Thursday, September 14, 2017

# budget # finance

The Secrets to Enjoying Yourself Now and Saving Money for the Future



piggy-bank-2645412_640.png

Saving for a brighter, more financially secure future is something that we all know we should be doing, but a lot of people never get around to it, preferring to live for the moment and enjoying spending the money they make now, as opposed to squirreling it away for the future.

This is understandable, because, after all, what is the point in living if we cannot enjoy ourselves? However, it is not necessary because it is possible to enjoy yourself now and save more money for the future. Here are some tips to help you do just that:

Get On Top of Debts

If part of living the high life for you has included racking up the credit card and loan debts, before you do anything else, you should seek to minimize the amount of money you’re spending on debt repayments each month. Going to debtconsolidation.co, and consolidating your existing debts into one monthly payment, and then making a real effort to pay them off as soon as possible will help with that. So will, trying to control your impulse to spend on your credit cards in the future.

Keep Monthly Bills to a Minimum

If you want to be able to have a good time today and have enough leftover to save for tomorrow, then it’s imminently sensible to keep your monthly bills to a minimum. The fewer regular commitments you have, the more money you have to play with and cover all bases.

There are two ways to go about this; first of all, try to limit the number of bills you’re compelled to pay. You can’t avoid essentials like rent and utilities. But do you really need cable or a brand new car? Trading off on these non-essentials so that you have more money available to you will help you have a great life now and in the future.

The second thing you can do is to lower the costs of your monthly bills by switching to a more affordable cell plan or downsizing to a more affordable home, for example. With the money leftover, you can funnel more cash to your savings account and treat yourself to something fun that you might otherwise have missed out on.

Make Savings Automated

If you set it up so that a percentage of your salary is automatically funneled to your savings account each month, you won’t miss it, and you won’t be tempted to blow it all the first chance you get. You’ll also know exactly how much money you have to spare for the fun stuff so you won’t feel like you’re living an overly frugal life with no room for enjoyment.

Plan for Those Spontaneous Moments

This might seem like a contradiction in terms, but if you want to enjoy life now and amass enough money to meet your goals and live comfortably in the future, it’s pretty important. All you need to do is track your spending for a few months, which you can do at budgettracker.com, so you know roughly how much you would normally spend on the spontaneous stuff and then plan for it in your budget.

By doing just these four things, you can really have your cake and eat it!








No comments:

Post a Comment