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How to Make Your Money Last Longer
How To Make Your Money go Further and Last Longer
Payday shouldn't really be called payday should it? I think it should be called "appearance day" because that's what happens. Your money makes a brief appearance in your account before being snatched away by everyone else.
So now that your money has been stolen by the landlord, gas and electric companies among other people, you need to find a way of making what money you have left, last as long as possible.
Always Get the Best Deal
Money saving Guru Martin Lewis says that getting the best deal is like "giving yourself a 25% pay rise. Always shop around for the best prices, no matter what you are buying. And with so many price comparison sites available, even ones for supermarkets, there is no excuse for paying more than you have to.
It's always worth that little bit of times that it takes to research prices, you could save a lot of money.
With the invention of contactless cards, it's even easier to spend your money now and not give it a seconds thought. All you do is tap the card against the machine, you don't even have to remember a number! But it is a panic on those times when the card does a security check and you do have to remember the PIN.
But it's so easy to pay on card, it's a little more difficult with cash, you have it, there in your hand and you can see how much money you are giving away. Paying in cash will make you a little bit more reluctant to part with it, particularly if you have larger notes, nobody ever wants to break a £20
Make the Most of the Things You Pay For
If you have gone to a hotel, take the toiletries, if you have had a meal at a fast food restaurant, take a couple of extra sachets. Buffet breakfast? Get your fill and take a muffin for the road. The point is, you paid for this, you're not doing anything wrong.
Shower at the gym and use their hot water instead of yours!
You pay a lot for the gym so you might as well get your moneys worth.
But there is a fine line between taking what's built into the price and stealing, don't cross that line.
Create Your Own Luxury
You might want to go and have a meal at a really fancy restaurant, but if money is tight then you can't afford it. How about creating a restaurant style meal in your house, lay the table and make it look really fancy, maybe light some candles and make as good a meal as you possibly can. Even if you can't cook, a £10 meal deal is still a lot cheaper than 2 meals and drinks at a restaurant.
Buy a reusable cup and take coffee from home, and bake cakes or pastries to stop yourself from wandering in to the bakery on the way to work. This could save you at least £4 every day, which over the course of a month adds up to around £80! That's a whole lot of money for coffee and a pastry!
Make a Realistic Budget
I often make a budget for the month, but it's not always a realistic one, so I go over it, and I really beat myself up about it. So now I have learned what a realistic budget looks like, I can stick to it a lot more easily.
Buy what you need to buy and then set an amount for "luxuries" and once that money is gone, it's gone. That's it, no taking any more out. Get the cash out and that way you will be able to keep track of your spending a lot better.
Learn a Skill
Whether it is cooking, baking, mending or sewing, learn a skill that could save you some money. With so many videos and tutorials online, you will easily be able to learn a new skill for free.
Cooking is a skill that could probably save you the most money in the long run, microwave and convenience meals might seem cheap, but they're a lot more expensive than if you learned to make those meals from scratch.
Don't be Tempted to Borrow
I have learned the hard way that you should only borrow money when it is absolutely necessary, it should be for necessities and emergencies, not luxuries. I used to use my credit card for things like wine and fast food.
I now realize that it wasn't worth getting into more debt for the sake of a KFC. So try to only borrow money if you have to and there is no other way around it.
Sell What You Don't Need
If you have anything of value in the house that you don't need, why not sell it? It's just sitting there getting dusty. Facebook sites are a great place to sell things because there is no fee for listing anything and you will get buyers in your local area. Always take proper safety measures when inviting anyone into your home to view things.
Pay All Your Bills First
Before spending any money at all on things you want, spend it on the things you need. Like rent, gas, electric etc. Get all of those bills out of the way and that way you won't get into any financial trouble and you will still have a roof over your head.
Look for Free Stuff
Find free ways to entertain yourself, go to free museums, art galleries or local events. Take a book or film out of the local library, films are a lot cheaper and they have some good titles.
You can find a whole load of ways to entertain yourself and other people for free here. Or you can have a movie night at home rather than paying cinema prices, get some popcorn and switch off your phones and have a film night for pennies, rather than pounds.
I really wish we had the same kind of coupon culture in the UK as they do in America, where you get pretty much everything for free if you're smart, but it's a lot more strict in the UK. But you can still use coupons to cut the cost of your shopping in half, but remember that it's only a bargain if you're going to actually use it!
You Can Make Your Money Last Longer
Your money can last until payday if you're smart about it, but it requires some creativity and a lot of discipline!