How to budget and improve your finances 6

Trying to budget can often be a frustrating task. Maybe you’ve tried budgeting in the past but somehow you never seem to be able to keep it up?

If you’re looking to improve your finances, the budgeting tips below will help. You’ll find some more unusual tips, along with a few simple and effective ways to cut back your spending.


Keeping your accounts to a minimum 

How many bank accounts do you currently have? If the answer is more than one, you may want to consider cutting down. Keeping tabs on a number of accounts can be hard work.

There’s also the fact that some require you to make minimum monthly deposits.

 Monthly fees are also added to some accounts for additional benefits. Take a look at all of the accounts you have open and consider whether you actually need them. Cutting down could help you to save a lot of money potentially.


Manage your monthly mobile bills 

Mobile phones are extremely useful, but they can cost a fortune to run. Even if you’re using a pay as you go option it can be quite costly when it comes to using mobile internet. With data now accounting for 43% of mobile bills, switching to a more affordable provider is highly advisable – Certain providers allow you obtain a free sim card (click the jump to visit who offer a free sim at the cheapest rates of any provider we have found in 2014 with a choice of three different payment plans.)


Buy things in bulk 

Did you know that buying things in bulk that you regularly use can save a small fortune? Toilet rolls, toothpaste, bottled water, pasta and rice are just some of the things you can save when you buy in bulk. You can also take advantage of special offers on non-perishable groceries. Supermarkets regularly have offers that could save you a lot of money.


Pay all your bills at the same time 

If you don’t currently pay all of your bills at the same time, now is the time to start. It can become really confusing when you have bills going out at different times of the month. Ideally setting the payments for the day after you get paid is the best option. That way you know exactly what you have left for the rest of the month.


Use budgeting software 

If you struggle to come up with a budget plan, there’s a wide range of software available that can help. The internet is a great place to find free budgeting tools. However, if you’re serious about saving money it could be worth investing in paid software. These tend to have more advanced budgeting features. It all depends upon the level of help you need.


Think of saving as another expense 

If you struggle to save money each month, start changing the way you think about it. See saving as a necessary expense, just like your monthly bills. You’ll soon start to get into the habit of saving if you see it as something you absolutely have to do. Many savings accounts let you set up direct debits where money is automatically taken from your current account each month and put into your savings.



Carn. of Fin. Camaraderie at Four Hour Work Day
Carn of MoneyPros at The Money Principle
Yakezie Carnival at The Ultimate Juggle