Many of us would love to have financial freedom, wouldn’t we? The feeling of no money drama, spending what you want when you want it, and not having to worry about where the next meal is coming from. Financial freedom isn’t something everyone can afford easily, and a lot of the time it takes initial sacrifice and hard work. But it is achievable, and sometimes a few small changes can have ou on your way to financial success. I wanted to share with you some of the steps that you could take to make it happen for you.
Get a pay rise or change your job
Sometimes we can get stuck in a rut when it comes to our jobs, so why not use the motivation to having more in your life and make some changes. Perhaps ask for a pay rise, work towards a promotion or even change your career entirely. The money we earn each month mostly comes from our jobs, and if we are not happy or feel we can bring more into the household then why not go for it?
Tackle debts once and for all
Many of us will have some form of debt. It could be an overdraft, a credit card or even a loan of some sort. A lot of us have more than one credit account that we pay out for each month. But instead of hiding away and paying the minimum amount, why not take ownership and tackle the debts for good? It might mean looking online for deals and suggestions on website slike Bonsai Finance, where you could find a deal to balance transfer credit cards or find great rates for consolidation loans. Reducing the amount you spend each month is great, but also having a plan to pay it off is even better.
Regularly check your bank statements
When was the last time you checked your bank statements? Probably not for a while. But if you don’t, then how do you really know what leaves and what come sin each month? Just looking at the balance doesn’t tell you the whole story. Regularly checking the debits and credits may have you finding money that is leaving your account for things you thought were cancelled or maybe even things you had forgotten all about. You could find instant savings just by doing this alone.
Switch and save when you can
We all have bills to pay, and many of us have household debits that we just let leave our accounts each month without another thought. But switching providers for things like energy or insurance could give you savings each month. Many companies save their best deals for new customers, so you could be missing out on big savings.
Reign in the spend on food
Your food bill could be a huge expense each month, and if it is, you are not alone. We can all get a little carried away in the shops, so why not consider changing some of your habits? Meal planning is a great way to reduce what you spend as you then are able to create a list of the things you need. It takes all the guesswork out of going to the shops and duplicate buying or creating a lot of waste come the end of the week. Another thing you could try is changing supermarkets or switching brands. This again can really reduce what you spend.
Use your spare time to boost your income
Many is us have a bit of spare time that we could utilise more effectively. These days there are many online side hustles you could do to earn little extra. From mystery shopping to filling out online surveys. There are plenty of online articles that have a lot of ideas of some of the ways you could earn money online and it is much simpler than you possibly think. You may also have a home filled with things you no longer want or need, so why not sell them online on platforms like eBay. This not only clears your house but could give your income a huge boost.
Change your habits to save you a fortune
Maybe there are things you could do differently in your home. Perhaps you need to start switching lights off when you leave or room, avoid leaving things on standby or make some conscious decision on how you use energy in your home. It could be that you want to try and save on heating bills, so using extra blankets instead of cranking the heating up. Small things can make a big difference to bills like energy, and it could give you a big saving in the long term when it comes to your usage.
Use cash instead of card
Sometimes the use of cards means that we can eject ourselves from the situation of spending physical money. When it is on a card, we can be less likely to see the value of how much we gave just spent, but when you hand cash over it is a physical act. So why not make the switch from card to cash and be more aware of how much you spend each day and week. It ay help you to stick to a budget, or even make more conscious decisions about whether to buy or pay for something in the first place.
Set yourself saving challenges
Finally, if you struggle with saving then why not try a challenge instead? There are lot of saving challenges on pinterest or online, which has you saving little and often. Maybe it is rounding up the balance of your bank account each day, and transferring the difference into savings. Maybe it is about getting rid of your change in a jar or tin each day instead of wasting it or letting it build up. It could even be a small amount each day or week that you put to one side. Little but often can really add up overtime and come in handy for things like Christmas or birthdays.
I hope that these steps help you to financial freedom.