MoneyMagpie

May 23

Boosting your income in the most unlikely ways

Who doesn’t want to boost their income? Especially at the time of year where the need for a holiday is at its highest. Wanting some time away with the family, enjoying the sun and getting that well deserved break from work. But if your current budget isn’t allowing enough savings, you can feel trapped and stuck. However, there are ways you can begin to boost your disposable income, and some of them may seem like unlikely sources. Here are some ways you could save starting today.

 

Working on your current bills and reducing them

One of the biggest ways you can begin to save money each month is to look at your current outgoings and then reduce them. It is easier said than done. A look at your bank statement may first highlight bills leaving your account that you no longer thought was a live bill. Cancelling these right away directly with your bank could see you save instantly. You can then look at what you need to pay for each month and compare to see if there are any better deals out there. Switching energy or insurance suppliers can mean you save each month as these companies tend to save their best deals and rates for new business.

 

Comparing deals for mobile phones and other necessities

The likelihood is that there are things that will be due for renewal and changing over the course of the year. One obvious one would be your mobile phone. If you have it under a contract, there will be an upgrade and end point, and most people just stick with the same supplier. However, if you were to compare mobile phones and see what other networks were providing, you may find you get better deal monthly and even upfront in terms of costs. Other things to compare would be purchases you need to make, maybe replacing the TV or needing to buy a big piece of furniture like a mattress or bed. Comparing deals will give you savings on those necessary purchases.

 

Using vouchers and coupon codes

Using voucher codes and coupons can instantly bring a price down when presenting them at check out. This could be done online as well as in store. Coupons can be used for all sorts including meals out and grocery shopping. You can find them online on dedicated voucher websites. You may also be keen to try cashback sites where you can earn extra by doing your normal day to day shopping online.

 

Meal planning and reducing your biggest bill

Finally, grocery shopping could potentially be the biggest bill you have each month after things like rent and mortgage payments, but it is the one bill completely in your control as you can spend as little or as much as you want to. Grocery shopping can easily be made cheaper by meal planning and only buying what you need. You could also change where you shop and switch from branded to unbranded products to see a real difference on that total cost.

Hopefully this will help you boost your income.

 

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