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18 Things to do to improve your finances

Budgeting

18 Things to do to improve your finances

18 Things to do to improve your finances

Sure, there are lots of obvious ways to solve your money situation, but have you ever thought of these?

1

Plan a Budget - and Stick to it!

Photo by Alexander Mils on Unsplash
Chances are, if you’ve ever struggled with your finances, you’ve tried budgeting your money. An effective budget can really help you cut back on your expenditures. If you’re struggling with staying on budget, reminding yourself of your long-term goals, for example, a vacation can help you to get back on track.
2

Cancel Cable and Try a Streaming Subscription Service

Cutting your cable could be one of the best financial decisions you ever make. You could get a streaming service such as Netflix or Hulu for a fraction of the price. Sure there might be less to watch, but remember, quality over quantity!
3

Only Eat Out on Special Occasions

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We’ve all been there, a long day of work and cooking a meal for the family is out of the question. A trip to a restaurant seems so much easier. The truth is, this sort of spending is bad for your bank balance and should be avoided as much as possible.
4

Plan Your Meals

Photo by Tina Dawson on Unsplash
Knowing what you’re going to eat and when you’re going to eat it can help you reduce on food waste and save money in the long run.
5

Stop Using Your Credit Cards

Photo by Blake Wisz on Unsplash
Helpful in the short-term, potentially crippling in the long-term, credit cards should be avoided like the plague. High interest rates are never a good way of improving your long-term finances.
6

Set Realistic Goals

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Having unrealistic expectations of how much money you’re going to save over a given period of time is only going to disappoint you when you don’t hit your target. Setting achievable goals will give you a confidence boost when you hit them, as well as saving you money.
7

Learn About Investing

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While it may not be something that you’re able to take part in immediately, having the know-how could benefit you in the future. Investing can often be beneficial to your bank balance.
8

Pay off Your Debts

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Over time, debt will accrue interest, which in turn leaves you further in debt. Doing your best to escape debt as soon as you’re able to will put you in good standing for a future that’s free from financial restraint.
9

Put Money Away Each Week

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Whether it’s in a piggy bank or a bank account, saving as little as two dollars a week can create a positive change in your life. The more you save, the more you’ll want to save, as you realise that things you normally couldn’t afford aren’t that unattainable after all.
10

Protect Your Savings From Yourself

Photo by Ibrahim Rifath on Unsplash
It’s tempting to dip into your savings once in a while, especially if they’re in a moneybox under your bed. By moving them someone secure, such as a high interest savings account, you can completely eliminate the likelihood of your spending your savings prematurely.
11

Find an Additional Source of Income

Photo by Neonbrand on Unsplash
Generating more income can provide you with additional stability, especially if you are single or you are a single income household. It doesn’t have to be a massive career change, a part-time job or a day week offering your services can be sufficient.
12

Improve Your Employability

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Having job security is vital for a happy future that’s free from money worries. Having skills that make you desirable to employers not only allows you to stay competitive in the workplace, but could also help you find a good paying job.
13

Get Insurance that’s Right for you

Photo by Frank Mckenna on Unsplash
While it may be tempting to get top-of-the-range insurance for your home or car, chances are you don’t really need it. Getting the best deal for you means you’ll be protected and only be spending what you absolutely need to.
14

Negotiate a Better Salary

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While this simply isn’t possible for some people, if you’re able to negotiate a better salary, you could drastically improve your earnings.
15

Take Advantage of Employer Benefits

Photo by Kelly Sikkema on Unsplash
Certain employers offer perks for working for them. Things such as low-cost insurance plans and contribution matches to your retirement plans may be offered by your employer. If they are, take advantage of them.
16

Protect Your Financial Information

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While it’s unlikely to happen, if you were the victim of a cyber attack that targeted your bank accounts, credit cards, or PayPal account, having strong passwords that you usually don’t use anywhere else could save you from losing out.
17

Quit Smoking

Photo by Stas Svechnikov on Unsplash
Without going into detail regarding the multitude of health benefits that quitting smoking gives you, it can also have a massive effect on your financial stability. Whether you’re smoking twenty a day or only two, quitting altogether will save you a ton of money for the foreseeable future. Quitting smoking will also reduce the price you pay for your health insurance.
18

Avoid Drunken Online Shopping

Photo by Charles on Unsplash
It’s a fact that alcohol reduces your inhibitions. If you’re online and see something that catches your eye, if you’ve had a few drinks, you’re much more likely to throw caution to the wind and buy it. Cutting down on how much you drink is also another best way of saving money.

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