How To Make The Most Of Your Money

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This is a collaborative post.

We often seem to spend money much quicker than we earn it. In fact, as soon as your paycheque enters your bank, it can seem as though your money is simply begging to spent – whether that means you begin planning your next family holiday or buy more than you need at the supermarket – it can be easy for your spending to get out of hand. 

Therefore, it is important that you find a way to reign in your spending and make the most out of your money. Here are some tips you can use to get started! 

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  • Write down a list of everything you need to pay for each month, such as bills, transport and groceries. Then, put together a realistic budget to cover these costs and ensure that you stick to it wherever possible. 
  • Use budgeting apps to help you stay on top of your budget. They can provide you with a warning if you are about to overspend and are a great way to visualise your goals.  
  • Each time you get paid, move a small amount of funds into a separate savings account. This means you are less likely to spend more money than you really have to spend – as it will be a little harder to access. Remember that is also never too early to teach your kids to save. Get a free kids debit card for them to put their allowance into.
  • Find ways to cut back on spending in your everyday life. For example, you can save money when buying fresh produce by shopping at local markets instead of the supermarket and only buying products in season. 
  • Use price comparison sites to find out if you are overspending on your energy bills. For example, you can sometimes receive a substantial discount by switching provider. When possible, ensure that you are supporting a company with strong environmental policies. 
  • Consider switching up your mortgage to ensure that you have the right mortgage for your needs. For example, you can protect your finances by switching to a Reverse Mortgage, which can provide you with some extra money without having to sell your home. This is particular useful if you are nearing retirement and have no plans to sell your house but want to capitalise upon your assets. 
  • Whenever you shop online, be sure to do a quick search for any discount codes before you hit that purchase button. This could save you a great deal of money for minimal effort.
  • If you have a hobby that you could monetise – its time to start making money from doing something you love. For example, you could turn your side hustle into a steady stream of income in just a few simple steps. 
  • Whenever you are buying items such as clothes, consider shopping second hand. This is better for the environment, discourages the production of fast fashion and can also save you a lot of money in the long run. 
  • Looking for some new furniture for your home? Don’t buy it; DIY it! Though hard work, designing and crafting your own furniture can save you a great deal of money – and it can be a lot of fun, too! 

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