As January creeps closer by the minute, you might be beginning to think about what kind of goals you’re setting yourself for the new year. For many people, getting a better grasp on their budget and finances is high up on the list. Balancing your budget can feel like a never ending juggling act, but it is totally possible. So, with that in mind, let’s take a look at how you can save some money this year.
Cut costs in unusual ways
The first thing you should look at is trimming the fat from your spending, so to speak. Instead of heading to the coffee shop each morning, invest in a decent coffee maker. While the initial investment might not be something you want to make right now, you’ll soon notice that the cost of your morning coffee drops dramatically, and eventually the coffee maker will pay for itself.
Eating out regularly can also drain your bank, so why not release your inner chef and try out some new dishes? Not only will your bank account look healthier, but your tastebuds will thank you and because you know exactly what went into the food, you’ll feel healthier too.
If you regularly shop online, try installing a coupon finder. When you go to checkout, these plugins will find coupons and discount codes to apply to your basket before you checkout. It might not be much, but every little helps.
Explore investment avenues
Investing is a great way to make some more money, but it can be difficult to know what to invest in. Have you ever heard of Alumni Ventures? If you’re looking to invest into something more than a share in a company and you want to support those who are working hard, this is something to look into. It’s a great way of investing your money into alumni-born companies while also getting a return.
That’s not to say that other investments like stocks and shares aren’t a good idea. Lots of people make a tidy side income from investments each year. All you need to do is familiarize yourself with the rules and process!
Start a side hustle
Side hustles are a great place to start if you’re just looking for a few extra bucks to spend when you go on vacation this year. Whether it’s freelance writing, dog walking, babysitting, or even making candles to sell at the local book club, it’s a great way of boosting your income without spending too much time or effort on it. If you’ve got a skill, embrace it and offer your goods or services to the world!
Put money away for a rainy day
Finally, you never know when your car is going to break down or your refrigerator will need replacing, so it’s a good idea to put a small amount of money away each month. Even if it’s only $5 a month and the amount you saved only covers half of the bill, you’ll thank yourself for doing it.