Ever feel like money is too tight each month, and you could really do with a pay rise and more money in your pocket?
Sometimes the answer isn’t asking the boss for a pay rise (if you are lucky enough to consider that option) or looking out for a new job.
Often the answer is looking at your spending and saving patterns, as bad habits might have crept in.
Here are 6 ways you can give yourself a Pay Rise starting today, and take a matter of minutes to make happen.
** SPOILER No Begging your Boss included!**
Do the hard work today and reap the money rewards for months to come.
// Try the cheaper brands of food for a week only
Consciously choosing where and how much money we spend on Food and Drink also means we tend to make better healthier choices, and often the cheaper brands or versions of products taste the same but give you up to 25% savings.
For example – Why not test out a different Supermarket this week? People rave about shops such as Aldi and Lidl – but have you given them a go?
What if you could save money on exactly the same food items you need? It would be worth it.
Take the Downgrade choice by moving from Premium Brands of Food products to Shop own brand.
Don’t like the taste? Simply move back to your original knowing you at least tried it for a week to see if you could save money!
// Do a full review of your Utilities bills and compare the market
Your essential utilities and home bills are a great place to start, and usually a very competitive area of the market where lots of companies will be fighting for your business.
Take 30 mins out of your day and use comparison sites like comparethemarket.com or gocompare.com and check you are on the best tariff for your requirements.
If you spot a cheaper one, take action right away and phone up your current provider and see if they can match it.
Write down the amount you have saved so far in this area, and give yourself a pat on the back for the pay rise back into your pocket.
// No Council Tax payment months – save or invest that money!
In the UK, every February and March there are no monthly Council Tax payments – if you pay in monthly installments of course.
Usually this amount is between £105 to £250 per month for most UK households, so during those months take that normal payment from your budget and put it straight into your savings or even better invest it and watch that money grow.
Don’t know how to invest – check out my post all about your options here and why everyone should be investing some portion of their money, in my opinion.
// Check your Mobile phone contract
Another simple way to save money each month is to check your mobile phone contract and that you are on the best deal.
Use a comparison site again with your current usage mins/data range, and see the results.
Often people sign up to a contract to get the latest phone – consider instead saving up and buying a handset and going Pay as You Go for a while to see if you truly use your data and call/text allowance like you think you do.
Not able to switch just yet? Note down the date in your diary when the contract runs out within a month or so and phone them and haggle for a better deal.
// VIP it for a month
Look closely at what luxuries you spent your hard earned money on, and if you could reduce it for a Cheaper model/lower cost or Pay as You Go to see if you truly need it.
For Example – if you have a Gym membership are there any local cheaper ones?
Do they even have an option to Pay per class attended instead and see how often you really use it? Or can you go without it completely and make a Homemade Gym with some weights in the house?
That costly magazine subscription? How about cancelling it and buying each month instead.
If you miss having it through the door and buy it each month and then return to getting that yearly subscription in place.
Remove any non essentials for a week at least and see if you can live without them – chances are you might also learn about your habits and whether you truly need that luxury after all.
// Cancel all paper bills
Did you know most times when you receive a paper copy there is a charge for it?
Most companies want you to go paper-less (HINT – it costs them nothing as well) so make sure if you still receive any credit card or bank statements through the post to check out if going paper-less to view your bills online saves you even a £1 or two.
// Move as much debt as you can to a 0% APR card where possible and use the snowball effect to knock it out!
When our family was paying off £22k worth of credit card debt (note to self – this isn’t fun for anyone but totally possible to pay off with hard work and dedication), we looked at two options.
First one was to move all the debt from the few cards to one 0% interest card, usually these introduction offers are available for a few years at least and long enough for you to make it a goal to pay it off completely.
We went with the option of a consolidation loan to cover all the cards with a low rate of interest instead, as we couldn’t get a card with a large enough balance to pay off all the debt in one go.
If you can, and know you will absolutely pay off the debt within the 0% interest time limit – it might not be a bad option and save yourself any more interest on top of what you already have.
Then set a game plan right away to attack that debt with every penny you have.
No excuses now!
// Still stuck for ideas?
Why not sign up for my 7 day AutoPilot Money Challenge completely free workbook, videos and step and step guides how you can implement a smarter spending and saving plan for your life right now and working towards financial freedom and security.
Everyone has the chance to use their hard earned money to become rich, so why not learn the techniques how to make that happen.
I will also help you budget smarter, spend money on the things you truly love and help you save money along the way.
With my Tried and Tested Principles, we can change your financial life around completely in just 1 week.