Budget hacking to improve financial health

Nowadays money can save us from the difficulties, but can also become a problem. If you do not know how to plan your budget and are tired of using easy payday loans, you better to reconsider some financial habits. Happily, we can share some hacks to improve the financial condition.

1. Pay cash. Determine the particular sum of money, which will be available for you during a month to spend on groceries/entertainment/clothes/etc. Try not to exceed the limit. To put yourself in stricter self-control use cash instead of debit or credit card. It may seem difficult, but soon, you will identify your weak spots and be able to resist them.

2. Use the smartphone. If you still prefer paying with a card, you must know some apps, which can be helpful for your budget. There is a wide range of them - the ones that earn points, provide a cashback, save the change, and track the expenses. Choose what you like or use them all.

3. Walk more. If your office, school or college are in 20 minutes walk, limit the usage of transport. Drive or take a taxi/bus when the situation is urgent. Thus, you will not only save the costs for a cab, parking, and gas. But such an activity is a good exercise for the body.

4. Be attentive. You cannot even imagine how much money you waste for unnecessary items. Some of these are subscriptions or memberships. If you attend the gym once a week, it is probably not beneficial to pay for the monthly pass. Look into your expenses, try to find something you do not use and stop to pay for it.

5. Carpool. However, your work or study might be far away from home and you cannot do without your car, use this fact as the opportunity to gain some money. Carpooling with your colleagues and mates will save you a substantial sum. Moreover, feeling of the responsibility will make you show up on time and adhere to a schedule.

6. Do not hurry. When you intend to buy something unusual or expensive, think twice. Wait some time to understand if you really need such an item. Wait for a day to realize if the purchase will be reasonable.

7. Do not be shy. The best way to save some money is to ask for a discount. The sellers are usually likely to provide discounts if you pay cash or in advance. If you are a regular customer, you can also expect a reduction from the price. Even a small discount can save you a fair sum in the long run.

8. Plan your day. Often we spend extra money on morning coffee and snacks. Eating somewhere outside is more expensive than at home. That is why you may prepare your meals beforehand and eat them during the day. As well, going to the groceries store, do not forget to make up the list, in order not to buy unhealthy and high-cost foods.

9. Get a company. It’s troublesome to save money while your friends spend their cash like there is no tomorrow. Suggest an idea to help each other and you will definitely find the sympathizer. Thus, you can support and encourage each other.

10. Dream. Always remind yourself why you need to handle your earnings and spendings. Achieving the financial goal requires great effort.

You should not deny your needs, but you can change your habits in a better way. Look around and find some ideas on how to save funds. Cut down the purchases which harm your physical and mental health. Do not fall for advertisement. Review your budget regularly. Anyway, be creative and keep pursuing your dreams!

October 10, 2018
by @martinerose
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