2016 is fast approaching and if you fancy setting yourself some personal finance-related targets for the year ahead, why not take a look at the following blog posts for some inspiration?
Resolution #1: Pay off debt
If you’re struggling to decide which debts to pay off first, Debt Camel has created this handy guide to help you separate priority and non-priority debts.
Skint Dad is well known for tackling debt and blogging about the process. Have a look at his 9-part guide to taking control of debt. Also find out how Frugal Queen paid off £45,000 worth of debt in just two years.
In order to pay off your debt and prevent your finances from spiralling further out of control, you’ll need to make sacrifices. Sometimes the sacrifices you’ll have to make could lead to judgement from others, but it’s important to put yourself first. I’d definitely recommend paying Hayley from Disease Called Debt a visit because she’s written a post about how herself and her husband once had to return the Christmas gifts they’d bought in order to get on the straight and narrow.
And finally, in this Debt Camel post, bloggers Frugal Queen and Maria Nedeva go head-to-head to decide the most effective way to pay off debt. Live on less or make more money?
Resolution #2: Live on less
One of the best ways to live on less involves slashing essential living costs such as rent and bills. ‘How to Reduce Your Rent‘ shares a few ways to reduce the amount you pay to your landlord each month, without having to move in with your parents!
If you’re on a mission to save cash, it can be tempting to look for bargains in the sales. After all, sales are a great way of snapping items up for a fraction of their worth, right? Not necessarily. Here are 7 Reasons NOT to Grab a Sales Bargain.
In my personal opinion, saving money on a regular basis requires that you change your lifestyle. You need to ditch poor financial habits and adopt new ones. A lot of people believe you need to spend money in order to live life to the full, but this simply isn’t the case. For example, here are 98 Cheap Date Ideas that prove you can have fun without forking out for meals and cocktails.
And finally, if you’re living on less, make sure the cash you save is earning a decent amount of interest. Sarah Pennells has written about the importance of taking your money out of low-interest savings accounts.
Resolution #3: Make more money
As great as cutting back on your spending can be, making extra money can see your finances sky rocket! First thing’s first, if you have some spare time, consider picking up extra work outside of your current job. This could involve anything from babysitting to baking or cleaning to copywriting. You could take on a part-time job at weekends or simply pick up a few hours of freelance work here and there. Here are more than 50 Side Hustle Ideas to consider.
Selling your old belongings can also be a great way to make extra money. If you fancy giving eBay a go, you may be surprised to discover just how many things you’re able to sell on the auction site. From Aldi to Harrods has compiled this list of 10 weird things that sold on eBay, including a Nando’s Gift Card for £19 and some used washing up gloves for £14.99.
Working more and selling your old stuff can be great ways to make extra cash, but wouldn’t you prefer to boost your monthly income without having to spend hours and hours cleaning other people’s houses or photographing your old clothes? If you were to get a pay rise at work, for example, you’d earn more than you do now without having to slog your guts out during evenings and weekends. Here are 6 Tips for Getting the Pay Rise You Deserve.
