As much as we’d love to buy all the makeup and beauty products our heart is set upon, life often gets in the way. The cost of living is so expensive these days and it can be frustrating having no money to buy little treats once all your bills have been paid. This article is here to help and will give you some useful budgeting tips to help you buy that extra eyeshadow palette or mascara at the end of the month.
Work out what you need to pay each month
Set up a spreadsheet outlining what bills you have and how much money you should save for each bill. The worst thing that could happen is a Direct Debit coming out unexpectedly when you have no money in your account. It may be useful to open up a separate bank account and transfer your ‘treat’ money over so the money left can pay your bills.
Sort out your debts
If you have a lot of credit card, loan or catalogue debts it’s easy to get into a difficulty as you struggle to pay each account. Some companies can apply interest which only makes the problem worse as the amount owed increases. The first step you should take is to consult a free debt advice company like Stepchange who will help you decide the best step to repay the accounts. You could then consider consolidating the debts into one so you make just one payment a month which is a lot easier to manage. Once you have cleared your debts that money you pay will be yours to spend as you please.
Use comparison sites
If you think you’re paying out a lot for your gas or electricity it’s probably time to ‘go compare’. Comparison sites like Compare the Market, Money Supermarket etc allow you to get quotes on everything from home insurance to the best credit cards. Companies often offer lower quotes to new customers as well which is a great way of saving money. Never rely on a quote a company sends you when your renewal time is up, I guarantee you it will be at least 20% cheaper on a comparison site. For example one year Sainsbury’s sent me a car insurance renewal quote for about £620, bearing in mind i’m over 25 and the year before it had cost around £400. I did a comparison online and it came out at around £430. They just rely on you being lazy and not doing your research so you pay more then you need to.
There’s a lot of ways to make your food shopping a lot cheaper. Whether it’s shopping in discount stores like Aldi or Lidl, using coupons, vouchers or loyalty cards, there’s so much scope to save money on your shopping. Head over to my Loyalty card guide for some tips on how to get rewarded for doing your shopping.
Are you due any benefits?
Depending on your situation you may be due some benefits. It may only be £20 extra each month but every little helps.
Check your bank statement
Have a look at your bank statement and see if there is anything that you buy regularly that is unnecessary. It may be a old Direct Debit you forgot to cancel or a subscription to something you don’t really need. If you don’t want it cancel it, that extra money will go towards your beauty fund.
Put aside some money for a rainy day
ou might not be able to save much but if you can put aside £1 a day, by the end of the month you should have at least £28. If you continue this for a year you’ll end up with £336. You can put this towards a little weekend away or even have a large makeup splurge.
Let me know how you get on with these tips and if you manage to save a little bit extra each month to buy yourself something nice.