It would be nice to wave a magic wand and suddenly have enough money to cover all of your bills with plenty leftover for fun. Isn't it ? But, The truth is that prices are going up and you may need to do more to stretch your pay-check to cover rising costs.
First Step as elders may say will be a Budget
This may not seem like a way to stretch your pay-check, but if you carefully plan how you want to spend your money, you will have more money to spend on the things you want to. But If you do not have a plan, your money will quickly disappear as you try to cover your expenses. It is one your strongest money management tools. It can be as flexible as you need it to be, so that one month you spend more on your vacation expenses and cut back on eating out or in other areas.
Keep Looking/checking at Your With holdings
A flexible spending account, monthly retirement contributions, and your health insurance premium can reduce the amount the Income tax department takes out, and you may not find a big cut in your pay-check. Open enrollment for these programs usually runs in the fall, and you should take advantage of them now if you haven't already.
Use those Shopping Skills for Better Plans
It is worth shopping for a better rate on your cell phone, your cable provider, car insurance, and your gym membership each year. New customers are offered better deals than existing customers. If you sign up for a contact, then you should shop each time your contract is up for renewal. This can lower your monthly bills, without much work, and make your money go farther. Additionally you may consider reducing your plans minutes, or the channels to reduce your monthly deal, especially if you do not use them all each month.
You can make your money go farther if you do not need to pay interest to a bank. Think about it, if you use a credit card to buy an item because it is on sale, but only make the minimum payment you are going to pay much more in interest than you originally saved on the purchase. Paying with cash or debit cards gives you more spending power for your rupee. If you do not need to make any monthly debt payments then you will have more of your pay-check to spend and save each month.
Try to Split Costs When You Can
In your twenties bulk buying does not usually make sense. If you are single or even a couple, you may have a difficult time using up what you purchased before it goes bad, and if you throw enough of the products away, then you really are not saving money. You can solve this problem by doing a co-op with a few friends, where you buy the bulk items together, split them up and divide the cost with each other. Use car pooling to save on petrol that cost you.
