Who doesn’t need more money? I mean, really – there is always a bill that needs paying, or some new must-have make-up range being released. And hey, Christmas is just around the corner – that just about obliterates everyone’s finances, so we start the New Year with nothing – or worse – less than nothing!
Today, we’re going to look at different ways of making money, saving money and getting the most out of your money … this time next year, we could all be millionaires!
The first step in working out how you can save money, is finding out where your money actually goes. Start tracking your spending. Every single penny needs to be accounted for. You can do this in a variety of ways – a notebook is the simplest one, just jot down every purchase you make. Be brutally honest – sometimes this will be hard going, reading back your habits, but do it and do it properly.
You could go one stage further and create a spreadsheet, if spreadsheets are your thing – they’re not mine, but some of the She Might be team LIVE for spreadsheets… don’t they Sophie??? For those of you that like planners or bullet journals, how about a spending tracker? Plus point for this is, you can customise it any way you want, tailored to suit your own personal needs.
Just the essentials. Food. Household bills. Travel expenses – which, by the way, do not include that takeaway coffee and artisan croissant that you grab as you dash through the station every morning. That’s not a “need”, that’s a “nice to have”. You know what’s nicer to have? A healthy bank balance and less stress about debts. Choose wisely. Is it cheaper to take sandwiches to work than to grab lunch from a supermarket or a works’ canteen? I’m a big fan of taking left-over dinner for the next day’s lunch – second day lasagne is mighty fine, and preferable to a limp sandwich that probably cost four times as much, from a garage forecourt on the way into work.
There are a whole raft of online sites now that will help you save while you spend – from member discounts, to actual cashback and flash sales, special offers, if you sign up for a few, you can watch the rewards roll in. I would not consider switching my insurance or utilities provider now, without surfing through the cashback sites to see which is going to give me the best deal. There are apps that you can use to compare prices in seconds – always worth checking!
We all have too much stuff. It’s a modern day curse. But one person’s junk is another person’s treasure and there are a myriad of ways to decrease your clutter and increase your bank balance. Just pop the name of your town and the word “sales” into any social media search engine and see how many selling pages are available. Stop – don’t look too closely, you are selling, not buying, remember! These sites are ideal – people will come and collect your unwanted stuff and you will have the cold hard cash in your hand, without having to go to the bother of posting it out.
It is always worth spending time searching online for the best possible deals. Can you transfer the balance from your credit card to a 0% interest card? The amount you are saving in interest will help you clear the debt quicker. If you need some money in a hurry – and we all have those unexpected emergencies – you might want to consider a consolidation loan, or a short-term loan – there are lots of places now that specialise in loans for bad credit. Check the small print and work out what is affordable for you.
Are you a whizz with a sewing machine? People are always on the look out for dressmakers to do clothing alterations, or to make curtains. What can you do in the time available to you? A bit of weeding and lawn-mowing at the weekends? I would pay someone to do that! Ironing? Dog walking? Baby sitting? Maybe you love crafting or photography – there are several handmade sites where you can sell all things that you are currently creating just for fun.
Don’t work harder, work smarter – make your hobby work for you and it won’t even feel like work!
Challenge yourself and see how good you can make your bank balance look come January 1st.