6 tips to save money in bad weather

New data from social research firm YouGov shows that 84% of Brits are concerned about changes in the cost of living over the next six months, with 39% expressing major concern.

To help millions of people deal with rising costs, says Clare Framrose, savings director at Atom Bank, we can take steps to be better financially prepared for the future. On a personal level, it’s about lowering the cost of living and making the most of the existing savings program.

Experts offer 6 tips to alleviate the ever-rising cost of living crisis.

save challenge

According to Clare, people are more likely to adopt habits that challenge and stimulate themselves. You can save this cheat.

You can set different challenges for your savings. For example, the challenge of rounding up spending: in January you spend 13.5 million, but in July you set a goal of 13 million. The figure of 500,000 VND is the difference you save.

You can also offer daily savings challenges, e.g. B. Give away 100,000 VND per day for a whole year.

always compare prices

Clare advises that as the cost of living increases, it’s a good idea to find a bank that offers you a competitive interest rate so you can earn more.

Additionally, you should investigate all incentive programs, from daily shopping programs to workout cards, discount cards… to ensure you save the most on your living expenses.

It is important to be more proactive in negotiating and negotiating to reduce costs. Don’t be fooled into thinking it’s “not worth it” because many small amounts add up to a large sum.

You should review the payments you pay for yours and your family’s, including cable TV, telecom, etc., and then compare the prices and quality of providers to choose the most suitable one.

Experts also recommend changing the brand you are used to when the price goes up, including in the fashion, food and beverage industries, etc. For example, if the bakery you shop at usually increases the price by 5%. , while trying to find another bakery with relative quality and lower price…better to switch to this new brand.

reduce travel

Numerous tourist attractions, cheap air tickets … They are constantly attracted, especially young people. However, you should recalculate the budget you want to spend on travel and only use that instead of fussing and buying tickets to go out.

In addition, you need to choose destinations that fit your budget and don’t.

Always keep a clean credit history

Some people will have a hard time when they borrow from the bank, they have to pay higher interest due to their bad credit history (they used to borrow money from the bank but they paid on time, they didn’t pay in full…). So if you have clean credit, you can access lower interest rates, which can save you a lot of money when you borrow money to buy a house, car, etc.

learn to invest

Instead of accepting the price increase and increasing one’s income level, it is better to find ways to increase income. You should also know where your cash flow is going when it is appropriate and find the investment channel that best suits your capital.

Claire adds that there are many courses, as well as TikTokers, financial bloggers who can offer free lessons, insights, etc. for you to learn from.

balanced life

The cost of living becomes a burden for many people and makes us think about personal hobbies like going out to eat, signing up for a Netflix account… However, it’s a good idea to make a list of the most important things. balance your personal life and things that aren’t absolutely necessary, stick with it, or give it up.

Some personal hobbies are absolutely essential and bring positive energy into life, making working and earning money healthier.

Claire concludes, “While it’s important to be financially savvy and savvy, that doesn’t mean you should stop enjoying life now and just save for the future.”

tuy linh (via Glasgowlive&itv)