Being sensible with money is such a bore. First, you decide that you need to save money, and next, you’re cutting chunks off your expenditure with a sweeping abandon akin to a knight swinging a roughly aimed broadsword (consider using Creditfix for extra financial advice). Entertainment can go. You’ll sit in and look at the wall for a few months. Food can pretty much go, too. You’ll live on half an apple and the dream of peanut butter. No more nights out, no more fancy nights in, and certainly no more gym subscriptions – you can run in the park.
The thing is, however, these things weren’t chores. They were the things you knew and loved. The things you did away from work, away from any nagging children or noisy neighbours or annoying overly-visity in-laws. Cutting out all of your escape routes simply isn’t sustainable. So, what can we do? The answer is to learn where to cut back on expenses without feeling the impact too much.
Select cheaper brands
This is one of those subtitles that says it all really. Selecting cheaper brands means you can still have wine and cheese and crackers or whatever it is your heart so desires, without going overboard on the price tag. A top tip for applying this tactic to real life is to stand in front of your usual purchases in the supermarket, and look down – in order to make more money, supermarkets put the most likely to sell items at eye level (chosen for their mixture of shiny packaging and attractive-ish prices). The cheaper items, in less shiny boxes, are stored on the lower shelves. So. Look down, compare the prices, and make an easy saving. Easy. But be careful…
Buy for the future
…although that last tip about buying cheaper brands still holds up, the longevity of the product is a factor that must also be addressed. Typically pertaining to white goods and other household appliances (or even pertaining to your car), this tip is simply to buy something that will last, saving you money in the long run. This doesn’t mean buy the most expensive laptop available, but it does mean to weigh up your options and perhaps select a product that isn’t cheap and flimsy, but isn’t needlessly expensive either. Find the middle ground.
Cancel any about-to-renew insurance subscriptions
This is usually a car thing. Did you know that you will get a better deal on your insurance approximately one month before your car insurance is due to renew? In the run-up to your due date, insurers hike their prices, knowing you have no choice. Set a reminder, buy a whiteboard and write all your renewal dates on it, or simply keep track in a spreadsheet. However you choose to do it, make sure you’re aware of when your insurance renewal dates are due, and be sure to shop around online a full month before the prices for your car insurance start to shoot up by the day.