Whether you’ve got some big money goals and you’d like to save for a large purchase like a house, or you’d simply like to get out of debt, saving money can sometimes feel impossible if you feel like you’re barely getting by.
Luckily, there are a few things you can do to help you reach your goals faster:
Choose a data-only sim
Most people spend more time using their phones for data like social media and email. That’s why it often doesn’t make sense to use a traditional plan with a traditional phone company. Data sim only deals are an excellent option, but before you choose a wireless plan or carrier, it’s best to determine your usage habits and needs.
Look at your phone habits from the past year. Consider how much data you’re really using each month and whether you need to top up throughout the month. If you travel frequently, you could benefit from choosing an international plan so you don’t need to buy a sim card when you’re on the ground.
Plans range from the £6 Pay As You Use plan to the £15 BT Mobile Data SIM Only 15GB plan, so be sure to check them out.
Commit to your saving goal
A wishy-washy goal is going to be difficult to stick to. That’s why it’s a good idea to write down your goals and commit to them. That way, you can also create some milestones to celebrate as you meet them along the way. For example, if you’re hoping to save a downpayment for a house, you may feel like this goal is out of reach. But if you can commit to saving a few hundred a month, and then maybe even a few hundred a week, you’ll quickly begin to get some momentum- the kind of momentum that helps you stay committed and motivated.
Create a side hustle
Whether it’s walking dogs in your free time, driving for Uber, nannying, or picking up an extra shift, a side hustle can be a great way to pad your savings account. Another option? Online work. Depending on your day job, you may be able to use the same skillset to freelance, picking up a few hours at night and transferring that money straight into your savings.
What are your money goals this year? Leave a comment below and let us know.