Financial responsibility is not easy. Nobody ever feels like they have enough disposable cash and the world is full of far too many things that we covet. We live in a consumer society where profits are king which is a fancy way of saying our salaries are never enough to match our desired lifestyle. But there are ways to improve your lot and, if nothing else, to help ensure that there is less month at the end of the money than before. Here are some handy tips to help you squeeze things more value out of your pay check.
Consolidate your debt
Debt of any kind is a killer. If you owe money and you are paying it off – and we are talking things like credit card debt and higher purchase accounts here, then the interest rates are punishing and you inevitably end up paying back much more than you should. Find a way to pay off all your debt such that you only owe one single lender. Search for something like personal loan online Australia and you will find companies that specialize in these types of loans. Take their money, pay off your debt and then make the payments on quick loans Australia so that you know exactly what you are paying monthly. Once you have done that, commit to not spending any more money that you don’t have.
So often it’s not the everyday things that land people in debt, it’s the unexpected costs that you had not planned for. So start making plans. It is unreasonable to think that you can make it through a whole year without incurring medical expenses, or vehicle expenses. If you celebrate Christmas you know that come December you will need to splash out for gifts. Or a vacation… you can’t expect to fund that exclusively from the salary you get in the month you want to go away. No, you need contingency funds for rainy days. And it might sound boring or overly practical but there is nothing more comforting than knowing that when you suddenly have to put a new set of tires on to your car that it won’t impact on your monthly budget.
Analyse all your monthly expenses and see which ones can be reduced. You might be surprised to find that they all can. Things like insurance might seem like they can’t be challenged, but the reality is that it’s a very competitive industry. Get some comparative quotes and be prepared to move. You would be surprised by how many companies would be prepared to better or match rival quotes in order to keep your business. And the savings might not be huge, but they add up and pretty soon it makes a difference.
If you are going out, take cash. People tend to spend too much when they hit the town. When you are trying to impress you tend to spend more money and if you have had a few drinks the inhibitions are definitely less. So don’t put yourself in a situation where you can just keep on spending. Travel with cash, take what you can afford to spend and enjoy yourself in spending it, but once it is gone, know that it is time to stop. An evening of fun doesn’t need to have financial consequences for months to come.