5 Simple Strategies to Make Your Money Go A Long Way

Okay, so post-payday weekend just passed and as we enter a new month, it’s time to create a new budget and look for ways to make your money go a long way.  Don’t allow yourself to get stuck in the same cycle of splurging when payday rolls and struggling to make ends meet the rest of the month.

When planning for your monthly budget (bills, savings, etc.), also plan out what you can do to make your money go a long way. 

To help you, here are 5 simple money strategies that can make a difference in your day to day finances.

1. Plan your month in advance.

Before another month begins, take time to sit and plan your month using an online calendar, your handwritten planner or blank calendar templates.  Plot down all the scheduled meetings, appointments and payments that you need to do for the month then set reminders and notifications through your smartphone or email.  Aside from using the wonders of technology, I recommend that you still make use of the traditional wall calendar “notes” to get visual reminders.  This way, you can save money from cancellation or missed appointment fees, last-minute gift-shopping, late bill payment charges, etc.

2. Plan your meals.

Meal Planning is basically carrying out a plan of what you will be eating and snacking for a specified time period and shop for corresponding ingredients.  After that, you prepare, cook and portion out your meals ahead of time.

By doing this, you get to save a lot of money in a variety of ways.

  • You shop for groceries more efficiently. No more last minute grocery runs and no more ingredients wasted since you will be everything you need in exact measurement and proportions.
  • You will always have a meal ready at home, preventing you from ordering take-outs or eating out.
  • You are less prone to waste food.
  • It will be easier for you to pack lunch for work and save you money from eating out during your break.

3. Look for free activities.

We all need some fun and entertainment but sometimes, it can get pretty expensive, especially if you have a big family.  So take advantage of free activities, services and events offered by your neighborhood or city.  Many cities often host free concerts during the summer time.  Explore your city, explore nature – the options are endless, all you need is a little creativity and research.

4. Always compare prices.

Whether it’s your mobile plan, car insurance, gym membership, a device or anything that you need to purchase, make sure to always compare prices.  Take time to look around and look for ways to get the best deal.

5. Find ways to earn extra cash.

If you really want to make your money go a long way, bringing in more cash would be very helpful.  Look for ways to earn extra cash – get a part-time job, host a garage sale, sell your pre-loved belongings online or start up a small business.  Now that it’s summer, lots of money-making opportunities await.

But at the end of the day, it still comes down to your spending habits.  These money-saving strategies and income opportunities are nothing if you don’t spend your money wisely.

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