There’s no doubt about it; modern life is expensive. From the general expenses of day-to-day life to keeping up with car repayments and one-off essential payments such as getting essential repair work done to your property, you might find yourself literally counting the pennies by the time your next payday rolls around. If this is the case, then here are some suggestions to help you stretch your cash until payday.
Give up unnecessary expenses
While you might think that you’re good at budgeting, not spending your hard-earned wage on new outfits or the latest video games, you could unwittingly be spending a lot of money on other unnecessary expenses. Do you need a daily almond milk vanilla latte to go? Or do you routinely end up buying a supermarket sandwich because you’re too tired to prepare your lunch for work? Expenses such as these may seem essential in the moment, but they soon start to add up. You can save the coffee as a treat every few weeks, and have fun trying out different lunch recipes for work. If you’re struggling with this, try paying for everything with cash — seeing just how much money you are spending can help motivate you to start saving. All it takes is a bit of extra organization; you’ll soon see yourself saving money by doing so.
Apply for a payday loan
Sometimes, despite your best efforts at saving, you just need a bit of extra cash to help you make it to payday. It could be that an unexpected expense has arisen, such as your car breaking down and needing to be repaired, or having no hot water and needing a new boiler. These situations are expensive and can leave you struggling for money. If this is the case, you can apply for a payday loan through an online UK payday lender. Payday loans enable you to borrow a small sum of money over a short period of time — perfect if you need just a bit more cash to help you make it through to payday. They have short repayment windows, often only a few months long, meaning that you won’t have a long repayment period hanging over you.
Work out the money you have and budget accordingly
When payday comes around, you might be excited to see your account boosted, but don’t get too carried away. Take some time to work out your budget for the following month. It can help to get the whole family involved so that they can see how they can help to economize on household necessities. Kids especially will find it useful to see first-hand how to balance the household accounts, learning important money management skills for the future. Estimate how much you’ll have to pay in rent, bills, and other monthly subscriptions such as Netflix and phone payments. Give yourself a weekly budget to spend on shopping for food and other essential household items. The money you have leftover can be put aside and saved for emergencies and the occasional treat.