How To Look After Your Money In 2015

The end of each year is a joyful and merry time with Christmas fun and New Year’s celebrations. However, the festive activities don’t go easy on your wallet. Many of us enter the New Year feeling a little tight for cash. There is no need to worry. Start how you mean to go on, and make this year easier for yourself by setting a few rules and boundaries so that you can save and be more careful with your money. We understand that’s easier said than done, but if you follow our simple guide then it’ll help you on your way to being more careful with your spending in 2015.

Look After Your Pennies

It may seem petty, but if you cut down on your little spending you’ll notice where all that money disappears each month that you’re unsure of. Spending a little a lot is a sly way of wasting a lot of money. If you look after the pennies, the pennies will look after you. Try minimising what you’re spending on little things, such as snacks when you’re out and about, or spending an extra £2.50 on cereal that tastes exactly the same as the cheaper version. By being aware of what you are spending, you’ll be able to see what you really need, and what you just fancy getting for the hell of it. Do you really need to buy that bottle of water on your way to work when you can get endless supplies of h20 from the tap in the kitchen? It may seem tedious, but by keeping an eye on your small change you’ll realise that it’ll go towards your parking that day, or your weekly shop. Every little helps!

Budget for Each Week

If you do a realistic budget for each week then you’ll have a guideline to stick to. Some weeks you may even spend less than others so you’ll be able to save that cash for a rainy day. When you’re deciding on your budget for each week it is important to be realistic. Factor in money for that after work drink that is inevitable on Friday evening, or those extra toiletries you’ll need to get on your weekly shop. By being realistic with it there will be no sudden surprises if you for some reason go slightly over one week. If you stick to your budget, you’ll start to feel more relaxed and in control of your money spending. You earn that money, you want to make sure it goes on the right things and that you have some little left over for what you need. It may take a few tries to get the most realistic figure for your weekly budget. However, you’ll soon discover the right weekly budget for you and it’ll become routine and second nature to stick to it.

Start Saving

If you’re looking to save up for something, or even if you’re not, opening a savings account is a great way to store away some money for emergencies. By putting away a little or a lot each month, you’ll soon see how much you can save. Depending on your situation, and how much you wish to save, by putting aside some cash will really benefit you in the long run. You may be saving up to go away travelling or perhaps you want to have the security of knowing there is some spare cash hidden away. Opening a savings account gives you control of your money, and will really help out your future self if you’re in need. It could also help out when you’re a bit strapped for cash one month and then you can reimburse yourself whenever you get paid. Saving money is never a bad thing, and what better way than to put it in a separate account so you don’t get the temptation to spend it.

Pearl Whitehead

Pearl Whitehead is an experienced writer working for Cefar, a digital design agency based in Leeds, UK.

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