It’s time to assess whether frugal living is now a part of who you are.
Now normally at the top of people’s lists of New Year’s Resolutions is something related to money. For the majority of us, that would translate to finding ways to make more money and save more money. Halfway through the year is a good point to stop and take a look at what you have achieved so far. Are you making more money? Is frugal living now a part of your lifestyle?. If you’re still feeling the financial pinch and feel like time is running out on you, don’t get discouraged. Here are four tips to get you back on track to finish the year off right.
Comb Through Those Expenses
I know what you’re thinking. There’s not enough time. I am just too busy. Well that is exactly what most businesses are counting on. That you are too busy to realise that you are being charged a little more than you should be for certain goods. It can be so easy to accept the cost of things without giving them a second thought but not for those targeting frugal living.
It’s very easy to do this. All you have to do is take the time to look at your expenses and identify where things can be trimmed. Some of the main culprits for taking advantage of your busy lifestyle are groceries, mobile phone contracts, TV and even toiletteries. It may be time to change your supermarket for example. Budget brands like Lidl, Aldi even The 99p Store are becoming more popular for a good reason. People are realising that they are simple paying more for a brand name and not for quality. Sometimes you will even find the brands you’re used to in these stores for less.
Another great tip is to use Ebay to source your non-perishable goods like toiletteries. You will find that these things can be up to 20% cheaper than the shops.
The ‘B’ Word
I know, you’ve hated this word even before you learn what it meant in your GCSE Business Studies course but it’s time to shift that perspective. It’s time to budget!
It’s so easy for people to get carried away with spending in credit driven culture. With so many lines of credit readily available to us, spending what you don’t have becomes normal practice. Budgeting can help you avoid this trap.
This step should follow on naturally from looking more closely at your expenses. Living with a budget can be quite freeing as it shows you what your money is doing for you and what you have to spend. All it would require is the use of a simple excel spreadsheet. Make it work for you and tweak it as you go. You’ll be surprised at how many leaks you discover.
Find Ways to Make More Money
Let’s be honest, Frugal living and expense cutting can only take you so far. At some point, you will need to increase what’s coming in. Yes, you can makes some cuts, as a matter of fact if you’re from the same school as Mark Boyle, you can cut out money altogether. Granted that might be too big a step for you to make at the moment. So it might be time to look for ways to make more money outside your normal day job.
The prevalence of work available online makes it possible to earn a handsome side income if you have any technical talent, ability to write, skill at design and so forth. Even if you do not have any of these skills you can still make money at things from walking dogs to cleaning houses to tutoring. Use this additional income and combine it with cost cutting and you can catapult your frugal desires exponentially.
Make Use of Daily Deals
I’m sure you would have heard of Groupon at some point over the last few years. They were the first of what has become a string of companies offering goods and services at massively discounted prices. The media may not talk about these companies as much as before. But they are still very much in existence and finding great deals for us every day. A lot of what they offer may not be seen as essential goods so might not be a factor in your frugal living budget, but every now and then they do have some great offers on essential goods and some of the not so essential deals are quite frankly to good to pass up.
Here are a few Daily deal sites for you to check out