Most of us start the year with the intention to improve our monthly spending habits and with the hope of making meaningful financial progress in the months to come. It’s a valiant effort and the first week of January passes by without a hitch. Then, sudden costs arise and you fall back into bad money habits while exhausting your financial resources. Before you know it, you need another payday loan. And while this may feel rather disappointing, it’s a more common situation than you think as not many of us are equipped with the knowledge to make smart financial decisions and many of us do actually face the same yearly financial upsets and failed monetary goals. We often equate positive financial literacy and adequacy with savings, stocks and assets, however, you would be pleasantly surprised to know that it is simple, everyday financial choices and responsible actions that can also make the most impact.

These are some of our suggestions, that you can implement immediately.

Become Energy Efficient 

Energy bills often seem like an unmanageable and unchangeable aspect of our lives, without having the funds to install smart or solar technology to bring household costs down. But you needn’t have to run out and buy the latest in smart lighting to start saving money. You can start monitoring your electricity usage and start making the necessary changes to cut back electricity usage within your home. Switching off lights when you leave a room and turning off your television while not in use, among other proactive ways, can positively reduce your energy bills, leaving you with more money for the month.

Budget, Set Limitations And Shop Better 

When shopping most of us quickly make purchases without a second thought while moving up and down the store aisle. It’s so convenient and quick that we forget we actually are spending money because it doesn’t feel like a real-life transaction. We keep adding to the trolley thinking that low-cost items are cheap, but they all add up. Before shopping, set a list of needed items and set a budget. Better yet, limit yourself to a maximum number of shops per month and further restricting yourself to a 24-hour ban from buying goods. If you find something you really want online or advertised on tv, waiting 24 hours to evaluate its necessity in your life can help you make a better financial decision and more often than not, lead you to reconsider this desired purchased and avoid it.

Opt For Cheaper Alternatives And Lessen Indulgent Spending

While life has become tremendously more stressful than say a few years back, it’s quite understandable that many feel drained by the end of every week and seek out beauty and spa treatments to recuperate, or alcohol or nights out to unwind and escape life for a bit. However, these weekly trips for a massage, a night out on the town or romantic dates with your partner do add up and before you know it you have spent an exorbitant amount of money and are now left pretty much scraping the bottom of the financial barrel. Rather plan a monthly trip, spend more on cheaper pamper treatments that you can DIY at home, and opt to wine and dine from the comfort of your home.

Making more sensible money decisions this year should be everyone’s financial goal. And though it seems rather easy and achievable, it can be harder than one may think. It’s a complete lifestyle shift that needs to happen and we at Acorn Finance can help you get started. We’ll also be there when there is no other option but to apply for a loan. For payday loans and other financial support, speak to us today to ensure you get the help you need.