Plenty of people spend their nights worrying about bills and pinching pennies to make ends meet. However, there are a few things that you can do to improve your budgeting strategy and minimize the stress of your everyday expenses. Great budgeting isn't always about spreadsheets and making notes of everything you buy. If you want to be a master of money management, sometimes you have to start with a few simple lifestyle changes.
From cutting back on unhealthy habits, to changing the way you handle money, here are a few changes that should save you more in the long-term.
1. Move More!
We all know that exercise leads to better physical health, but did you know that it might be able to improve your financial health too? Deciding to walk or run to work instead of taking the car each morning saves you a lot of cash on your regular fuel and maintenance bills. Even if you don't want to run in a suit, you can still avoid driving to nearby destinations like the grocery store.
Additionally, a commitment to moving more means that you can generally eliminate expensive gym memberships from your monthly expenses. If you're constantly going out for hikes with the kids, or on bike rides, then you don't need to pay for a gym membership too.
2. Choose Loans Carefully
Constantly stressing over rising interest rates isn't great for your health. A good way to make sure that you don't feel overwhelmed by your finances is to ensure that you choose the right loans and solutions to help you in the first place. Picking the right loan for the support you need ensures that you're not going to end up over-paying in the long run. Additionally, comparing your loan options from day one improves your chances of getting an interest rate that stays as low as possible for as long as possible. Even a small percentage point drop in the amount of interest you have to pay can save you a serious amount of cash.
3. Ditch Bad Habits One at a Time
Giving up bad habits isn't easy, but it's a good way to improve your health, and your financial circumstances. When you're looking for ways to boost your budget, try getting rid of one thing at a time that might be harmful to you. For instance, could you cut down on the amount of alcohol you drink each week or try giving up smoking?
Although giving up a habit like smoking can take a lot of time and focus, the outcome can be incredible. If you can commit yourself to your goals and push yourself to stay on the wagon, then the result can be thousands of dollars saved in the years to come. Not only will you have more money to spend, but you're less likely to suffer from premature death caused by respiratory problems and lung cancer too.
4. Eat at Home
We all love eating out at times. After all, when you go to a restaurant or fast-food place for dinner, you don't have to worry about cooking, or cleaning dishes when you're done. Unfortunately, eating out can cost you a lot more than you'd expect. In fact, one study found that Americans spent around 44% of their food budget on eating out in 2016.
As well as being bad for your wallet, eating out regularly is also dangerous to your health, as it often means that you eat foods highly saturated in fat and extra calories. Make sure that you only get the most nutritious food into your body by planning your meals in advance and making sure that they're as easy to cook as possible. If you've got some delicious food waiting for you in your fridge, you'll be less likely to eat on the go.
5. Take Advantage of Employee Benefits
Finally, there may be a wide range of ways that you can save money sitting under your nose if you have a few health benefits to access under your job. For instance, joining a health and wellness program could help you to spend less and improve your health at the same time. Speak to your employer about whether there are any options available to get a discounted gym membership, or help quitting smoking,
As more companies begin to recognize how much money they can save just by keeping their staff healthy and happy, you could find that your career starts to feature additional benefits.
K Elizabeth xoxox
*Collaborative Post