The path to financial freedom isn’t always easy. In today’s economy, everyone wants to be saving money wherever possible. Not only does being sensible with your money benefit you in the long term, but the recent Coronavirus pandemic has shown how crucial it is we put money aside for unprecedented lifestyle changes.
We’re now facing a global economic crisis. Countries all around the world are grappling with severe recessions. This economic downturn promises high levels of unemployment and inflating prices. It’s natural to be worried about what shape the global economy will take in the upcoming months and next few years. One way to control your money anxiety and make sure you don’t suffer during these trying times is to become more responsible with your money.
Financial freedom looks different for everyone; for some, it’s the ability to pay the rent without worrying, and for others, it might be a few luxury items here and there.
Discover The Best Deals
Many of us don’t want to compromise our lifestyles to meet our financial goals. Although sometimes this is unavoidable, there are ways you can maintain the same luxurious lifestyle and not break the bank.
The secret to doing this? Deals.
Buying the same things you regularly purchase when they’re on promotion or discounted can save you a lot of money. Sometimes seeking out these discounts can take time, however, if you’re willing to do the research, you’ll be able to buy the same things you love with a smaller price tag.
Use Discount Codes
If utilising store deals and discounts sounds appealing to you, but you don’t have the time or patience to wait around for your favourite items to be blessed with a price-drop, you can use vouchers and discount codes. By using vouchers and discount codes, you’re guaranteed a lower price on the items you love.
If you’re loyal to a brand, they’ll likely send you vouchers for your favourite products as a way to ensure you remain shopping with them. Alternatively, if there’s a specific item you’re lusting after that’s out of your price range, you can search online for discounts on this item.
By using discount codes, you can buy high-quality items at a cheaper, budget-friendly price.
Shop Second Hand
Rather than always buying new, be kind to your wallet and our planet and shop second hand. One man’s trash is another man’s treasure? This statement has never been more true than in 2021. Second-hand shopping is thriving, and you can discover almost everything you could possibly need pre-loved and still in incredible condition.
Shopping second hand is almost always cheaper than investing in something brand new. By searching in second-hand shops or online marketplaces, you’re likely to find exactly what you’re looking for with added character and charisma. Second-hand is stylish; show off your vintage, pre-loved garments and save money whilst doing so!
Upcycle
If you discover something second hand that’s almost perfect but not quite there, don’t be so quick to turn away. Instead of splashing the cash and investing in something new, consider how you could alter the cheaper item to suit your needs.
Upcycling is becoming increasingly common as more people strive to contribute to a circular economy. With so many people keen to save money but still have one-of-a-kind items, endless resources are available on the best ways to upcycle. Not only does upcycling items save money, it’s an eco-friendly alternative and can be immensely beneficial to your mental health. If money worries are contributing to your poor mental health, upcycling may be the therapeutic money-saving method you need.
Be Strict With Your Spending
The number one way to save money and stick to a budget is to consume less. Be strict with your savings and stop buying unnecessary items. Often we buy things in the hope they will make us feel good; we think spending money will make us happy. If you’re suffering from money-related worries, you already know this isn’t the case. When we start being conscious of our spending habits and taking control of our finances, we often discover what makes us truly happy.
If you’re serious about living a good life on a budget, you need to consider where you’re spending and where you’re saving. To achieve this requires thinking introspectively about our lives and how money plays a role. If you want to ‘live your best life’, consider what is it that makes you feel your best? Where is spending extra cash worthwhile, and where is it best to budget? Making this distinction will make sticking to a budget easier due to you understanding what investments enrich your life and which don’t.
Set Financial Goals
If you’re still struggling to stick to your budget, despite knowing unnecessary spending isn’t benefiting you or your lifestyle, consider implementing savings goals. Having financial goals is a great way to hold yourself accountable and make sure you’re sticking to a set budget.
Rather than mentally keeping track of these goals, write them down to encourage yourself to stick to them. If you’re cautious about overspending weekly or monthly, create a spreadsheet that tracks everything you’re spending. Maybe you’re not concerned about what you’re spending, but how you’re saving. If you have savings goals, break these down into steps. Plan how you’re going to meet your financial target and how long it’s going to take for you to get there.
It’s possible to live a happy and healthy lifestyle on a budget. Often, if you’re savvy and seek out vouchers and discounts, you don’t have to compromise on the quality of your life. If you’re concerned about sticking to your small budget, ask a friend or family member to check how you’re doing. Ask this individual to question you on how you’re progressing with your financial goals, to make sure you’re using vouchers and discount codes when possible, and encourage you to keep budgeting to live your best life.
No matter what’s happening in the world, there are always ways you can save money and be savvier with your spending. By using the tips in this blog post, you can live a life you love and save the money you want to whilst doing it. Don’t let money worries take control of your life; budget better and take control of your finances.
About the author
DealUK – Helping you live for less with tips and UK deals.
