Monday, 31 July 2017

Personal Finance Advice // Big Savings On Life’s Little Luxuries

Money makes the world go round, which is why we must all take a responsible approach to personal finance. Having said that, we all deserve to enjoy life to the fullest too, and treating ourselves to little luxuries is an integral feature. As with most challenges in life, finding a suitable balance between the two is key!

With smart thinking and a little preparation, it is possible to treat yourself without breaking the bank. Why not incorporate some of the following ideas into your approach to future spending? The financial pressures will be reduced in no time.

Reduce the cost of your TV and broadband package without limiting your enjoyment by tailoring it to your needs. Most households are guilty of overspending by paying for more than they need. Run a speed test, analyse your viewing patterns, and cut down to a smaller package. If you’re not using those premium features anyway, it won’t impact your activities in any manner. Alternatively, go for a Freeview box and then use Netflix for a cheap way to gain access to films and programme favourites.

Try holidaying in the UK. There’s no denying the fact that a trip to an overseas hot spot can be amazing. Ultimately, though, the best thing about vacations is being able to switch off from the demands of modern life to enjoy time with your loved ones. Whether it’s Anglesey in Wales or Newquay in Cornwall, it doesn’t matter! A holiday is what you make of it. With the right attitude, a budget vacation in a nearby town can provide those magical moments that you seek!

End your need for ownership. Rather than buying a car, look at leasing options as the depreciation means you’ll lose money on the purchase anyway. Likewise, buying products that you’ll only use once is a little pointless when you could rent them. Even if the rental price is 50% of the purchase price, you’ll still cut your expenses in half. Or at the very least, you should sell unwanted products rather than let them collect dust in your attic.

Stop the need for having the latest smartphone. A friend or relative might give you their iPhone 5 for free, or a token gesture of £25. Meanwhile, SIM only deals no credit check services offer you the chance to get the minutes and data you require on a far smaller budget. Your slightly older phone might miss out on finger recognition, but it still does all the things you need it to do. Besides, the money saved can be put to far greater use.

Learn to remove labour costs by completing various household improvements on a DIY basis. The internet is packed with tutorials and guides to help you upgrade your property on the cheap. Whether it’s adding a simple decking area or converting an unused guest room. Finish those jobs on a smaller budget, and you’ll have more capital left over for future jobs. If that doesn’t encourage a more affordable life of luxury, nothing will!

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