When it comes to having fun in the sun, whether it’s enjoying a week away on an exotic island or taking day trips to local attractions, no one wants to be worrying about the state of their bank balance. Especially when the cost of living is on the up. Short of winning the lottery (unlikely?) here are some ideas for how you can avoid worrying about money this summer.
Save
I love watching TV programs like ‘Eat, Shop, Save‘ where a family is taught how to reign in their spending habits and start saving money on everyday items as well as big spend items like cars and holidays.
Saving can be easy and mindless if you set up a method that works for you. Having a weekly budget can really work for some – take out your budget in cash and divide it up into jars labelled with a purpose. Make up an extra jar labelled ‘savings’ and at the end of the week put any leftover cash into this jar, then set up the next week’s money and repeat.
If you prefer dealing with ‘digital money’ (like me), try setting up a regular deposit into a savings account from your current account. I have set it up that a proportion of my earnings automatically gets moved over into my savings each month so I know there is always something there for a rainy day.
Borrow
When you’re looking for credit, there are so many options these days. From loans, to credit cards and overdrafts… but what really is the best product for you?
I do sometimes end up going into my overdraft but, an overdraft should be for short-term borrowing or emergencies only. It’s important to manage an overdraft like any other debt and make sure the costs don’t get out of hand.
There are some companies that offer credit card alternatives like direct lender Polar Credit. Applying for credit from a direct lender can simplify the borrowing process by giving you full control of your personal data in an easy to understand way. All reputable brokers will always take care when processing your data but the nature of their business means that they have to share it with direct lenders to see which unsecured lender will be able to lend to you, for how long and at what interest rate.
Sell
I have been having a massive clear-out at my house over the last month or so. A much-needed clear-out! It’s only when you go room to room and really look at what it is you have accumulated that you discover how much stuff you really own and how much you don’t really need.
Of course, a proportion of that stuff you have in your house will be things that you haven’t worn or used in months (or years). This stuff is your secret savings account that you never knew about. Why not have a stall at a boot sale or list some items on auction websites or second-hand apps like Vinted?
Popular items at a car boot sale include clothes, accessories, kid’s toys, baby goods, shoes, furniture, ornaments, photo frames, jewellery, books, CDs and DVDs. Top items to tell on eBay include home decor, garden accessories, technology, fitness, fashion and collectables. Everyone has these sorts of things knocking around at home so why not have a look through your cupboards and give it a go?
