I, like a lot of people, have had my share of money troubles over the years. Between jobs falling through to my ex-boyfriend draining my savings, I’ve had my fingers burnt a few times when it comes to handling my cash. But what do you do when ends don’t meet?
Now, I’m not going to get all preachy on you here because I know how hard it can be. In the last seven years, my life has changed so much. I’ve gone from having “not enough money and too much month”, to “just enough money to cover everything with a few pound coins left”. I’m not exactly rolling in dough but I’m not living of value pizza and beans. If you are (or have ever been) “that poor“, you will understand how much of an accomplishment that is. So, with that in mind, here are some tips that I have used over the years to help get my finances in better shape.
Know exactly where your money is
This might seem obvious but there are so many people who don’t know exactly what they spend their money on. A few pennies going unaccounted for might not seem like a big deal but those pennies might be the difference between a bill getting paid and a default notice. Get tough with yourself and know exactly what you are spending and where. You might be surprised to see that you can cut back on some stuff and find those missing coins.
Once you have all of those pennies accounted for, you will see them gather up. This is the chance to start a savings account. I will admit, the rates on savings accounts is horrible these days. I used to work for a bank and I can remember when 4% was considered a terrible rate. Ha! Four percentage! What we wouldn’t give for that now! But no matter how low the interest rate is, you can still build up a little bit of interest on your spare pennies each month. Speak to your bank (or look online) to see what the different savings accounts are and how they can work for you.
Know your options
While it is tempting to think that nothing bad will happen, we always get hit with some sort of nasty surprise. Like the time my washing machine broke and I had to wash everything by hand for over a month until we could get a new one. My hands were bleeding with having to wash things by hand. At the time, I don’t know what I was thinking, and in the end, I needed a loan to get a washing machine before my hands fell off. Consumer credit index created by Cash Lady can give you some information about who is applying for short-term loans in your area.
Can you earn extra?
Some people are really against working more hours, not because they are lazy, but because they will lose any of those extra hours work as tax. Is there anything worse? Slaving away extra shifts to have the tax man swoop in and take your cash? There are some options for boosting your income to help take the pressure off you. For me, although I have my ads and stuff on here, I like to do sponsored posts (like this one) to help ease the pressure on my bank account.
Do you have any hints and tips about how to help make the ends meet? Share them with me in the comments section. This post has been created in partnership with Cash Lady.