Every season brings new reasons to spend money and chip away at your hard-earned savings. Summer calls for endless outdoor activities, cool drinks, and picnics in the sunshine, whereas winter heralds the beginning of the festive season, and the need for warm company, clothes and food. It can seem like no matter the weather, your budget is barely stretching far enough to plump up your savings. It can be hard to know where to cut back and what to change in order to boost your funds but begin with these simple tips and you’ll be on the right track.
1. Polish your budget
The first step to take when giving your finances a makeover is to re-evaluate your budget. It’s really difficult to save money if you don’t have a clear idea of how much you need to spend with every paycheck. You may currently have a budget that you think works really well, but if you’re struggling to save money, it may not be as effective as you think.
2. Ditch the money drains
The next stage of sprucing up your finances involves getting rid of the unnecessary expenses in your life. If you’re a gym buff who spends a large chunk of their life exercising, great! By all means, don’t cancel your gym membership. However, if you rarely go to the gym, or stream movies on Netflix, or listen to music on Spotify premium, consider deactivating your account(s), as you’ve been throwing away money recklessly.
For some people, eliminating things from the budget is not as easy as cancelling a music subscription, and that’s where being realistic comes in. It’s completely fine to treat yourself, but consistently living beyond your means won’t make you happy, and it won’t solve your financial woes either.
3. Shop around for the best deals
If you’re thinking in-depth about your expenses, and whether or not you’re wasting money, it makes sense to figure out if you’re getting your money’s worth with the important stuff. The internet will be your best friend with this one, so spend some online time looking for the best offers. Fortunately, with the today’s consumer society, the competition is fierce in all categories. For instance, if you’re thinking of doing up your bathroom this year and following the latest trends for 2019, you will be able to find some great deals on freestanding bathtubs.
4. Get the important stuff in order
Once you’ve conducted some research and you feel sufficiently educated, make sure to cover all the essential bases. Organise all your insurance premiums, your super and your debt repayments, and make sure you’re on top of the big, yet unavoidable expenses in your life.
5. Do some planning
If you’re feeling blue at the thought of cutting back on expensive activities, never fear! There is a heap of low-cost and free things you can do by yourself or with friends, as long as you do your research. There is always something going on in your city or town, so keep an eye out for cheap (free), interesting events that you would enjoy. Use your imagination, and don’t be afraid of trying new things as well. Also, consider asking friends and family for their recommendations, as they’ll give you an honest review of what to hit and what to miss.
Even though most people are overspending in winter, that needn’t be you this time! Follow our tips, and you’ll find the beginning of 2019 pretty enjoyable.