The following article on how you can improve your finances was written by Sophie Andersen. She is a marketing expert and freelance blogger. You can know more about her my following Sophie on Twitter.
Nowadays, people easily sink into the abyss of debts and loans, which usually leads to further loans and credit cards, which drags them deeper and deeper into the black hole of borrowing.
Your account numbers written in red, interests piling up on your loans and overall ambiance of monetary debris –– if your monthly finances somehow looks like that, maybe it is time to think about changing something in your financial plan.
4 Simple Ways to Improve Your Finances
- Write down your monthly expenses and make a budget plan
Start with a simple list of items that you spend your money on. There are some expenses that you cannot save on, like central heating if you live in colder areas, or air-condition if you are in the South. However, there are still many expenses that can be cut. Visualizing what you need to pay affects your brain as some sort of a shock therapy and a threat. By exposing your sense of sight and the ability of cognition to the monthly budget of your existence, you force your mind to think and look for solutions. Also, having all expenses in one place helps you to easily identify your needs and wants, and you know what you have to do with the wants. Eliminate them for you to save more money.
- Save on energy
While we are all dependent on energy and it is hard to imagine living life without it, there is enough room in every household for considerable expense cut on energy. For instance, if you drive your children to school and there is a school bus picking kids up in your area, it would be wise to try skipping one month of the car-drive and see how much you have saved. The saving might be positively surprising. If you don’t want to save on your children, think about other solutions. For example, you can save money on electricity. Turning on the washing machine only when the electricity is cheaper and turning off household appliances when you are not using them may cut your electric bill significantly. Also, when spending a longer period of time away, plug out all your appliances completely (except your fridge) and see how much your bills change.
- Buy online
The Internet is the most revolutionary invention ever since Johannes Gutenberg made it possible for ordinary people to read printed books. What people used to look for in printed catalogs is now available online. There are even sites that use data from supermarket sites that can help you compare prices, and makes choosing the best options for you look easy. So, you can just sit down, take your time and search thoroughly for the best solutions to give your salary more air. Sitting comfortably in your living room helps you avoid impulsive buys and gives you a complete insight on the things you need.
- Plan and time when you shop
Shopping malls tend to be overcrowded on weekends, since most people are free then and they use that time to go to the mall with the whole family. However, this means a lot of rush and often lack of some stuff that might be on your buying list. In order to keep your budget balanced it would be wise to go shopping in the evening, after you have studied all the offers and compared prices online. In addition to going shopping in the evening, it’s advisable to only shop on weekdays, when there is no rush and enough items are provided. Shopping is sometimes like a disease and it can really harm your finances. Always remember to be wise and you should not get carried away by the shiny ads and offers. Stay rational and practical to keep your finances in a good condition.
Those are just some of the ways you can improve your finances, but the best thing you could do to improve it is to improve yourself first. You’re the one making the decisions in your life, right?
Now, let’s end this post with a quote, shall we…
“Money will come when you are doing the right thing”
– Mike Phillips
Photo Courtesy of Horia Varlan