Effective Ways You Could Be Saving Money and Even Earning Extra Cash

If you’re like so many others out there, 2020 has proven to be a very difficult year in terms of finances. The reality for many people is that during lockdown they couldn’t work, and because of the ongoing effects of the COVID-19 pandemic, there are still plenty who aren’t working, who have lost their job, or had their hours cut back and aren’t earning what they used to. All of that has resulted in some very tight finances.

So, while the world continues to wait and hold on to hope for a safe and effective vaccine, you still have bills to pay. In order to ease some of that stress and pressure, a few money saving tips can prove to be very beneficial, as well as ways that you can earn extra cash at home. So, let’s take a look at some financial advice that can help get you through these times.

Money Saving Tip 1 – Cut the Unnecessary Spending

The first place to start is by writing down all your monthly expenses and being really honest with yourself about what you can cut out entirely, or at least lower the cost on. Inputting everything onto a budget is a great way to get a clear picture of what you’re making and what you’re spending. And to keep things simple, you can just download any free budgeting app on your mobile device, there’s no need to write it down on paper.

If you’re going to use an app, be sure to find one that allows you to input and track expenses as you go. This will help ensure you don’t overspend in the month and find yourself in the red.

Money Saving Tip 2 – Stop Ordering Takeaway Food

Here’s another tip that may not sound like a big deal but, in reality, it can save you all kinds of money. By eliminating all the takeaway food you order, you could find yourself really shocked at the results. The savings can be nothing short of huge. If you’ve been in the habit of ordering takeaway each day of the workweek, it’s time to start packing a lunch instead.

You can also cut back on takeaways by making sure you’re prepared in terms of meals for the week. Experts recommend creating a one-week meal plan that covers all meals and snacks, building your shopping list based off the plan, and sticking to those items only.

Money Saving Tip 3 – Cut Down on Transportation Costs

If you’re in the habit of driving, taking the bus or train, or a taxi service everywhere you go, it may be time to look into alternative means of transportation. Whenever possible, try walking to your destination, biking, or a ride-share service. You can also plan out your errands in a more efficient way so you’re not making a trip just for one item, rather you’re getting a number of things done at once.

Money Saving Tip 4 – It May be Time to Downsize

Depending on how much money you are trying to save, it may also be time to downsize. Moving to a smaller home or flat means you’ll be able to save money either on the mortgage or the rent. Sometimes it’s not a matter of downsizing the space, rather it means you need to move out of a city-centre and into a more remote area in order to bring down the cost of living.

Clearly, where you work will determine where you live, so that will need to be considered. If you downsize your home only to find you spend more in commuting costs, then it didn’t really solve a problem.

Earn Extra Cash Tip 1 – Take Advantage of Referral Programs

Smart Phone

If you are looking to earn extra cash from home, a creative idea is to look at referral programs and how they could put money in your wallet. For example, you can earn cash with Lebara refer program, which gets deposited right into your PayPal or bank account.

Here’s the great part – it’s not a one-time deal; you can earn up to £50 per referral. That can add up pretty fast if you have a particularly large group of contacts. There is no cap on the number of referrals you can get.

The way it works is that you start by signing up for one of the Lebara plans, you share the unique link given to you on your social networks, and if it results in a friend signing up, you get the cash and they get double data for their first month – that’s a win-win.

For those unfamiliar with Lebara, it is offers monthly SIM-only plans, which means you can cancel or change your plan any time. They are all about giving the customer control over what they want and need. Plans start as low as £5 for 1,000 UK minutes, 1,000 UK texts, and 100 international minutes. From there you can move up to such plans as the Unlimited plan which offers unlimited UK texts, UK minutes, data, and international minutes for just £35. They are 30 day rolling plans, they don’t require a credit check, there are no shocks or surprises on your bill, and the network itself is fast and reliable.

Referral programs can actually work out to be a great way to save money while earning extra cash.

Earn Extra Cash Tip 2 – Pick Up Extra Work

Working from home

You can also earn extra cash at home by picking up extra work. That could translate into freelancing or starting a consultancy business from home. Just be sure to take your time researching the market you will offer your services in, paying close attention to pricing and what your competition is doing. While you don’t have to be the absolute cheapest out there, you also don’t want to price yourself right out of the market.

Some great examples of work you can do from home include: blogging, editing, graphic design, medical transcriptionist, virtual assistant, social media manager, web developer, a call centre representative or even finding free stuff online. Websites like craigslist free stuff is a great way to save money but helping you find the things you want for FREE!!

What you pick should be based on your particular experience, skills, and training. Figure out what makes you unique and what is your expertise, and go from there.

Earn Extra Cash Tip 3 – Start Selling Stuff Online

If you happen to have a lot of ‘stuff’ just lying around in your home that you don’t need or want, this can be another way to earn cash from home. Selling stuff online can generate some serious cash depending on what you have to sell, and how effective you are at listing your items.

It may not even be things you already own; maybe you are the creative type that can make something to sell such as jewellery, clothing, purses, and so forth. If that’s the case, you can create your own online storefront.

It’s Time to Get Creative

So, while financial issues can be extremely stressful and are not to be taken lightly, it’s also important to realise that with a little creative thinking, some budgeting, and perhaps a little sacrificing, those big problems can become much more manageable and give you the breathing room you need. Whether you just need a couple of these tips to make an impact, or you need all of them, it’s important to start somewhere.

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