Tuesday, March 24, 2020

Be Money Smart

Being money smart is definitely something you should be thinking about doing during this time that we’re living in. You have to admit, the world is being flipped on its head and we know that being money smart is going to ensure we don’t feel too much of the pressure. If you live in countries such as the UK, you might be finding out you’re out of a job for a while, everywhere is shutting down. Who knows if the US is going to follow suit to such extreme lengths. What we do know, however, is that being money smart when you have a reduced amount of money is easier than you think. All you have to do is make sure that you’re being more sensible with how you’re spending it, and really cutting down on some of the luxuries that you might have. So, keep on reading, and we’ll show you how we think you can be money smart.

Cut Back On Your Outgoings

This is one of the ones that people are going to struggle with the most. When you get used to living life a certain way, it can be such a pain to try and change it and take some of those things out of your life that you love so much. Your outgoings are going to be ones such as your phone, which we know people can spend an absolute fortune on. You could use a Prepaid Bill to save money, rather than going for a big contract on a brand new phone. If money is really becoming tight for you, something like this is going to save a nice amount each month, money that could be used on shopping. You also need to have a look at your outgoings in general and see how much you’re spending on each thing. You never know, you might look and realize you’re signed up to lots of different subscriptions such as Netflix, Spotify, Soundcloud, Amazon Prime, or expensive TV box subscriptions. Cancelling most of them could save you a lot of money.

Change The Way You Shop

Smarter shopping is definitely needed during times like this. You need to be able to buy better and buy for less. Going to shop brand items is a great way to save money. You can literally cut a bill in half by doing this, but often people don’t like doing it because they say it tastes different. However, store brand items are better than they have ever been before for quality, and it saves a lot of money. Try and buy items that you can use in two different meals to try and save more money! 

Ration Yourself

Finally, make sure you ration yourself with anything else you’re spending. Don’t buy a ton of clothes every month, or keep going out and doing expensive things. Limit yourself to one thing a month, and the rest of the time search for free things to do. There’s so much we can do in life where we don’t have to spend money.

Compare Prices 

Comparing prices of things like insurance and cable providers was a challenge in the past. You literally had to go out and find quotes. Now, though, you can type “TV providers near me” into your search engine and get back a list of prices, allowing you to pick the best one. 

Strategies like this are a real boon for cash-strapped people. They allow you to get more for your money so you don’t actually have to go without - great for those who don’t want to cancel all their streaming services. 

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