Given that it’s January, most of us have spent the last few weeks pondering what we want from the year ahead. There are some common themes that define the aspirations of 90 percent of the population, and most of these center around finances, our careers, and our personal relationships.
‘Spending more time with friends and family’ is a big one, as are ‘getting on the property ladder’ and ‘securing a promotion’. Perhaps the most prevalent, however, is ‘saving more and spending less’.
Luckily for you, the latter is one we can most definitely help you with. Here’s how to do it in three simple steps.
Create a budget
It may sound as dull as dishwater, but it’s time to sit down and plan out a budget. In order to reduce your expenditure, you first need to know where your money is going, and how much you have left over to spend once the necessities are out of the way. Thankfully, it’s a whole lot simpler than it sounds. You’re going to start with two columns: your income on the left, and your essential outlay on the right. The latter should include only what you have to pay out to live – for example, your rent, your monthly fuel costs, and so on. Subtract this from the money coming in each month, plus the amount you want to save, and you’ll be left with an important figure: the amount you can safely spend on luxuries and non-essential items. Exceed it at your peril!
So you’ve had your eye on a new mobile for the past two months and now you’re ready to buy. Before you go any further, stop. We want you to ask yourself an important question: can I get a better deal elsewhere? If the answer is ‘yes’, you know what to do. If the answer is ‘I don’t know’, do some research. This is the same process you ought to be following any time you’re planning a purchase, no matter how large or small. See how far your money can stretch and you’ll definitely have more left over come the end of the month.
Look around for special offers and promotions
We understand budgeting can be challenging. It sometimes feels like it’s sucking all of the fun out of your life, so we fully recognise that there are times when it’s going to go out of the window. On these occasions especially, be sure to look around for special offers and promotions. This is just one more way to cut your costs, so whether it’s a gym membership you’re hungering after or a quick flutter online, it’s important to see who can offer you the best deal. Let’s use the latter as an example. Sites like RealMoney.ca are a great resource, because they list lots of different casino providers and plenty of special offers for you to compare. Right now, one of the options is Party Casino Canada, which has a welcome bonus for those looking to keep costs to a minimum. Shop smart like this to save yourself some money.
When it comes to scaling back your expenditure, it really is small and seemingly minor steps that can make all the difference. Be clever, approach your objective logically, and you should have much more money left over come the end of the month.