If your outgoings are dangerously close to, or exceeding, your income due to credit card bills and other factors it might feel almost impossible to consider saving. However, it’s important to have an emergency fund you regularly pay in to, not least for the peace of mind this offers.
Compare credit cards
If you regularly use a credit card but fail to pay off the balance in full each month, interest rates can soon take their toll. It might, therefore, be a good idea to compare credit card deals to find a more preferable rate. Some products also offer 0 per cent on purchases for a certain time, which can be a great way to spread costs without paying a penny more than you need to.
Take your own lunch
Preparing your own lunch is not only better for your bank balance than purchasing a packaged sandwich daily, but it can be healthier and tastier too. Buy in some lunchbox supplies at the start of the week and in no time at all you’ll notice the extra cash in your wallet. It also means you can spend your break relaxing rather than queuing at the shop or takeaway! Similarly, if you struggle to start the day without a caffeinated kick then invest in a flask or cup and start brewing your own before you set off to work.
Have a clear out
Most of us have items in our home that haven’t seen the light of day in years or, if they’re lucky enough to have avoided the attic or cupboard, are doing little more than gathering dust. As the old saying goes, one man’s trash is another’s treasure so see if you can get rid of it for cash. Doing this is easier than ever with websites such as eBay and Gumtree and there’s always people browsing the classifieds in your local newspaper to find a bargain. Even if you only get a little for it, it frees up room and gets it out of your way.
Change your commute
Car sharing is growing increasingly popular in certain areas, thanks in no small part to the rising costs of running a car. Making such a move will also benefit the environment and give you a bit of company as you commute. So why not find out if you’ve a colleague who’d be willing to take it in turns to drive or use one of the various websites set up to bring together people willing to car share?
August 30, 2013 – 1:37 PM - | Posted in Financial | 1 Comment »