A freelance writer living in Perth, WA. My blog is coming soon. Watch this space!
Published January 9th 2013
Trying to save money - give these a try
After Christmas and the New Year festivities many people are finding that they have spent just a bit too much money. Your bank account has taken a battering or even worse your credit card has and now you have a huge debt to pay off.
Here are a few suggestions to help you save some money and get those debts paid off or at least make them a bit smaller.
1. Find A Reason to Save. Think of saving money as more of a goal to reach than something you have to do. Set a goal and work towards it. Think of something you really want like a new car or a holiday and watch your money grow. Make some smaller, short term goals that are easier to reach. Keep track of your savings and your goals and remind yourself what you are saving for.
2. Watch Your Money Grow. Track your savings in a notebook or on a spreadsheet. It can be lots of fun to see your savings get bigger, especially when you get nearer to your goal. Compare banks and accounts and make sure you have the best one for you. Don't be afraid to change banks for a better interest rate.
3. Pay off Your Debts. Having a debt can be a real problem. Work out exactly how much you owe and take control. Pay off as much as you can and see if you can make extra payments or add a bit extra to your payments each month - if you can afford it. Cut back on spending for a while and perhaps use a budget planner to keep an eye on your spending.
4. Don't Get Complacent. It's important to keep an eye on your money and interest rates. Don't put it out of your mind or forget about it. Use a comparison website to make sure that you are getting the best interest on your money or being charged the lowed interest, and fees, on your credit cards. If your not happy, switch to a bank with better rates.
5. Think About Your Money. Think about the money you have and use it wisely. Pay for things with cash if you can and stay away from the credit cards as much as you can. Think twice before you make a big purchase or an impulse buy. Keep an eye out for hidden changes and fees.
These are just a few suggestions, a guideline to help you save a bit of money. Be money wise and think before you buy and before you know it you'll have a nice little nest-egg or have saved enough for that dream item you've always wanted.
My tip? Try putting all the gold coins you find in your change each day in a piggy bank. At the end of the year, count them up - you may find you have quite a few hundred dollars - enough to pay for something special. J