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If you are one of the many people that scream towards the end of the month with hardly two pennies to rub together in your bank account, you will know that it’s not a fun way to live. In fact, the second half of the month is often taken up with robbing Peter to pay Paul, and crossing your fingers really hard in the hope that not all your bills will get taken out of your account on the same day. Happily, you don’t have to live like this. In fact, there are some strategies you can use to make sure you have some money left at the end of every month. Just read on to find out what they are.
Reduce the cost of your bills
One savvy way to ensure there is more money left in your bank account at the end of the month is to reduce the costs that you have to pay out. Of course, most people think this means not buying three coffees a day or not subscribing to multiple publications, but you can go much more extreme with this tactic than that.
In fact, many people that want to get their finances into order choose to reduce their regular, essential monthly outgoings as well, including things like car insurance, heating and lighting bills, and even grocery costs. All things that can really add up and leave you plenty of cash to play with at the end of the month.
Grab a bargain
Next, when it comes to having money left at the end of the month, don’t forget that being a savvy shopper can be very beneficial. In fact, achieving your goal isn’t necessarily about not spending any money at all, but making sure that when you do spend, it is a wise choice.
Of course, the first question you need to ask yourself to ascertain this is whether you really need an item. Then if the answer to this is yes, it’s time to look for a way of reducing the cost of the said item by using a coupon or shopping in the sales.
In fact, if there is something you need, but that can wait for, it is usually well worth your time to hold off until special times of the year when the sales are in full swing. In particular, look for Boxing Day deals, Black Friday offers, and even bank holiday discounts. If you want to make the most significant savings possible and have much cash left at the end of the month.
Save on the 1st of the month
If all else fails there’s still one strategy left that you can try, and it’s setting up a standing order to leave your bank account on the 1st of the month, or the day directly after you get paid.
If you get paid on the 15th, set up a standing order for the 16th each month.
In fact, this can work really well because it means no matter how much you lose track of what is going on in your main account, you will always still have a savings cushion to fall back on. Something that means you will always have money left over at the end of the month, no matter what!
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