Now that the weather is sunny, it’s smart to start thinking about saving for a rainy day. It can be quite a challenge, especially if you’re young and keep running into unforeseen expenses. Some of these can take your piggy bank completely by surprise and eat off your holiday savings, shoe savings or just hard-earned money in general – unless you include a few money savvy habits, that is.
Automate your finances
Does it feel like your piggy bank has a leak in it? We’ve all been there; the money you so painfully put aside a few months ago seems to be running away from you. It’s no point feeling guilty about it; just make sure you have some actionable steps ready for next month. If one of your problems is that you keep forgetting to pay your bills, then this advice is for you. Take advantage of the technology and set up direct debits on the bills you pay every month – that way, you can forget about them without feeling guilty.
Look at your bills
After setting all of this up and feeling good about yourself, it’s the perfect time for going through your bills. If some of them are a lot higher than others, negotiate them first: is it possible to get a better deal with another provider? Do I really need it? Both your gym membership and Netflix account deserves a long, hard consideration if you want to feed that piggy bank.
If you do need it, pick up your phone and give them a call to ask for a better deal – the only thing you have to lose is paying the same amount next month. They, on the other hand, could lose you as a customer. Internet, phone, energy; all of these providers have competition which you and your wallet could benefit of.
Find the best deals
This is advice I constantly try to remind myself to follow. Every time you do grocery shopping, you could earn a few points and eventually save money on your next shopping. Even if you don’t think you’ll save a lot – imagine the savings you could have made if you just got that loyalty card a few months ago as you should have. Browse online for the best shopping deals, get the best daily sweepstakes here from sweepstakesdaily.com and watch your piggy bank grow – slowly but surely.
Look at your rent
Most people spend up to half their earnings on renting a home – if you want to save money, a lot can be found here. Maybe you’re living in an expensive area? Look at the neighbourhoods around you and consider moving to a cheaper one – even ten minutes away could make a difference at the end of the month. By the way, you can do some major savings within the household too; read this article for some excellent ways to save money at home, too.