THURSDAY JANUARY 18, 2018
 
Blog HEALTH
EASY LIFEHACKS TO GET YOUR FINANCES IN ORDER IN 2018
coins.jpg

It’s that time of year when we’re all trying to work out how we can earn more money in the coming year. With a bit of effort, you can actually save a lot more than you think without it affecting your lifestyle. If you can save money without it feeling like hard work, that’s pretty much the same as earning more, isn’t it?

 

CHOOSE THE RIGHT HABITS

The easiest way to change behaviour is to replace bad habits with good habits. This goes for spending too. If we can swap expensive habits for cheaper habits, it won’t feel like hard work. For example, you might eat at expensive restaurants often. But there are lots of cheap restaurants that serve delicious food, and let’s face it, you can have as much fun at a cheap neighbourhood restaurant as you can at a five-star establishment.

 

KEEP GOOD TRACK OF MONEY

To put a plan into action, you need to know where your money really goes. We often make certain purchases (coffee springs to mind) without thinking about them. Because we don’t even think about them, we don’t realise how much of our budget they use up. There are all sorts of apps you can use to keep track of your spending. If you know where every cent goes, you’ll have a much better idea of what habits you can change.


JOIN LOYALTY AND REWARD PROGRAMS

You can also save a lot by effectively using a credit card loyalty program. By doing a little bit of research you can find the card with the program that suits your lifestyle best. That means when you can make purchases you would be making anyway, and get rewarded for swiping your card. Don’t use the card to buy anything you wouldn’t be buying anyway – that would defeat the purpose.


SAVE BEFORE YOU SPEND

A very effective habit to get into is saving before you spend. We usually aim to put money away at the end of the month. The problem is that by the time the end of the month comes, there's nothing left. So, rather put money aside as soon as you get your paycheck. Open a separate savings account and make it as difficult as possible to access - you could leave the debit card with a friend or relative. Set up a debit order so the money goes into that account as soon as you get paid, and then work out how to get through the month with what’s left.


ap-finance.jpgCONSIDER INVESTING

If you have any interest in investing at all, you should join an investment club. Investment clubs will teach you about investing and keep you focused on saving. Being a member of an investment club will change your attitude to money and turn you into a saver instead of a spender. And the best part – while you’re at an investment club meeting you won’t be spending money. One of the great things about getting into investing is that you can turn a spending habit into a saving habit. Instead of buying clothes or DVDs, you can buy shares and other investments.

Saving has a lot to do with your attitude and habits. If you can turn spending habits into saving habits, you’ll start building up your savings without it feeling like hard work. And when you see your savings account or investments begin to grow you’ll be even more motivated to carry on.

0 Comments | Add a Comment
POST YOUR COMMENTS
*Your Name:
*Enter code:
4fh2l
* Comment:
TORO FEATURED VIDEO