We all want more money. But unless you were born with a silver spoon in your big fat gob, you have to create your own financial margin. It probably isn’t going to happen on its own. The first step to achieving this goal is to avoid these three pretty common mistakes. PS – can we borrow a fiver?
Eating Out Too Much
Have you ever been in your kitchen? No? Why the hell not? Today’s society is all about speed and comfort, but that’s still no excuse for all those takeaways. I don’t even want to know how many katsu curries you’ve had this month. As a consequence of our habits, lots of us spend way too much money eating out. According to some studies, we eat out every four meals. Now imagine the amount of money you’d save if you were to cut that by half. I mean, you will have to contend with the unhappiness of eating reheated leftovers from a manky bit of tupperware, but at least you can lord it when you’re still going out the weekend before payday.
Not Having an Emergency Fund
Most financial experts recommend saving at least three-to-six months’ worth of living expenses in case you get sacked or something major happens. We know, that sounds absolutely massive, especially if you have little to no savings like almost…everyone. Don’t obsess too much about saving such a large amount, though, or you’ll become discouraged before you even start. Focus instead on saving just £10 or so at a time. This will cover most minor emergencies, like if you really need a drink or you suddenly feel sorry for the homeless girl you keep seeing on the bridge. But seriously, committing to just a small amount each week will help you build for the future.
Being The Prince of Zamunda
Decades ago, if you didn’t have the money to buy something, you didn’t buy it. But, let’s be real, that’s all changed. Virtually every company you deal with have their own credit card they want you to sign up for; and they are more than willing to let you charge away. This has resulted in pretty much everyone being in quite a bit of debt. Perhaps you can relate, perhaps you regret those gold-dipped Chuck Ts or that amazing ice cream maker you never use. Debt can become quite oppressive, but the key is to sit down and plan your budget for the month. Each penny, each pound, must be assigned to something. Heck, you can even budget for spontaneity, but having an ordered mindset will at least help you keep track of how you’re doing. We recommend YouNeedABudget to help you get on your way https://www.youneedabudget.com/.