It’s perhaps obvious to say that most of us don’t live a life of luxury. Indeed, it’s true to say that the majority of us live only by what we earn, and that often isn’t a lot. This is the basic law of averages hard at work. The majority will not be thinking about when to add a new pool to our home. Instead, we will be checking the numbers and making sure we can pay off Christmas before our checks start to bounce. Yet, there are still ways to tip the playing board. There are certain things that you can do to ensure that your life and the way you live it are not too difficult. How easy or difficult life is can seem linked, unbreakably so, to how much we earn. But if you spend your money sensibly, even on a meagre paycheck you can live more comfortably. Let’s look at some of the basic ways that you can do this.
Cut Energy Expenses
Our costs are divided into two categories, between things we want and things we need. We think it’s fair to say that no one looks forward to the gas or electric bill at the end of each month. No one jumps for joy when they check the water metre level. But we do need these things simply for survival. That said, there is a way to make sure these bills don’t get the better of you and your paycheck. You need to keep tabs on how much you use and save where you can. Some people use the water they boil for tea and coffee as washing up water for dishes. While many will scoff at this, you would be surprised how much that could save you on your water and heating bill. You may also want to boil a kettle rather than waiting for water to boil on a hub. Particularly if you are using an electric hob.
Of course, if you are using an electric hob, you may want to switch to a heat induction model. This saves you a lot of energy because it only heats the surface of the pan rather than the whole ring. In fact, you should be looking at many of your appliances and checking how energy friendly they are. Laptops and computers often cost a fortune in electricity, but the latest models have energy saving settings built in.
And then, sometimes it’s just a case of making sure things that aren’t being used are switched off. For instance, we are all culprits of wandering out a room and leaving a light on. Perhaps it’s time to start listening to the voice of reason in the house – there is always one – telling us to switch them off and save!
Get The Deals
Perhaps you are struggling to pay for life’s little luxuries. But if you save more on what you need you can buy more of what you want. An example would be the weekly food shop. We all stock up our home with food and drink for the entire family. But, when out on the shop you should try to watch out for the deals. You would be astounded by just how much you can save if you pick up the deals that are available every day. As well as this, you may want to start price checking all purchases. We’re not just talking about the food shop, but everything that you buy could be price checked. If you find the best deal for everything, you will save a fortune. Don’t forget there are vouchers available online for those willing to look for them.
Avoid Owing Money
It’s all too easy to think about a bill and say, “I’ll pay it next month.” But this is a slippery slope, and you might find you have a mountain of debts that you haven’t paid. We understand the reasoning. It could have been a bad month, and you will push off the debt to be paid later on in the year. But you should be thinking about the worst scenario and that is if the situation never improves. Thinking like that, it makes sense to clear the debt as quickly as possible. The Personal Money Store offers a solution to this problem. They give personal loans to people who need them, and it’s a recommended option to keep your credit score healthy. Keeping your credit score healthy will allow you to get the best deals on mortgages and loans when you really do need larger amounts of money.
Set Up A Savings Account
It doesn’t matter what age you are; you should have a savings account. You can use this when times are hard. Or better yet, have it around as an investment in your future. You can speak to a financial planner about this possibility and the type of money you will need for your retirement. But for now, you just need to look at different savings accounts. You should aim to find the account that offers the biggest interest on your money with the most financial freedom. You need to weigh these two factors and find a happy medium. Ideally, it’s advisable not to lock the money away for more than a year and not to settle for an interest rate under one percent.
Budget Your Lifestyle
We’ve already briefly mentioned the idea of budgeting. That’s exactly what you’re doing with your energy bills. You will be controlling how much you spend so that you have more at the end of each month. You should continue to control and crunch the numbers until you are saving a lot each month. That way, you can spend it on whatever you like and live a little more luxuriously.
We think it’s obvious that you don’t have to be rich to live well. You simply need to understand how to properly look after your money and save. If you do this, you’ll soon discover your dream lifestyle is not quite as out of reach as you first thought.