We all want to do better in life financially, it may be that we say money isn’t everything and that can certainly be true, however, if you can find a way of making life more financially comfortable without having to get a stressful new job or promotion then who wouldn’t want that? There are many ways of creating a more healthy-looking bank balance without massive changes in lifestyle, here are 5 of them that we consider to be the best.
Assess your grocery buying habits
What you eat can be a considerable expense and it’s becoming more and more so, the cost of a grocery shop has been increasing for years and that’s not a trend that many are expecting to be reversing any time soon. So if the cost is not going to come down then we need to look at how we can adjust how we shop. One thing you can do is consider cooking your own meals as opposed to buying convenience and ready meals, this will save in the pocket but can also be healthier as well as processed foods are high in salt and fats. Buying own-brand products can be another saver, there is often little difference in quality, give it a try and you might be pleasantly surprised.
Consider getting rid of the 2nd car
If you are in a two car family consider how essential the second vehicle is? As it comes at a considerable cost, the average running cost coming in at £160 per month, and that’s not including the cost of purchase.
Re-mortgage the house
Housing is always a real chunk of most families’ income and it’s important now and again to check if you are getting the best deal possible on your mortgage. You probably had the best deal that you could find at the time but things can always change and it’s never a bad idea to check what re-mortgaging deals are available on a site like Habito.
Check your outgoings
With the national debt reaching £2 trillion we can see how spending more than you bring in can hurt the balance sheet and this is also true for a household. So it’s important to check your bank statements and see if there are wasted outgoings such as direct debits for old memberships or predictions that go unused such as magazine subscriptions, which are easier to forget as many are digital these days, or the classic unused gym membership.
Get a side-hustle
If making savings still isn’t enough then there are plenty of ways of making money as a second income. Commonly known as a side-hustle you can make money by working part-time to supplement your income. Things like selling on eBay or Amazon or doing design or writing work online are all good examples of extra earning opportunities. If you have the time in your schedule it can be an enjoyable time to get away from your normal job and be doing something a little different.