Making our money go as far as possible is something that many of us try to do as best as possible. For the most part, it can be easily completed, for we are taught the importance of preserving our money from a young age. Following what has been a financially difficult year for many across the country, there is no doubt that people are still searching for ways they can make the most of their money.
There is no doubt that London is a bit more expensive than other areas of the country. While this is something that puts a lot of people off when looking to relocate, there are things that you can do to make the most of your money.
Whether you intend to move to London in the near future or are in the beginning stages of your plans to relocate, we feel confident you will be able to find something of value in this piece. Get yourself comfortable and read on! You will be making your hard-earned pounds go even further in no time.
Saving Where You Can
To ensure you have as much money as possible and ensure it goes as far as possible, you want to make a conscious effort not to overspend wherever possible. Being mindful of your spending will contribute towards your money going as far as possible. At the same time, that is not to say that you cannot treat yourself every now and again.
Setting aside specific days in the month where you treat yourself to food at a restaurant or choosing to do your grocery shopping at more affordable shops will significantly contribute towards your money going as far as possible.
Consider ways that you can make savings, both large and small. You should also work hard to make sure that your money works well for you. That means finding ways to boost the interest on your savings accounts.
Additionally, exploring the investment ISAs that are out there will provide you with the chance to make your funds go further. Stocks and shares ISAs provide interested parties with a certain level of interest rates while also offering a range of other benefits as well.
While this is undoubtedly one way to make your money go further, it is not the be-all and end-all, which leads us to the following point.
Ensuring Your Financial Security
It goes without saying, but London is a bit more expensive than other areas of the country. As it is the capital, this is undoubtedly expected, but it can still come as a bit of a shock to those of us who are not quite used to the higher than usual prices!
When first relocating to the area, you want to do what you can to protect your financial security and minimise the chances of you experiencing any hardship, much like we have seen throughout the last fourteen months due to the impacts of the pandemic.
With more focus than ever on how we can still access our income while unable to work, you should check out the range of insurance options available to you. At the same time, you should also consider what insurances exist with the purpose of protecting your income. Provided by Drewberry Insurance and a range of other organisations, find more details here.
Swapping Where You Shop
Naturally, when wanting to make your income go a bit further each month, you tend to assess your monthly outgoings to determine whether there are any places that you can tighten your belt in some way.
While this is undoubtedly an effective method for ensuring your existing money goes far, it could be something that is implemented in all aspects of your busy life, rather than just during times when you want to save money.
Particularly if you find that you visit a coffee shop every morning before work, consider swapping this for making a coffee at home and taking it in a travel mug with you. While it will add a couple of extra minutes to your daily commute, it will make a difference to your bank account in the long term.
And this is not to say that you cannot treat yourself either. Select specific days a week to treat yourself to a coffee or explore whether your favourite coffee shop sells coffee products for you to use at home.
While this was a short piece about how you can make your money go a bit further in 2021 and beyond, we hope it has shed some light on what you might need to do moving forward. Remember, what might work for someone else is not sure to work for you. Explore the options that are available to you, and find what works best for you and your circumstance.