Sooner or later, we all have to fly the nest and that means being responsible for one’s own finances; some people manage money better than others and whether you are just starting out on your professional career or you are already on the management ladder, here are a few tips to help you reduce your outgoings and accrue some extra savings.
- Place a coin jar in the hallway – You can order a huge glass jar online and every evening when you arrive home, put all your change in the jar. After a few weeks, it becomes second nature and after a few months, the bottom few inches should be full of coins. After a year, there’ll be quite a lot and you might be tempted to start counting; if you are in need of some extra money for any reason, we recommend searching online for finance companies that offer personal loans at competitive rates. If you have the willpower, there will come a day when the jar is full and you can start the mammoth task of counting it!
- Stop making phone calls – We don’t mean you should stop communicating, rather than using the regular phone, you can make VoIP calls for free. There are a lot of free apps that you can use to make real-time video calls and when that phone bill comes in, you’ll be pleasantly surprised! Platforms include Skype, Zoom, Line, and Facebook – thanks to VoIP, we can talk to people on the other side of the planet, and it won’t cost you a single dollar! If you are looking for a secure digital payment gateway, WhatsApp has launched one.
- Pay credit card bills promptly – It is only when you are late with payments that you are charged interest; to avoid interest charges, settle up quickly and you are minimising interest. We do need a level of self-discipline with plastic and it is oh so easy to fall into debt, which can be a challenge to pay off. If you sit down and go through your old credit card statements, you will probably notice a few late payments and the additional interest you end up paying.
- Share work transport – Carpooling is a great way to save a little money; talk to your work colleagues and see who lives nearby, work out a schedule and you will all save a few dollars. You could acquire a mountain bike and get fit at the same time! Of course, it all depends on distance, but many people get on their bike instead of getting into the car to go to work.
- Use Google to compare prices – Whether it’s a new kitchen appliance or an auto component, Google can help you find the best deals; generally speaking, products are cheaper from the online supplier, as the e-store has minimal overheads when compared to a regular bricks-and-mortar retail store.
Money management is something we all have to deal with and we hope that the above tips help you to manage your finances and save a little along the way.=