Money is tight sometimes, and it’s been especially difficult for people this past year due to the pandemic, and it’s becoming more and more important that we know how to stretch what money we already have. When what you have doesn’t cut it, you need to figure out new ways to bring it that little bit closer to the next payday. There’s always going to be things you need to pay for, and you’re always going to have needs that you need to cover – so how can you pick and choose what you should and shouldn’t be paying for? Discipline plays a big part in it, and how you place value in things.
Pick up another form of income
The simplest yet most difficult way to stretch your wallet is to find another form of income. That’s not to say you should try to run two full-time jobs at the same time, everyone has their limits and that could push them! There are many ways you can make some money on the side, and it can really help you to lessen the load on your wallet. Whether you’re finding ways to monetize your skills online, figuring out what belongings to sell online, or taking up a part-time job to help you pay the bills; there has to be a way that fits comfortably into your lifestyle!
Sometimes the money you need is much more urgent than finding a way to earn it, and you need to borrow it somehow. Well, that’s not always an option for some people. Many people prefer not to take out a loan due to the riskiness of not being able to pay it back, however, a credit score can determine your eligibility. With that said, there are many types of loan that can make it easier and less stressful for you to take out. For example, you can borrow money against your gold. What this means is, you’re taking out money and using your gold as insurance. If you’re not able to pay it back in the future, then your gold is there as a substitute for it.
Discipline is important all the time every day, it’s what allows us to resist temptation and show some restraint. In this instance, having the restraint to reduce your spending is important, and it’s going to make a lot of difference when it comes to buying things. That’s not to say that you should only buy things that you need, as that’s hard to determine. You could argue that you don’t need to buy yourself nice things here and there, but that’s a different story – rewarding yourself is important for mental health, and it’s something that you should do from time to time!
Disciplining yourself with your spending is more about figuring out when you should say no to things. You don’t always need to buy brand things, and you don’t need to buy things that you aren’t going to use or want within a few days. If there’s something you really want, wait a week or so and decide then if you still want it – if not, it wasn’t worth the money!
Consider what you need and don’t need
We all have things that we don’t need lying around, and we all continue to buy them day in day out. It’s easy to be tempted by an offer, only to later realise that you didn’t really want it or use it as much as you thought you did. In the event that you have many things that you don’t really need, you should consider getting rid of them. If it’s valuable possessions, you could make a little bit of money from them if you know how to sell them. Clothes, for example, can be easily sold online and there are many sites that you can use to do that.
If there’s one thing that many people are sitting on but not necessarily using, it’s subscriptions. Are you paying monthly for something that you don’t use very often? Would you miss it if you didn’t have it? If not, then you should reconsider whether or not it’s worth your money. While it might only cost you a little per month, that’s a much bigger figure once you get to the end of the year.
Be more self-sufficient
If you know how to do more things for yourself, and make more things for yourself, you’ll find that you don’t need to spend as much money on them. If you can make good quality food, then you won’t need to spend as much on eating out. It can save you lots!