Five things To Consider Giving Up That’ll Boost Your Lifestyle & Budget?
Times are tight for many of us these days, and amidst a cost of living crisis, we’re all finding things we need to give up in order to pay the bills and live as comfortably as we can. Some things are more likely to go than others, while some we daren’t think about whether that be a source of entertainment, others things like the gym. It’s all about understanding what we do and don’t use, what’s cost-effective and what’s best for our health and lifestyle.
So, if you’re struggling with your finances a little and feel like you need to make some sacrifices, where exactly should you be considering?
Alcohol
Of course, we’ll start with the booze. It’s one of the things in life we should probably most give up for our health, but it’s also among the hardest too. Many people try and fail to give up alcohol, often requiring alcohol detox treatment and rehab to do so as figures around problem drinking continue to rise.
However, the benefits of doing so are significant. Firstly, it’ll boost your health, for all manner of reasons, but also your budget as, let’s face it, alcohol isn’t cheap anymore. It can be a truly transformational lifestyle change that will shape your future for the better.
Subscription Overload
We really do live in a subscription world nowadays and across the UK the average Brit is spending almost £500 per year on subscription services. That’s a lot of money and can really drain a bank account each month. A good idea is to take stock of your services and trim the fat. We all use certain ones more than others. In fact, there are probably some subscriptions we haven’t used for months.
By removing some of these, you can generate more disposable income to use on the things you love.
Impulse Buys
Impulse buying can be a serious problem for some, and making non-essential purchases can cause issues on the budget. Treating ourselves, however, is important but doing it in a more logical manner may be a better way to go about things.
Give yourself 24 hours to consider if you really need or want the item and if you still want or need it after that period, you can decide whether to buy it, or even shop around online to find the best price.
Convenience Foods
The average Brit spends over £600 per year on takeaway food, equating to more than £50 per month. Not only are they expensive, they’re also less nutritious than home cooking, meaning giving them up, or reducing the number you have can save money and improve your health.
What’s more, you’re in control of the ingredients and costings of meals, and you can even develop your cooking skills in the process.
Unused Memberships/Gym Subscriptions
Finally, a gym subscription can be really beneficial on your budget and health. It’s a good way to stay fit and healthy, while it can also be a good alternative to the likes of going to the pub or heading out for meals.
However, if you aren’t using your membership or going enough to warrant the membership fee, it could be worth giving up. Think about what you like about exercising at the gym and consider whether there are alternatives. For example, it may be more cost effective to run in the streets than at the gym, or if you only use a rowing machine, for example, over the space of a year is it perhaps more cost-efficient to invest in a rowing machine rather than paying the monthly membership to use one?
By reviewing your finances you can make changes in the right areas, you can free up income, improve your health and do what you can to enjoy a more comfortable lifestyle.
