How to make essential savings on your everyday costs

As we make our way out of the financial crisis, many of us are feeling the effects as we look to hold onto every last penny in our wallets. There are ways that you can look after your budget without having to go to extremes however – here are a few everyday habitual changes you can make that may seem small, but will make a big difference.

Screen Shot 2014-09-11 at 11.25.58 AMTake a look at the ‘little extras’ in your budget

With the best will in the world we can all sit down and try to plan our finances, but often, we can overlook – or even deny – the ‘little extras’ in life that gradually begin to add up.

Next time you’re out and about, think to yourself: “have I budgeted for that coffee?” It might seem like a couple of dollars here and there, but if it happens on a daily basis, you would be surprised how much it mounts up. By all means it’s fine to have a little treat every now and then, but don’t try and kid yourself but not having a ‘miscellaneous’ item in your budget.

Put a limit on your vice spending

Life wouldn’t be life without having a little fun every now and then, and just because you’re living on a budget, it doesn’t mean you have to skip on these little vices altogether.

Drinking, socializing and gambling can all add up, but if you set yourself personal limits before you start, you can help yourself hugely in the long run. When it comes to drinking socially, take out a set amount of money when you go out and agree a limit – do not betempted to take out a credit card, which will only serve to increase your spending. If you’re a gambler, you can impose limits too, not only with money but with time – playing online is far better for this, with sites like Casino Saga giving you the opportunity to turn off when your time is up.

Make sure you’re getting the best deal

There’s a reason why there are so many comparison websites out there – they really work! Many of us just accept our utilities bills without thinking about it, but take the time to sit down and do your homework on your household expenditure. Whether it’s car insurance, electricity, gas, internet or anything else, the markets are getting more and more competitive nowadays and will be competing to give you a better deal – so head to sites like Money Supermarket to make sure you’re saving money.

 

 

 

 

 

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