Now available for up to 6 months
If you can’t live a day without spending at least some amount of money on anything, if your bank account is overdrawn and you can’t keep to your monthly budget, then you may have some money management problems. Worry no more - we have some tips to help you learn how to control spending. It can be hard to follow at first but if you get used it, your wallet will thank you afterwards.
Pay in cash. One of the easiest ways to start is to set yourself an amount of cash to use per day and to only carry that amount with you. People tend to spend more money when they use debit/credit cards because swiping is easy and doesn’t take much effort. On the other hand, you will find yourself spending cash more carefully because it will be harder to say bye to these notes.
Find out your spending triggers. If you still haven’t started writing down all your expenses, you should start now. We have already mentioned some of our favorite budgeting apps to help you stay on track. Tracking your expenses will help you analyse what usually triggers you to buy some things. For example, every Wednesday you grab snacks at the supermarket after yoga class because you feel hungry and home is a 30-minute walk away. A solution to this unnecessary spending would be to take something with you from home before the class to avoid extra spending on your cravings.
Set a goal. Inspire yourself to save money by setting yourself a goal. For example, you have been dreaming of going to New York for several months or maybe you need to replace your old laptop with a new one. Now, before ordering another cup of a fancy latte or buying an unnecessary t-shirt, ask yourself if that can wait and set that amount aside for your goal.
Leave it for later. Before buying anything, set it aside for 24 hours and weigh the costs and benefits of the purchase. If it’s something that really fits the budget, then maybe you should come back and buy it.
Getting used to good spending habits may take some time, just remember that even a small change in your spending activity can have a good result on your bank account. While you are getting used to the new lifestyle, Creditstar can help you with extra cash for any necessities. The application for a loan can be filled out on a computer or a mobile phone and if approved, the money goes directly to your bank account.
Keep checking our blog for more financial tips and weekly advice which will help you manage your financial status.
Amount of credit: £300 for 4 months. Interest: £185.68. Interest rate: 274%pa (fixed). Four repayments of: £121.42. Total amount payable: £485.68. Representative 1081.24% APR.
Interest is calculated at 0.75%-0.8% per day on the principal amount depending on the loan term.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Every loan is a financial liability and not all applicants will qualify. Before entering into any Agreement read the Terms and Conditions, if necessary consult with a specialist.