We don’t always know what life is going to throw our way and sometimes we find ourselves needing to tighten our belts. Some of us are born with the ability to budget and some of us find it difficult, but there are few things that all of us can do to make sure that we are as prepared as possible, and save ourselves a bit of money along the way.
When it comes to housing costs we generally pay monthly and it works out perfectly, but there are some costs that are much better budgeted for on an annual basis. For example, insurance will cost you more if you pay monthly than it would be paying annually. In addition to our yearly costs, there are some things you can manage much more effectively such as transport. Living in London, for example, will mean that public transport is generally a lower cost and preferred method of getting around, therefore leasing a car for the months that you do need to travel out of the area could be a sensible alternative to owning a car. Experts such as Vantage Leasing can help with this and they don’t charge a large upfront cost either, so their customers can manage their outgoings more effectively.
Luckily we have a wide range of options to choose from when it comes to our annual costs, shopping around when it comes to utility bills, or even seriously considering if we need all of the subscriptions we have on our list, means we can be more aware of our options. We can also be confident that we have done our absolute best to stay within budget. There’s nothing worse than a surprise cost that we just can’t cover. This also extends to how we carry out our grocery shopping and entertainment. Are there cheaper items? A more cost-effective payment plan or a trick that the money saving experts could help you with?
Look after the pennies
The old saying ‘look after the pennies and the pounds will look after themselves’ is popular for a reason. You can end up with a healthy savings account just by squirrelling away a small amount at a time. For example, when your evening’s plans are cancelled, you can put that money into your savings account instead, it all adds up, and before long you will have a great ‘rainy day’ fund, for those difficult days. This is something that parents are encouraged to teach their children because we all know what it’s like to be caught off guard, and having the money needed to deal with it takes a significant amount of pressure off the situation.
Obviously, everyone manages their money differently and looking at the various financial resources available to you will always help you come to a conclusion right for you, and we also need to think of the long term plans rather than just the day-to-day, but knowing you are saving money in every way possible is the ideal situation.