As of last September, roughly half of Canadians were living paycheque to paycheque. If you count yourself amongst these numbers, you know it can be challenging to live within your means — but it’s not impossible. A budget is one of the most important tools you can have to keep you on financial track. Keep reading to learn about more resources that you’d be wise to include in your fiscal toolkit.
Know Your Small Dollar Loans
It may sound unusual to talk about loans when you mean to save money, but these products are an essential way to be prepared when the unexpected happens. We can’t always know when we’ll need to spend cash. Sometimes we’ll get slapped with a cell phone overage charge or a parking ticket we can’t get out of it. When your paycheque is already tied up with other necessities, like rent or groceries, it’s time to learn about payday loan options. These financial products, like the ones you can find at GoDay, can help you cover all of your responsibilities. Ranging from $100 and $500 for first time borrowers, loans from GoDay act as a bridge between one paycheque to the next, so you aren’t stuck choosing between paying for groceries and your parking violation.
It’s true when they say there’s an app for that. Since you’re already loading your phone with all matter of games and fitness trackers, you might as well search out budget-friendly apps while on the Play Store. There are a variety of apps designed with the cash-strapped in mind. Gas Buddy helps out those who see their extra cash go towards fuel for their cars. It’s a community-based app that lets users update the cheapest, real-time prices of local gas stations. When you have to make household purchases, an app like RetailMeNot connects you with the top deals and coupons at your favourite stores. If you have to make these purchases, you might as well get a discount.
Cut Yourself Some Slack
As important as a budget can be to your finances, the wrong kind can be just as damaging as no plan at all. Overly strict budgets are like restrictive diets. When you eliminate all of the sugar, fat-laden treats from your meals, it’s easy to fall off the bandwagon and binge on exactly the wrong foods. The same goes for cutting out overspending all at once. You’ll be more successful with your budget if you slowly remove frivolous spending over a long period of time. That way you get used to your frugal lifestyle. By keeping your monthly trip to the movies or your weekly date night, you’ll also save yourself from boredom.
Living within your means is possible, even if you live on a shoestring budget. Get creative and take advantage of all of the resources available to you. Download as many apps as your phone can store and don’t forget to ask for help when you need it. These tips can help you save, even if you’re living paycheque to paycheque.