These days it is almost impossible to live within our means. The cost of living has shot up, yet our wages are static. For those who have only just started their careers, salaries seem to be lower than ever. Still, there are a few ideas, tricks and tips to help you finance your monthly spend without having to give up any of lifes essentials.
Start by working out what you need to be earning. Now consider how you can raise your income to that level. If youre not sure where all your money is going every month, spend the next thirty days writing everything down.
You might find it easier to use an Excel spreadsheet to record your spend. You can then categorise it. If the spend was essential, such as an energy bill, then put it in one column. If you bought yourself a muffin from the cart, that might be better placed in the non-essential spend column!
To raise your income, you might consider changing your job. Alternatively, why not ask your employer for a pay rise? To do this, you might write a letter detailing how you have been a model employee, and contributed to the growth of the business. If you havent had a pay rise in a while, then you should be due one now.
You might have some time on your hands to be able to take on some additional part time work. Perhaps you have some special skills that you could put to good use. Could you train to be a personal trainer, music teacher or writer? These are all good sources of income for a few hours work each week. You could even bake your own muffins to sell at the office!
Next, consider your current financial obligations. Is it cheaper for you to change credit cards right now? Can you move your loan to a cheaper bank? If your credit history isnt great, then consider putting future purchases onto one of the pay monthly catalogues available to you. Spreading the cost allows you to keep up to date with all your financial obligations.
Have you ever tried selling anything? Most of us have at least one cupboard that is full of clutter. Some of these items could be worth a little money. Fashion, in particular, is popular to buy secondhand. As you start to replace items, why not try to sell old clothes online, or through your local classifieds ads?
Bringing your monthly spend down can be tricky, but its a good way to make your life more affordable. Go through your Excel spreadsheet again. Is there anything in that non-essential column that you could do without going forward? Do strip your sheet down to the bare bones. After all, where are lifes little pleasures? But do cut back a little to help create a little extra cash for any emergencies.
Life is expensive, but it doesnt have to be unaffordable. Take the time today to see just where you can make some savings. You might even be able to give your income a boost.