Making your money stretch further

If improving your finances is on your resolutions list for 2018, you may be searching for ways to make your money work smarter for you.

Fortunately, a few simple changes can see you reach your financial goals faster. Here are three strategies to make your money stretch out further:

Seek out better deals
Have you been with the same service provider for your phone, electricity and internet for years without reviewing your plan? You may find you no longer need the same plan. Consider shopping around for better deals or speak to your provider to see if they can offer a better rate.

Reassess your spending
Are the things you are spending your money on enhancing your life? Analyse and evaluate your spending habits and look for patterns such as impulsive purchases or mindless spending. After evaluating your spending, create a realistic budget to follow. Take into consideration all of your expenses and income across any given year, then allocate how much money can go towards spending and how much can be saved.

Eliminate non-necessities
If you are spending more than you earn, it is time to eliminate some of your non-necessities. Perhaps you could cut down on some subscriptions for music or TV, or commit to spending less money on takeaway food and coffee. Over the course of a year, a weekly saving of as little as $20 can mean an extra $1040 to put towards a holiday, your super, or for a rainy day.

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