2016 can be the year you learn to manage your money effectively. These five tips will get you off to a flying start.
Discover What Motivates You to Save--
If you need the motivation to save money, actively keep a diary of how much you have saved so far that week or month. Rather than it making you think you’ve done enough, you’ll start challenging yourself. Say it’s Thursday night and you’ve got $36 saved. You could aim to have saved $50 by Sunday night. There are a number of free money saving apps out there now that will help you to do this. Alternatively, if you love to shop, pick an item that you absolutely covet at the start of each month. You can even print out a picture and stick it above your computer. Every time you begin to get bored of saving and get tempted to spend, look at it to stay on track. This also works if you want to save up for bigger things, like a vacation. Don’t just say to yourself you’ll go. Instead, start looking at brochures and making plans. If you can imagine your vacation you will find it far easier to save for it.
Don’t Turn Your Nose up at Coupons; Enjoy Them!--
You don’t have to become a Coupon Queen, cutting them off the back of cereal packets like Granny use to. Coupons are a fantastic way of saving money. Companies are increasingly realizing that coupons are a great way of getting customers into the store. They’re out there for half-price meals or 10% off a new pair of shoes. Pair up with a similarly savvy friend to share links and tips. That way you’ll end up with double. You’ll be surprised how fast the savings stack up if you start couponing regularly.
Consider a Safe Loan--
There is no need to be scared of loans if you read the fine print carefully and understand the rules well. Spend (excuse the pun!) some time doing your research properly into a number of different companies, like this one here. Find a company with positive customer reviews and all the proper accreditations. Taking out a loan before you reach serious financial problems down the line could actually save you money.
Shop Around for Your Yearly Vacation--
There are so many vacation companies and travel providers out there these days, but that is a good thing for us. They are all competing with one another to get customers! So, if you want to book a vacation or trip, don’t rush it. Set aside a good amount of time to compare different packages before you want to book. If you have the time, compare prices over two or three weeks. Signing up to newsletters could also get you a money-off code.
When it comes to flights, Skyscanner is particularly useful. You can compare prices from lots of different companies. You can also see very clearly which is the cheapest time of the year or month to take your flight.
Upcycle and Renovate Items You Already Own--
Living frugally doesn’t have to be boring, and this article from Buzzfeed proves it. There are loads of fun ways to upcycle and renovate the things you already own. This includes clothes, kitchen items, decorations and furniture.