What could you do with just an extra 100 per month? It may not seem like a life-changing amount, but this sum added up over a period of months can actually do a lot to support your financial situation. A huge amount of people are now living paycheck-to-paycheck, their income not quite covering their outgoings, and relying on payday loans and credit cards to bridge the gap and cover any unforeseen expenses. This lifestyle can quickly spiral – it only takes a spell of illness or unemployment – and lead to serious debt problems and a huge amount of stress. But an extra 100 per month could be all it takes to start making a dent on a credit card balance, or creating a cushion of savings for a rainy day. That adds up to 1200 a year – and it’s easily achievable if you commit to it. In fact, once you get started, you may find other areas to cut back on and become able to save even more.
Cut Out Subscriptions
Subscription services are literally everywhere these days – from meal delivery to the programmes and movies we watch, and the magazines we read. Even our razors can now be had as part of a monthly payment ‘club’. These seem like attractive offers initially, but if you take a realistic look at how much you are actually using, and what value you’re getting, you may be surprised. Add up the ingredients in a meal delivery service and you can see more clearly the price you pay for convenience – wouldn’t it be better to purchase ingredients in bulk, cook and freeze for later? A lot of these services make money because we don’t use them to the full but never bother to cancel. Trim is an amazing app that scans your accounts for unused subscriptions and lets you cancel via a simple text message. Another cool feature? If you purchase on Amazon regularly, it will automatically request a partial refund for you if the price of an item is lowered after you buy it.
Open An Online Bank Account
We might have the best intentions when it comes to money, but the reality often doesn’t match up. If you intend to start saving but find there’s never enough left over by the end of the month, then take a moment to open checking account online instantly. Then, make sure you hook it up to a high-yield savings account, and schedule 100 to be automatically deposited on payday with a standing order. Keeping your savings separate and ‘paying yourself first’ is the way to staying on track with a savings goal and prevents you from cutting into that money by accident. Auto-transfers online means that you never have to think about it.
Get Cash Back On Shopping
If you are buying something, be smart and make sure that you get a little something back at the same time. Almost every purchase you make can earn you some money – using an online shopping portal, such as Ebates. Install a browser extension and begin qualifying for up to 40% cash back on purchases from thousands of big-name stores. Make sure that you were going to buy the item anyway, but if so, why not earn money at the same time? It’s only a small percentage but it can quickly add up over the month and make you some spare cash to stash away.
