Here at His & Hers Magazine, we’ve learned a lot about how we live and work during the pandemic, and we’re sure we’re not alone in discovering that all of those drinks and snacks purchased ‘on the go’, not to mention impulse purchases, used to add up to (considerably) more than we thought! If, like us, you’ve found your spending nudging up as lockdown measures are easing, and you want to strike a balance between living a little while maintaining some of the savings you might have made during lockdown, here are a few tips and tricks that we’ll be trying…
Work out whether you could save money on your day-to-day expenses
You don’t need His & Hers to tell you that for most of us, a large proportion of our take home pay will go towards our biggest costs, such as housing, groceries and travel. So if you can find a way to cut costs in these key areas, this is where you’re likely to see the biggest rewards. Planning ahead can lead to big savings (without feeling like you’re depriving yourself). Whether it’s buying a fuel card to save money on petrol, writing a grocery list and meal planning before you go shopping, or setting up a savings fund for a deposit on a house, planning for future expenses can help to keep your day-to-day costs in check while you’re working towards your long term financial goals.
Don’t be too hard on yourself
We think it’s fair to say that the past year or so has been pretty stressful for most of us. So if you’re working hard on hitting financial goals, such as paying off debt or building up savings, this can start to feel like an added source of pressure when costs such as commuting to work or going out for meals with friends are reintroduced. If you’re feeling frustrated with your progress, try to be kind to yourself and remember that small changes really do add up over time.
Find an inspiring reading list
Let’s face it, when you’re trying to stick to a budget, you’ll find temptation almost everywhere – from your Instagram feed to messages from your friends suggesting meals out to the targeted ads that pop up when you’re trying to work! The His & Hers team tries to counterbalance this by following accounts like @myfrugalyear that help to keep us feeling inspired about our progress.
Try to keep some treats in the budget
If at all possible, try to find a little bit of room in your budget for some small treats, even if you’re working towards big financial goals. Yes, you could save more if you gave up take out coffees for life, but if you really enjoy your morning coffee fix, perhaps it’s worth keeping and looking at other areas (such as unused subscriptions) where you could cut costs without feeling the pinch. If your budget is too strict, you won’t want to stick to it, so it’s worth settling on a more sustainable plan that includes the occasional treat.
We’re very proud to bring you this feature in association with iCompario, a leading business comparison website. The link to the fuel cards featured is theirs, but the words are all our own.
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