can be really easy to lose track of everything that you need to pay and when you need to pay it. If you have a good idea of this, then it can make it a lot easier for you to manage the payments. So, take a look at your bank statement and gather up your bills etc and write a list. It is important to include everything you pay out for regularly, how much you pay and when you pay it. So, you should include things like rent or mortgage, insurance, utilities, loan repayments, MOT, breakdown cover, contracts etc. All your standing orders, direct debits and things you pay regularly should be included. Also include things you have to pay for that you do not pay regularly like food, transport to work etc.

Make sure you are not paying more than necessary

It is well worth then looking through the list and thinking about whether you are paying too much for some items. It might be that you can change to another provider, supplier or retailer and spend less money. Get some quotes from other places to see whether you can still get the same service from another place and you could end up paying less for exactly the same thing. You will need to be careful that you will be getting exactly the same thing or that you are sure you will be getting good value for money.

Ask yourself if you need it

When you buy things it can be a good idea to ask yourself whether you really need the item that you are buying. This can be a really good exercise as it can stop you picking up random items and buying them if you do not really need them. We often get tempted to do this by good marketing in shops or by special offers and buy things without really realising that we have. It is not really our fault but if we can just ask ourselves if we need the item, then we will take stock and make sure that we are not being trapped in this way into buying things that we do not really need.

Hopefully, by trying these things, you will find that you can spend less money without going without things. Often, we associate spending less with buying less and that can feel like we are depriving ourselves of things. However, if we are buying the same things but just paying less for them then we will have more money but still the same amount of goods. Obviously, we could save even more money by buying less items and by checking if we really want them. If we are only stopping spending on items that we do not really want or need, then again, we have no reason to feel deprived. In fact having this extra money could mean that we will be able to treat ourselves to a few things every once in a while so we actually might feel more spoiled if we put any of these measures in place.