Ideally, it’s best to play the long game with your finances and give yourself plenty of time to improve your family’s financial situation. But what happens if you don’t have enough time to play with? Maybe you have some debts that need urgently paid off, and need to find some extra cash quickly? Whatever the reason, it can often be worthwhile forgetting about the long game and setting yourself a short-term goal for strengthening your finances. Think you could do it in under a month? You may be surprised to hear that it is very possible! You just need to follow these steps.
Set Up A Small Change Jar
Does your wallet or purse jangle with all the small change that you have in there? Well, rather than have it weigh down your pockets, you should instead take out all your change and start saving it in a jar. You could be amazed at how much you manage to save up over the course of just one month! Another great idea is to stop spending your five dollar bills. Instead, save them in another jar. When we have small amounts of money in our wallet or purse, we are a lot more likely to spend them on trivial purchases, such as Starbuck’s coffees and magazines. But if you put them all in a jar and save them until the end of the month, you will find that you have built up a nice little amount to put towards your credit card bills and other debts.
Call In Debts Owed To You
Did you owe a friend or colleague some cash a while back? If so, now is the time to ask for it back. You shouldn’t feel bad about approaching them for this money – after all, you were good enough to lend it to them in the first place! If they don’t pay you back after some gentle reminders, you should ask them if they want to set up a payment plan to make it easier to pay you back. For instance, they might find it better to pay you back $50 a month until they wipe off their debt.
Work On Any Compensation You’re Owed
Not many people realize the kinds of things that they can claim compensation for. And in some cases, they could be eligible for quite a substantial payout! There are various accidents and cases which you can claim for, you can find out via BrownAndCrouppen.com and other legal sites. As part of the compensation process, you may be required to give a statement and even go to court. But this will certainly be worth it once you win the case! It can be worth to get in touch with a lawyer about an accident or event that occurred a few years ago. Generally speaking, you can claim for even historical situations and events.
Purge The Spam
The biggest temptations that often make us part us from our money are advertisements. And the worst ones for tempting us to spend are those ads that come straight through our letter box or into our email inbox. Lots of people find that if they manage to cut down on all the spam and promotions they receive, they don’t spend quite as much. So take some time today to work your way through your inbox and mark all the newsletters and promotional emails as spam. Not only will this help you save some cash, but it will also clean up your inbox! Stopping all your junk mail for good can be trickier, but it isn’t totally impossible. The best thing you can do is to add your address to a blacklist database. Companies and businesses are not allowed to send out promotional materials to any address on these lists.
Cut Your Regular Expenses
Cutting down on your monthly spending will free up a lot of money for you. One of the easiest ways to save on your spending is to look out for coupons for discounts and deals. You can usually find these for groceries, hairdressers, and pet food. In some cases, you can even save money on your various insurance plans by streamlining them under one provider. So if you use different insurance companies for your different plans, it’s a good idea to call a few up and see if you can save by getting a blanket insurance policy from one company. There are some nifty tricks that can help you save on your monthly electricity bill, such as installing dimmer lights (they use up less energy) and drying your laundry outside on a washing line.
Take Care Of Your Stuff
Do you know what one of the main reasons for spending is? It’s to replace old or damaged belongings, such as clothing and furniture. There is one very simple way to cut down on this kind of expenditure – just look after all of your things better! If you consider everything in your home is disposable, you are basically regarding your income as disposable as well. So rather than looking at all your belongings in this way, you should value them much more highly. Another good tip is to save up so you can invest in good quality items in the first place. These usually last for a lot longer than cheaper versions. At the end of the day, though, improving your home maintenance and clothing repair skills will help you to save some significant cash!
Cut Down On Food Waste
Sick of your food bills being so high? You just need to try and make your food last longer. And you can do this by cutting down on food waste. Rather than throwing any leftovers out, refrigerate them and enjoy them the next day for lunch. You can simply reheat any leftover portions. If you have any leftover ingredients, I’m sure you’ll be able to add them to a variety of curries, stews, and other hearty recipes.
So, just one month to improved savings – let’s get going!