Affording Life Is Hard, So Let’s Work On Making Your Money Go Further

Affording to live in the current climate is a pain in the behind. In today’s society compared to a couple of decades ago, we make less money and have to pay more for things. Even though the numbers are going up, when you look comparatively at the average salary and the amount things cost, it was easier to live in the 80’s/90’s than it is now. So, if you are currently struggling with your finances, know that you are not alone.

So, what can you do? The best option is to look at everything that you can do, and start working your way to making your money go further. It’s not easy when you have to make some changes in the beginning, and you might not want to do this at all, but we promise that this is for the best. In this article, we’re going to be taking a look at some of the options, so make sure that you’re reading carefully.

Set Yourself A Strict Budget

First thing that we’re going to say is that you need to set yourself a strict budget. This can be a massive pain for those who are not used to living this way, but we promise that it’s the best way to move forward with the way that things are right now. In this budget, you need to include all of your incoming money, and all of your outgoing expenses. You need to sit back and write this list down, ensuring that you’re not missing a single thing off the list or else your budget is not going to be accurate. 

When it comes to your list of outgoings, make sure that you are rounding up to the nearest whole number. It makes far more sense to have some pennies leftover at the end of the month, as opposed to just scraping by, or not having enough. So, the next whole number ensures that you are never going to be short on your bills.

Setting a budget is actually pretty simple, but it’s sticking to it that is going to be hard. Ensure that you are updating your budget to reflect your financial situation as and when it changes. 

Look Through All Of Your Bills

The next thing that we recommend is that you look through all of your bills, what you are paying, and see if there is any way that you can lower them. For example, if you look at your electric bill and you think that it’s looking a little high, then it’s a good idea to look at other providers and see if it’s going to be cheaper. There are likely other providers who are able to offer you a better price than what you are currently paying, and you could even tell your provider you are thinking of leaving and they may lower your bill themselves to make you stay with them.

If you do this with pretty much all of your priority bills, you can save quite a little bit of money per month. Then do this with things like your internet and phone provider, and that’s a little more cash for you as well. Going through all of your bills regularly is the best way to ensure that you are getting the best possible price for what you are using.

Work On Paying Off Your Debts

Paying off your debts is an important part of working towards making your money go further. When you have the noose of debt around your neck, it can feel like you’re never going to get into a good financial position, so getting rid of it should be your number one priority. We understand though that debts are tough to pay, which is why they are debts in the first place, so you’ve got to start working through those. It’s not going to be easy, and it might even wipe you out some months, but the quicker that you can get this done, the better.

If you call your creditors, explain to them your financial situation and what you can afford, setting up a payment plan to ensure that they are paid, they are more likely to be lenient with you. Things happen, things change, and at the end of the day, these people and companies just want their money back. As long as you make the payments that you need to make, that’s all that matters in the end, right?

Spending On Transportation

How much money on average would you say that you spend on transportation? Is this a necessity? If you have a car, how much are you spending on fuel and do you really need to? Would it be cheaper to perhaps take the bus or walk to where you are going. We do understand that this is not always feasible and we’re not suggesting you force yourself to walk miles and miles, but it’s an idea for when you’re not far away from where you want to go.

Fuel is expensive, and taxis are expensive, so you want to do your best to spend as little here as possible. The less you spend on this, the more money that you have for other things that you enjoy, and for saving. Think about this, and work out what is doable, what is not, and the best way forward.

Making A Little More Money

Of course, if you want to make your money go a little further, then having more money is going to be massively helpful. It’s tough to make this happen, especially in the economy that we live in at the moment, but it can be done. You can work overtime at your job if they have some available which is usually paid at a higher hourly rate than your contracted hours. Normally this is time and a half or double pay depending on the day and time that you are working. This is the best way to make some extra cash.

Sometimes this is not going to be an option though so you’re going to have to figure out something else. For example, you might decide that you want to sell your old phone, that you want to sell your old clothes and other items you’ve got to make some more cash. There are sites online that help you do this, so you don’t have to worry about it getting complicated. 

Simple Swaps Can Help Massively

It’s also worth noting that there are a lot of simple swaps that can help you massively. For example, if you swap from luxury brands to cheaper brands for some things, you should be able to save quite a good chunk of change. There are some things we’re not willing to swap, and that’s okay, but the things that you don’t mind, and the things that you don’t even really think about? They can go in favour of something a little cheaper.

At the end of the day, it’s important that you’re doing whatever you can to make your money go a little further. You don’t want to be one of those people who are constantly struggling for money when there are simple solutions right in front of your face. We’re not saying that it’s going to be the easiest thing in the world, but remember that financial situations always change. Your situation today might not be your situation tomorrow, which is both a blessing and a curse, depending on which way the wind changes.