What To Do When You Live Pay Day To Pay Day

*This is a collaborative post*

Saving up is always a tricky thing to do, even for those in the best financial situations. We live in a world where temptation is all around us – and usually at high costs! We’re constantly exposed to luxury holidays, stylish clothes, and incredible restaurants, making spending money all too easy. 

In an ideal world, everyone should have an emergency fund where pockets of money can be saved each month. Not only does it give you peace of mind, but a small savings account can grow into a medium sized one, which eventually can become a big pot of savings. Saving up takes determination and discipline, and it’s all too easy to break the cycle. However, it’s more than possible to do.

Let’s take a look at what you should do when living from one pay day to the next: 

1. Don’t let the stress get to you

When it comes to dealing with your situation, it is important to not let the stress get to you. You should try and find ways to unwind and relax. For example, you can always head to unibet.co.uk to play casino games if you don’t know where to start. Or perhaps you could pick up a new book and find a new favourite read. 

2. Understand why you need to save 

We only effectively do things when we can see why we need to do them. Give yourself a solid reason why and keep this reason close to you. Some main reasons why include saving up for a more comfortable life, saving to eventually start your own business, or one day being able to buy your dream house or book that lavish holiday.

Write the reason down and keep it in a safe place, like in an envelope on your bedside table or in a desk drawer. If you’re not in a good financial situation to begin with, start the aim off small. Anything too big will mentally scare you. 

3. Apply new beginnings

Sometimes, we’re so wrapped up in old habits that it’s hard to break out of them. A good way to start saving and see it as a new project is to open new bank accounts and saving schemes. It’s like creating a fresh, clean slate – something to be proud of and call your own. 

If you don’t yet have the money to put into the account straight away, don’t let this put you off. You can open a savings account and put a couple of coins in – it doesn’t matter. As long as it is open, and it isn’t empty, you’ll be inspired to make this a project. 

4. Double check all your bills 

You’d be surprised at how many people float by without analysing their monthly utility bills, without realising cuts can be made. If you have credit cards, look at lower rates or anything that can save you a bit of money. Also, lots of utility companies offer discounts to new customers if you switch, so it could be worth spending an afternoon exploring these and making some calls. Put in the extra effort to shop around and assess where your money is going.