This post is by Dani Butlerson of Payday Express.
Ah, the elusive payday, when spending and expenses have taken their toll and month end just can’t come quick enough!
It’s Murphy’s law that you seem to have a run of bad luck with expenses that you hadn’t banked on at the end of a month in which you soon realize you might have spent a bit too much. Maybe a few too many nights out, the forgotten credit payment, or a holiday that seemed mandatory at the time left you with not quite enough money to cover that broken boiler as winter sets in.
The end of the month can often be the most stressful as it always seems that unforeseen bills or emergency expenses rear their ugly heads then, and you have to start relying on the clearance section of the supermarket!
Image copyright Jakub Krechowicz—Fotolia.com
So what can you do to calm your end-of-month worries? Well, while this advice might not work for everyone, here are the top five tips with which I’ve managed to pinch a few pennies to tide me over til payday.
1. Switch to public transport, take a walk or cycle to work
Heck, why not? It’s environmentally-friendly, a darn sight cheaper and should be more relaxing than tackling rush hour traffic.
2. Cook your own meals
If you’re anything like me, you’re a restaurant fiend. I don’t even know how it happened—I even had a brief stint as a chef! And still, when I get in from work, I can’t resist meeting up with a friend in a fancy restaurant or ordering some Chinese takeaway. Thing is, if you actually weigh up how much you spend on this (generally unhealthy) food, it’s amazing the savings you’ll make by cooking your own meals.
3. Sell some of your stuff
I admit it: I’m a hoarder. I have stacks of DVDs, useless junk, and old sporting equipment that is just gathering dust. I recently opened an eBay shop and started pawning my wares, and the extra windfall definitely helps.
I recommend services such as Envirofone or Mazuma for your old mobiles; play.com for CDs, DVDs and games; and, if you’re a particularly creative sort, etsy.com fro craft items.
4. Take out a payday loan
Easy to apply for online, a payday loan can provide the extra bit of help when you need some temporary short-term credit to see you through to payday. Just ensure you only borrow what you know you can comfortably pay back with interest on your payday, and keep everything organized. Speaking of which…
5. Plan those weeks ahead
Now, this is one I’ve struggled with somewhat, despite it being the most important! I hate to plan ahead and would much rather do things spontaneously, but with finances, this is just too big a risk to take.
Since I created a list of expenditures and allowed for a monthly budget, I’ve not only reduced my stress levels, but also ensured that I generally have something left over at the end of a month in case one of life’s little emergency expenses suddenly crops up.
Now, it’s my payday at the end of next week and I’m actually doing alright! Okay, I’m not going to be rushing out and buying a 42” widescreen TV (although if anyone would like to donate one to me, please feel free to get in touch!), but I think I’ve started to understand fiscal responsibility that little bit more.
Just remember, money is rarely a constant and you can’t predict the future—stay sensible, plan ahead, and look after your finances, because you never know when you’re really going to need them.
Dani Butlerson is a writer for the web team at Payday Express, short term payday loans providers, offering a quick, easy, and friendly service for customers.
About Guest Contributor
To a large extent, the strategy to beat the month end blues is to start early in the month. Most people have a tendency to spend more at the start of the month and then scrimp and scrounge the last week. If the scrimping and scrounging can be done at the start of the month, it becomes easier to see the month through without any stress.
I spilled my coffee when I read this.
Are you serious? You’re recommending a payday loan to bridge the timeframe between pay periods? I understand the author is associated with that industry – but come on. What’s next – recommending spreading paying your credit card bill over 90 days to improve cash flow?
There’s only one solution for the “problem” addressed in this post – and that’s to live within your means. If you don’t make enough money, find ways to increase it. Take a second job, become a blogger and rake in a few hundred bucks in additional income. If you spend too much, cut back on your expenses. Find a smaller place to live. Cut your cable bill in half, down-grade your phone plan. Do what you have to do – but please, don’t start borrowing money to cover your consumer spending. That’s a recipe for financial suicide and I’m amazed I’m reading this post at Feelgooder.com.
Unbelievably bad advice – it’s the stuff that got us in the financial mess we’re in today.
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The car breaks down, a child becomes ill, something in the house
needs repair, and suddenly you owe more than you have sitting in the bank.
Pay – Day Panda is not the pay day loan company itself, instead, it
acts as a go between between you and the lending companies.
Budget, know what you have to pay for and budget the money so it gets where
it needs to and you can pay it back as quickly as possible.
They are the Community Financial Services Association of America,
and for 14 years they have been helping consumers and making sure lenders follow the law.
Your general demographic information given on the site only gets you to the
“pre-approval” stage. 00 due to possible rounding of numbers by
the lender.
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Thanks for sharing this advice on surviving through payday. I agree that it is important to know when you are at your limit and need to get a loan. The nice thing about a payday loan is that it is super convenient for you when you really need the money. Plus, it means you don’t have to sell your stuff or cook your own meals!
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