Making your budget stretch: Three Things you can do

Opening up your bank statement towards the end of the month can be a stressful experience for many of us. Somewherealong the way, all that money that was earned last month has slowly but surely disappeared, and now things are looking a little tight.

While living frugally for the final week of every month is one option, there are other things that you can do throughout the month which can make your money stretch that bit further. Take a look below for some inspiration about how to make your money go the extra mile.

Cashback offers

Online shopping is a staple of modern life and, while it is more convenient, this has also afforded us the opportunity to spend a lot more money on items we wouldn’t have even known existed previously. Fortunately, there is a way to claw back some of your retail outgoings by signing up to a cashback provider.

Cashback sites partner with retailers and allow you to get varying amounts of money in the form of cashback after a purchase is made. Depending on the site and spend these offers can be quite sizeable, sometimes up to as much as 40%back.

All you have to do is to be redirected from your cashback site to the retailer’s store and the cashback code should be stored for your purchase. You’re basically getting money back for making purchases you were going to make anyway. It’s always worth checking these sites before making a purchase to see if cashback can be applied, after all it’s free money!

Separate wants and needs

Often overspending can be altered by a change in mindset. By separating items into wants and needs you can force yourself to question every purchase and, therefore, determine whether the item you’re potentially purchasing is worth the money or not.

You may want that new jumper, but do you really need it? And couldn’t that money be spent better elsewhere this month? This thought process will help reduce frivolous spending and will reduce your outgoings every month. You can always go back for a ‘want’ in the last week if you’ve got the cash.

Earn extra cash from home

What better way to make your budget stretch than by making it bigger in the first place? Adding a second stream to your income has never been easier thanks to the internet, with several opportunities available to start at right now.

The best place to start is with your own hobbies. If you can find a way to make money doing something that you enjoy,you’ll be that much more enthusiastic to carry it on past the initial months. Whether this is photography, art or writing there are many ways of creating and then selling your personal projects online.

Of course, a side income doesn’t have to be a passion. There are other side endeavours which can be done to boost your budget. Whether it’s taking part in surveys, selling your old belongings or even rating other people’s music, it’s amazing what you can earn money from these days.

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