Even if we are living within our means, finding the capacity to start saving for a healthier financial future can be a challenge.
You should also consider the following creative ideas to free up some funds:
Identify ways to manage your expenses or costs. You will find this a lot easier if you talk about it with a partner or loved ones. If your friends, family and those close to you are aware of the changes that you are trying to make, there's a much better chance that you will see them through. Could you cut the number of times you go out each month? How about your impulse buying and online shopping? How much could you save each month by cutting back on a few luxuries? What are some fun activities or hobbies you could do for free instead?
If these changes don't make enough of a difference, take a look at your other expenses. Could you reduce your food bill by better meal planning or shopping at a discount supermarket? Have you compared car or home insurance rates recently to see if you could be paying less?
If you can be flexible with your daily or weekly schedule, then you can often find plenty of ways to free up funds. Could you schedule your meetings to a little later in the day, so that you can travel off-peak? How about making your lunch, rather than buying it at work? Could you work remotely, or from home, either some or all of the time?
Selling items can be a very effective way to free up funds. There are buyers out there looking for second hand goods such as cars, electronics, etc. If you have something you no longer need or use, try selling it to increase your funds.