Save money. That is what we all wish we could do more of. What if I told you that you could be allowing money to leak out your pocket? Yes you.
There are 5 top areas where money is spent on. Most times without a second thought of the implications to your budget.
- Takeaway meals
- Buying lunch or snacks while at work
- Paying for a digital television subscriptions with channels that you never watch
- Not shopping around for utility tariffs and paying more on your bill
- Indulging in too many takeaway coffees
If you have part time or a full time income then it would be advisable to look at budget planning.
There are 4 main categories that items (such as the five listed above and perhaps you can think of more) could fall under.
1| Things that are bad for us
What do you enjoy the most?
Snacks, coffees, eating out, shopping. Think of things where you find it hard to say no.
Try and substitute for a cheaper alternative. Or see certain events as treats and have them less often.
If this is something you struggle with, then maybe using a cash weekly withdrawal limit will help so you don’t use your card without thinking.
2| Things we don’t use
Do you have subscriptions you don’t use?
Gym, television, magazine subscriptions are sometimes one of the biggest wastes
Check your bank statement regularly and if you see you paying for something that is simply not used or beneficial. Consider cancelling it.
3| Things we put over for another day
Are you too busy to compare and shop around?
Something that all of us are guilty of. We allow bills, contracts and utility tariffs to auto renew.
If we shopped around, we might save a great deal of money. Take some time to think about how you could tackle saving in a positive way.
4| Things we find difficult to deal with
Is making a change one of them?
You may be wasting money simply because you don’t want to deal with the matter of managing money.
Plan ahead. Keep updated with your bank balance. Remind yourself of extra costs and bills that could creep up. Consider ways to plan meals ahead. Confront your money indulgences. Are they realistic?
The Money Advice Service have numerous useful resources for you to check out, including a helpline.
Money Saving Expert is very practical and you will find most if not all the questions you need to know about money saving and more whether you are a student or pensioner.
The bible has much to say about managing money. Firstly we are to honour God with our money [Proverbs 3:9-10] because both riches and honour comes from Him [1 Chronicles 29:11-12] Then remember it is ultimately God that gives you the power to make wealth [Deuteronomy 8:18a] So be diligent with your resources [Proverbs 21:5] And give generously to others in need [Ephesian 4:27-28] Only the love of money becomes a root of evil [1 timothy 6:6-10] Making man greedy and stirring up conflict. [Proverbs 28:25]
#blogboost Day 7 of the Ultimate Blog Challenge