When it comes to money, most of us wouldn’t think twice about treating ourselves.
Whether it’s a breakfast bagel on the way to work or a few drinks with friends at the pub. Whatever it is, these “micro-spends” all add up. If you’re the type of person who reaches the end of the month with a few pennies to your name, chances are you could be splurging on everyday spends. Luckily, there are ways you can better these spending habits in such a way that you can still enjoy the things you love without leaving you out of pocket. With that in mind, here are three things you can do to make your outgoings a little more manageable.
Keep all your receipts
With contactless payments, it’s so easy to just wave your card in front of the machine and leave with your purchase. The problem with this is that you often don’t consider this to be spending because the transaction is so quick. A few taps of your card here and there and before you know it, you’ve spent a noticeable amount.
To help avoid this, make sure you ask for receipts on all your payments. Keep these and at the end of every week total up the amount spent. This will give you a more insight as to where exactly your money is going and things that you can probably go without on an everyday basis.
Make a realistic budget
We’ve all done it; had an epiphany about the amount we’re spending and swear to stop all needless spending immediately. However, this is short lived and oftentimes unhelpful when it comes to practising budgeting skills. If you say you’ll spend nothing, you’ll inevitably end up going for lunch with a friend or visiting family for example.
Instead, give yourself some leeway in your budget. Plan out your month ahead and set aside an amount to spend at every event or occasion you’ll be attending. Remember to include things like travel in your budget and booking super off-peak tickets for things like trains will help to cut down on those last-minute price increases.
Making a realistic budget for yourself could help to stop you from overspending and means you won’t feel guilty for enjoying yourself.
Keep an eye out for savvy savings
A quick search on the internet and you’ll be sure to find an array of special offers or coupons to redeem. Similarly, making use of things like reward or loyalty schemes will allow you to cut back a small amount on certain purchases.
For example, if you love a hot drink in the morning, you’ll be pleased to hear that some coffee shops offer a free drink after you purchase a certain amount. Maybe you should consider getting a loyalty card with your favourite barista next time you’re at the counter!