Sick of worrying about money all the time, and struggling to make ends meet towards the tail end of each month, crawling along towards payday? Take a look at this quick list of tips on how to overcome your finances. Depending on your current financial situation, you never know, they might serve as just that bit of inspiration that you need!

Save some of your money

Getting into a rhythm of habitually saving your money, rather than spending it on stupid things that you don’t necessarily need, is needless to say a great way of feeling more afloat financially. It can be hard getting to grips with the practice of putting off instant gratification in favour of long-term satisfaction, but you’ll find yourself being a lot more fulfilled in your purchases.

A good way of starting with new savings techniques is to try out one of the many savings challenges out there. MoneySavingExpert recommend the 1p savings challenge, in which you store away a single penny, increasing each day, until you end up with a cool £670. It can get quite hard in the December months, reaching £3.66 by the end, but you get the general gist.

Invest some of your money

Once you’ve got some money saved up, you might decide that you want to do something productive with it, and try to utilise and leverage it in order to further your financial control. Investing your savings will put it back to work on your behalf, rather than just sitting and festering in an account somewhere.

For a more advanced investment strategy, buying and maintaining a buy-to-let property can be a great, long-term financial decision. Not only does the property market typically afford long-term, stable growth on your capital, but with rental income generated by the potential tenants living within your property, you can start earning back some of the cost right away. RWinvest state in their guide to the property market that housing prices in the UK specifically are growing at a rapid pace, and so this market specifically might be worth one looking towards in 2020.

Run a tight ship

Regular (and often unnecessary) monthly payments getting you down, and often surprising you when you could do with it the least? A great first step towards feeling in control of your bank balance is to become hyper-aware of what’s actually going on. The vast majority of people have a bunch of outgoing payments and bills that they either don’t need or are even completely unaware of, and so sorting through these will no doubt leave you with an extra few quid to allocate accordingly. Remember: cancel anything you don’t use! You can always reinstate a product/service if you find yourself wanting it again in a few months’ time, and you’ll have saved yourself a few payments that would have otherwise gone wasted down the drain.Tip – want an efficient way of handling your finances, and keeping on top of what’s going in and out of your account each month? If you haven’t already, start using your phone to its full potential and download one of the many finance apps to help you out. The Big Investment blog has a good list of finance/savings apps if this sounds interesting to you. From giving you notifications on your spending, to criticising your habits and giving tailor-made advice, there are plenty to choose from.

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