Hey, we DON’T want you applying for loans! Honestly. It might mean less business for us, but isn’t it better to find ways to save and be a little thriftier?
So, we dare to be different, and instead of telling you about our wonderful loan services even for people with bad credit, we’re going to give you a few tips on how to change your lifestyle and improve your budgeting without going completely overboard with wholesale life changes and having enough money to not require a loan.
This particular tip stands at number 1. Why? If you spent just a few minutes each day cutting out coupons, you could save a significant amount of dollars when you buy at the local supermarket.
If there are items and products that you often buy, like every week, then buying in bulk will save you money in the future, albeit you are spending more at the time. Items that don’t have an expiration date are excellent examples. Soap, shampoo, toiletries and other household items that you constantly use. Long expiration dates like long life milk or canned foods are also great for bulk buying.
Have you noticed that sometimes your pocket seems to be weighed down with coins? You would be surprised at how easy it is to accumulate change and just how quickly it adds up. If your change amounted to $50 or $100 a month, you could call that serious cash. Most people don’t respect coins, but they are legal tender, and not bits of metal that you toss around or lose behind sofas and car seats. Buy a piggy bank or a bowl into which you can toss or save your coins.
If possible, deposit 10-20% from each pay check into a separate bank account.
Have you ever smacked yourself in the forehead after buying something on impulse and finding it a month later, never used? Remorse has set in. If it’s not on the list don’t buy it! It’s as simple as that. Which means, make a list before you go shopping, or change your impulse habits completely.
You need new clothes for the coming season, or you simply need to replace old stuff. There’s absolutely nothing wrong with the low-priced sales rack. You would be surprised at the quality of some of the bargains you will find there. The money you save on buying cheaper clothes can be used for something else.
Get in the habit of paying off your credit card each month, otherwise you will find yourself paying for an item two or three times over just from the interest charged.
If you use a credit card, ask the bank for a low interest or a no-interest card. You can save a lot of money by doing this and it will allow you to use the card more wisely.
There are websites and businesses out there that offer free samples of certain items. Samplestorm.com and Walmart.com are a couple of examples. You can get stuff like doggy treats, shampoos, skin lotions and a range of household products. Just ask and thou shalt receive! Check out some of the manufacturers who offer new products as samples on release.
There are ways and means of getting help when you are in debt. Looking for solutions is better than going into a state of depression or despair. Creditors will normally give you time to pay back the debt, maybe over several months. This method not only helps you with personal budgeting, but once the debt is paid you will experience a wonderful feeling of financial freedom.
The truth is, if you adopted just 5 of these tips, you wouldn’t be looking for an instant payday loan. The sad fact is that people are undisciplined when it comes to money. That’s why we’re here to help.
Raven’s genuine interest in behavioural economics and her expertise in psychology, acquired during her Master of Professional Studies (MPS) in Applied Behavioral Economics at Dyson Cornell College of Business make her the perfect candidate to approach all the personal finance topics through the perspective of an individual’s psychology.