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In hard times like these, it’s not that uncommon to have some financial difficulties. It seems like one question is going through everyone’s mind: how to save some money? Whatever the reason for the fact that you’re strapped for cash, there are almost always some adjustments you can make to improve your financial situation. If you feel like your wallet has some black hole in it, know that you’re not the only one. We give you 7 tips on how to get yourself out of this ungrateful situation.
1. Make a list when you go shopping
By now, you probably know that stores are organized in such a way that makes us buy, thus spend more. If you go to the store to buy one thing and end up buying ten other items- you might really benefit from this tip. Plan your shopping. Make a list of all the things you need to buy- and stick with it. Don’t get sucked into “oh I might need this in future”, because you probably won’t and you’ll spend money you didn’t plan on spending. And yes, never go to store hungry. You’ll buy a bunch of food you don’t need, thus spending more money than intended.
2. Plan your expenses
At the beginning of each week (or month, whatever suits your better) sit down with a pen and sheet of paper. Write down how much money you have, and how much you can spend, and specify the amount for each category. Keep a table of your expenses to make sure you don’t overspend. Each day you update the table. If you spend more one day, you’ll know to spend less the other day. That’s how you stay on budget.
3. Use hard cash
Credit card companies have undoubtedly gone their way to make spending as easy as possible for us. Credit cards are only the symbol of the money we have, and you probably won’t feel the seem if you see a card that has $10 000 on it, as you would if you saw that money in dollar bills. That’s because dollar bills are not abstract. Many people are strapped for cash due to their lack of awareness when it comes to the amount of money they spend. Furthermore, you’ll find it harder to give away the dollar bill than you would by swiping your credit card.
4. Declutter your closet
You know that there is a bunch of clothes you’ve worn only once (or never), but you never seem to decide to get rid of it. How about organizing your closet, and keep only the things you know you’re definitely going to wear. Put the rest of the clothes for sale. There are tons of pages online where you can put your clothes up for sale. You surely have clothes that you don’t like as much as you did, that someone else would love. Why not take advantage of that? All the money earned put in your savings jar. By doing this, you’ll keep your closet neat and organized, and you will obtain some cash. It’s a win-win situation.
Let’s take a moment to appreciate the Internet for a second. There’s no excuse for being uninformed since you can access any information you want with just a few clicks. Be wise with this one, and turn it into good use. You can find a tutorial online for almost anything in this world. Whether it’s about fixing something (that’s not too complicated, of course) or making crafts. Many things that we buy are the things we could make ourselves if we put just a little bit of effort into it. Instead of buying things, find out if there is a way you make it yourself. And who knows, if you get really good at it, you might start selling it to others. That only means more money.
Decide what the most important thing that you NEED to spend money on is. Make the hierarchy and stick with that. It’s often we spend money on things we don’t actually need, and then we lack money for the things that we do need. Prioritizing your expenses can be extremely useful. Whenever you pick something up and plan on buying it, think about where does that stand on your chart. Do you really need it, and why is that. That way you’ll stop yourself from rash decisions that might cost you more than you planned on.
7. Find side gigs
Of course, extra money always comes in handy. It can really save you when you’re strapped for cash. Finding side gigs shouldn’t be that hard, but if you don’t have any idea where to start, here are some ideas. You can drive for Uber or Lyft. However, if driving isn’t really your cup of tea and you’d prefer to earn some dollars from the comfort of your own home, you can always try Jobs2Shop or Survey Voices. Furthermore, you can try dog walking if you’re an animal person. Whatever it is that’s right up your alley.