There’s healthy eating and gym memberships, new books and on-sale blouses and all sorts of other things. You could find yourself waking up one morning with a big fat ZERO dollars in your bank account. Sigh.
If you find yourself constantly short on cash, your lifestyle needs a change. Stop making excuses – take these tips on board and you’ll see your bank account gain weight, not lose it.
Save 10% of your salary in a term deposit
Term deposits may not offer the best return, but they do offer you something: the inability to touch your money. You won’t have the urge to impulse spend (because you can’t!) and you’ll even earn interest for saving. Just have it there as a rainy day fund, and set it to renew every month or every three months – that way, if you need expensive dental work all of a sudden or there’s be another health or family emergency, you’ll be able to access it fairly quickly.
Stop eating all that junk food
Don’t buy chocolate! Avoid the candy aisle completely. Not only are unhealthy processed snacks bad for your waistline, they’re bad for your wallet too. Grocery shopping is hardest when you’re hungry and don’t have a list, so be organised. Only buy fresh foods – it’s actually cheaper to use ingredients that are good for you!
Waste not, want not
Your mother was right: leftovers were made to be eaten for lunch the next day. They’re delicious, nutritious and they cut waste and costs. Don’t throw anything out unless it’s off. You can cut up vegetables from the back of the crisper to make a delicious soup, or a lovely garden salad.
Get out of the shower!
Cut your water and electricity bills by spending less time in the shower, and using a water-efficient shower head. Wash your clothes in cold water and reuse the bathwater on the garden. Try not to use the dryer and use a clothesline instead. Cutting costs is about minimising expenses where they can be minimised.
Head to the library
Grab a book, CD or DVD from your library instead of buying it new. It may seem simple and small but all those small purchases really do add up.
There are so many options now of what exactly to do with your money! Do you splurge on a nice pair of shoes? On a holiday? Or do you keep saving up for the deposit on a house or a new car? They’re all great, and the best part of all is that now you have options. Pick what’s best for you and what will make you happy.
Image courtesy of renjith krishnan / FreeDigitalPhotos.net