Hey, you’ve made it to our guide on how to manage your money. Excellent! Grab a pen and paper or open a document. Let’s make sure you leave this article with a brighter plan for your money and hopefully with any money worries completely gone.
So, where do we start? Let’s first take a brief overview of creating a budget and sticking to it. After, we’ll share some fun ways you can reduce your spendings or make some cheeky extra cash on the side with Yonda.
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Make a budget
To manage your money, you’ll need a budget. Simply list down all of your static outgoings, the things that don’t change month to month. That’s a great starting point. Things like your rent, car insurance, and phone contract are some fine examples.
Next, we need to look at your expenses on food, shopping, eating out, or other social expenses. Think about how much you usually spend and make a realistic limit for it in your overall budget. We’ll talk more about how you can stick to it later.
This is a great starting point. For future months, make sure you spend through your Yonda card. That way, all of your expenses are tracked and you can easily see if you’re sticking to your budget or not.
Save on household bills online
Now that you have your budget, it’s time to attack those expenses that really should be lower. Fortunately, you might not have to worry too much about cutting down on your social spend. You can instead think about how you can save money on your internet, car insurance, gas, electric, and your next phone bill.
All of these areas are crucial for everyday living, but there are so many competitors vying for our money these days that it’s very easy to pick and choose as we go. In fact, there are plenty of comparison websites for all utilities, making it very easy to find a better deal that could save you hundreds per year. Switch to the best deal for all of your expenses and you could uncover a gold mine of savings simply by browsing online. It’s super simple to do and frees up your life for other spending or saving.
Pay off your loans first
It’s great to think about saving, but if you have loans or credit card debt, make sure to pay off those first. You’ll be able to save on interest and more importantly, you’ll have more free expenditure each month once any debt outgoings are paid off.
It’s better to think ahead to the future. You may not be in the best financial situation now, but if you think with patience and look at how things could be in 2 or 3 years with a good budget, you’ll feel freer and have a better outlook on your money situation.
Look for fun ways to supplement your income
Making a budget and setting plans to save can be a great way to manage your money for the future, but what if you want some more immediate relief? Well, what about looking for fun ways to supplement your income? There are plenty of great ways to make money on the side with little to no effort.
Firstly, make sure to try Yonda. With Yonda, you’ll be rewarded each time you use our card at one of the many retailers we currently partner with. That reward is Coin, which is real money and it can be used to spend at any location with your Yonda card. It’s like getting the option every now and then to spend less, or nothing at all at your favourite shops. The Coin you earn can also be saved up and Yonda even has a savings goal option.
Yonda is one of the few methods available in the UK for people to get rewarded for just living their everyday life. You can even use it on your You can even use it on your every day purchases with shops on the app or coin it on your big purchase like revamping the house or garden. Download Yonda below.
Another great thing to do would be to sell all of your old belongings online. You may be surprised at just how many old belongings you have lying around that could sell for a nice chunk of change. Old clothes, furniture, gadgets, and even things like books and DVDs can be sold online or taken to shops that offer trade ins. Or, what about any jewelry or tech equipment you rarely touch? There is bound to be plenty around that you can sell.
Clearing your mind for a better future
No matter what your financial situation is right now, just remember that it can always get better. If you’re worried, take a moment to breathe and plan things out with the tips we’ve listed above. Once you’re done, you can rest assured knowing that things will get better over time. If you are struggling, you can always reach out to some excellent organisations like the following for free, impartial advice:
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