Do you constantly find that you have less money at the end of each month than you would like?  I’m sure most would reply to that with a wholehearted yes!!  Perhaps you’re finding it hard not to spend so much through the month that you actually struggle to pay the bills when they come around. What’s going wrong here?  You would be amazed at how little things can adding up and amounting to a small fortune and one that you simply can’t actually afford.  If you want to correct the situation you need to tackle each problem and make sure that you cut out some of the smaller growing costs present in your lifestyle.

Designer Products

Are you obsessed with the designer labels?  Or, it’s perhaps more likely that your kids are and they are begging you to buy them all the time.  The fact is a designer label can double the cost purely due to the name and we’re not just talking about clothes here either.  Take phones as a prime example.  The typical iPhone will cost roughly six to eight hundred pounds if not more.  You can get a less well-known brand that has all the same features for nearly half that price.  Is the iphone really that necessary when you can’t keep up with the bills?

It’s important to understand that paying more doesn’t typically mean a greater level of quality. The branded beans in the supermarket are not necessarily better quality or even tastier than the ones without it, they’re just more popular.  We need to stop being a slave to labels or brands and the this will result in having more money to spend on other things at the end of each month.  It’s shocking really the savings you could make.

Photo Credit: Pixabay

Alcohol And Cigarettes

It’s possible that your overspending is actually coming from something beyond your control like an addiction.  Addictions are well known for costing a fortune, particularly if you are unaware that you actually have a problem.  The typical drinker can spend a fortune on alcohol every year without even realising it.  How much are we talking about here?  If you like to enjoy a bottle of wine each Friday to celebrate the end of the week then you could easily rake up a total annual cost of four hundred and fifty pounds or more.  If you want to save money you should consider kicking a habit like this.  You can do this by looking at advice you’ll find from resources like alcoholism and rehabilitation – the ultimate guide that may be useful in helping you quit or a least start to wean yourself off.

Photo Credit: Pixabay

Smoking can be an addiction that is just as difficult to beat, but, with the right steps and strategies you can plug this drain on your bank account.  There are plenty of sites online with useful information that can help set you on the right path.

Cut Down On Take Aways / Meals Out / Buying Lunch 

Some people make a habit of getting in a takeaway every Friday or going out for meals regularly.  It’s amazing how much you can save by cutting down on such spending although you should enjoy an occasional meal out or takeaway.  I know quite a few people that complain they don’t have much in the way of funds yet they buy lunch daily instead of making their own and taking it in with them to work.  In some cases you can save at least four fifths of what you would normally spend by making your own meals if not more.

Entertainment

You might be eager to purchase the latest films, TV shows or music as soon as they arrive on hard media such as blu-rays, DVDs and even CD’s.  These days this isn’t really necessary plus all the CD’s with cases can take up a considerable amount of space that you might not have spare.  If you have a strong internet connection as most of us do and you don’t mind a little delay in watching the latest movies plus you can get it for free from a streaming service like Netflix Hulu or Amazon Prime.  You will have to pay for services like this but it will be much cheaper than spending twenty plus pounds on a box with the disc inside.  The number of streaming services is growing at such a rapid rate which is handy as at the moment many charge excessive amounts so they will be forced to provide more competitive rates in order to win over customers.

By looking into areas such as these where you may be overspending you should improve your overall bank balance considerably.

Photo Credit: Pixabay

Can you identify areas where you may be overspending?

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