The Holy Grail in life is to boost your spending power without cutting back and making sacrifices. In short, you want to have your cake and eat it too, and you’re not alone. The average person without a fortune in the bank wants the same because life’s too short to scrimp and save. Is there anything as dull?
Splashing out is exciting. There is a rush of adrenaline you can’t seem to get anywhere else when you hand over a credit card and see the “transaction approved” notification. Bliss. Of course, you’re sensible with your budget because you don’t want things to spiral out of control, but what if they didn’t have to? What if you could continue spending without cutting back?
For everyone who thinks it’s a pipe-dream, here are the incredible and realistic ways you can make it happen.
Opt For A Lump-Sum Debt
Regular readers of the blog will know debt consolidation is a powerful and problematic tool in equal measure. Get it wrong, and you’ll be in worse trouble than when you started. It’s about the individual circumstances, and yours might be perfect for a lump-sum loan.
Online payday loans provide a cash boost for those who need a little extra money to see them through the month. They’re also perfect for consolidating debts. If you have multiple arrears in your name, you can merge them into one and avoid paying interest fees. The money you save you can spend on whatever you like.
After all, it’s yours and it’s not earmarked for bills.
Sell Things You Don’t Use
It’s human nature to hoard stuff and leave it in the basement or attic to collect dust. Out of sight is out of mind, but it’s also a potential budget-killer. Why? It’s because your trash is another person’s treasure and has plenty of value.
Sell it online to the person with the biggest bid and you will have more money to spend on the things you like. Sign-up to eBay and Amazon, stick a reserve price on your lots and let the bidding war commence.
Clearing your home of clutter is a money-booster as it means there’s more space for storage and you can stop renting a locker or a unit.
Switch Banks
A bank is like a sweater you’ve had for years – it’s comfortable. Unfortunately, it also wears away and leaves you with a problem – it’s overpriced. Paying for an account isn’t a bad idea, but the juice has to be worth the squeeze. For example, there should be a high-interest rate on the cash you keep in the account to negate the charges.
Another reason to switch is for respect. A bank that respects you puts your needs first, and that doesn’t only mean in the form of promotions. It has excellent customer service, modern mobile features, and fewer charges, all of which reduce overheads.
A phone call might not seem like a big deal, yet it is when the number isn’t free and you’ve been on hold for hours.
Sign-Up For Rewards
Stores are big on offering their customers with rewards for shopping with them. In an industry that has never been as competitive, it’s vital to stand out from the crowd and bring in new shoppers. It’s also important to treat old customers with respect, too.
The way to exploit this trend is to sign-up for deals at the stores where you shop. Then, you’ll get points for essential purchases and won’t have to pay for stuff you don’t need. Plus, the points are exchangeable for products and services, so you’ll get discounts and avoid paying the retail price.
A cool tip is to sign-up for rewards in advance if you know you’re going to use them in the future, air miles, for example.
Buy In Bulk
Paying for things you don’t need is a no-no; however, some staples never go to waste. The likes of bread, milk and tinned goods are used every day and they don’t have to go off. Buy them in bulk and freeze them for the future, taking them out to defrost as and when you need them. Obviously, this tip doesn’t apply to tins!
To double down on your savings, use the ingredients for cooking in advance and making big batches of food. Again, freeze the leftovers and then you have meals for the rest of the week without wasting anything. It’s the ultimate bang for your buck. A tip: heat it on the hob (if it’s a sauce) and add water and salt to stop it from tasting dry.
None of the above encourages you to stop spending but they all save money. As long as you think creatively, you won’t have to stick to a rigid budget either.
