We can all be a little guilty of waiting for payday. For some of us, once our bills have been paid there isn’t too much left for any luxuries or treats. But this is where many people are not utilising their monthly income enough, making savvy choices and saving money where they can. So I thought it would be a great idea to share with you some of the ways you can make your monthly income work harder. Perhaps making daily life that little bit easier on the financial side. I hope it inspires you to make some positive changes.
Make savings on the bills you can control
There are plenty of outgoings that just can’t be controlled. We have mortgage or rent payments to adhere to, energy bills to pay and food to be bought. However, for some of those essential outgoings, they are in our control and yet we do nothing to make potential savings. This is where you are throwing money away. It doesn't pay to be loyal these days, so often changing providers for things like broadband and energy can save you quite a bit each month. Just make sure you take advantage of introductory offers to keep those costs down. Another essential outgoing we can control is food. Often things like meal planning or food preparation can save you a fortune on food and wastage. Just make more informed choices and watch the savings mount up.
Regularly check your accounts online
Many of us can just let those amounts leave our account each month without truly knowing who we are paying. However, checking your account could unearth money being debited for things you no longer use or need. Many people subscribe to various things online or join establishments like gyms. The decide those things are no longer for them. But yet forgetting to cancel any direct debit means that money still leaves your account. Checking your statement enables you to identify those payments and get them cancelled. Saving you a good lump sum each month.
Use codes and vouchers to keep costs down
Outgoings don’t necessarily just mean the bills. Things like clothes and socialising are all part of your expenditure. Keeping those costs down are simple when using things like vouchers and discount codes. Things like Target Promo Codes can help with essential purchases and keep those costs down. However, vouchers can also work for restaurants or general day to day purchases to. Some people save huge amounts using things like this.
Consider high interest accounts
Finally, if you want your existing income to work harder for you, then you may want to consider changing your bank account provider. Often, banks these days can offer you a high interest for keeping funds in current or checking accounts. Even if it is only there for a few days before your debits start to come out, those days are earning you a higher interest than they would have previously. It’s always worth considering what your options are.
I hope this has inspired you to make more of your monthly income.