So like a very large proportion of the population, times for you are probably now harder. The days when you could comfortably afford to eat out and buy whatever you fancied are drifting away – in a river of ‘not quite enough cash’. So what do you do? How should we best approach this uncomfortable dilemma? Inherent in our upbringing is a belief that we should now become ‘frugal’ and ‘careful’ and mimic our wartime past of ‘mend and make do’. But is it really a good idea to take up the frugal banner? Obviously, taking control is an important factor in improving any difficult financial situation, alongside honesty, in the face of difficulties you have. But do you really have to live a low standard of life and eat less?
Preparing a budget is a fairly obvious method in determining just how far short or adrift you are. It is totally essential to do this research in order to fulfil the honesty requirement – to successfully navigate money saving waters. You can’t improve the finance of tomorrow – if you don’t know the finances of today. To achieve this aim it is probably necessary to draw up a list of essential items – desired items and luxury items. You must work out what you can do without and what you must have. Now you must look at this list again and determine whether any of these are purchased out of habit? This is a tricky question, as many times you will consistently buy things or leave things on a direct debit or roll over – without really questioning whether they are really relevant to the life you are living now.
One new method might be to try and avoid supermarkets chains for shopping. Sounds ludicrous right? But you could swap your favourite grocery store with wholesalers, independent shops and discount stores. Bulk buying of groceries and other items are beneficial to help saving money, as most of the stores provide 10-20% discount on bulk buying. Wholesalers can offer you huge discounts on catering sized tins of coffee, pasta, and fruit juices etc. Discount stores also offer great savings on domestic products and toiletries. Also, this will shift your shopping pattern and encourage you to think about exactly what you need – no more drifting endlessly around a supermarket store waiting for the products to come to you.
Also, have you considered the buoyant world of discount vouchers? Places to go where online shopping is cheaper by virtue of simply researching the internet for codes? The great thing about voucher codes is that they offer discounts on whatever you’re purchasing. So whether you’re buying garden equipment, shoes, bags, clothes, groceries, or camping gear, there’s a good chance there’s a voucher code out there somewhere, to knock dollars off your purchase.
The downside is that you might have to hunt for the relevant voucher code. But if you know where to look, this shouldn’t be too much of a problem. Voucher codes can simply be entered in the specified box at the online checkout. Remember, these voucher codes are for online shopping only (unless there’s a print out voucher attached for use in store). So don’t bring the code along to your nearest supermarket thinking you can use it at the checkout.
If you’re going to use voucher codes, make sure you copy the code exactly as codes can be case sensitive – so if there’s a capital letter at the start, copy it. Also make sure you check exactly when the deal expires and what the terms and conditions are – sometimes codes are only valid for new customers, for example. Unfortunately, the codes you find won’t always work – sometimes they have been pasted onto websites incorrectly or have simply expired. You might be amazed at how much you can save – and once you’ve started using voucher codes, you’ll never look back!
In addition, there are some fantastic websites out there that gather the best prices and advice for money saving on the internet. Moneysavingexpert.com offers a great selection of new ways to secure better opportunities for you money – both saving and spending.
On and above these options there are some very basic steps which will help save you money without you really noticing – in the long term.
Avoid the “carpe diem” mentality. This great phrase can lead towards the river of despair. But, whilst you must enjoy life and always to the fullest, you do not have to seize the day so much, that you are still paying for it the next decade. Impulse buys, trips, vacations and other “me” items should be paid for in cash, based on a specified allotment of expenditure you give yourself. Once your monthly cash is gone, the spending stops and so does your fear of opening the credit card bill next month.
Keep your car properly maintained – with the hike in fuel prices it is essential that you service and keep your engine tuned up – to avoid fuel loss. (Links to oil, filters, air fresheners…)
Replace the bulbs and tube lights of your house with CFL or LED bulbs and tube lights. This is energy efficient and can reduce the electric bill. One should also switch off the electronic appliances if not in use. People often forget to turn off computer, television or music system when they retire to bed, this increases the electricity bills. Also, remember to challenge the price of your utilities provider at every opportunity – you will never know when a better offer is just around the corner.
Empty your wardrobe and place the out of season clothes in storage containers. Then, evaluate your wardrobe and make a new list on the items of clothing you really need to buy. With this list you will avoid the random purchases often made when the seasons change, the temptation of filling your wardrobe with more items that you don’t actually need.
Finally, and most importantly, don’t be frugal – be free – enjoy the control of knowing how best to spend and how best to save.
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This content was provided by MyDeals.