Four Things To Do If Your Salary Isn’t Making It Through The Month

Everyone loves payday. Finally, you get the chance to see the reward for all of your efforts over the last month. You know you’ve got to set aside money for the essentials, but you’re also planning to pamper yourself and enjoy the fruits of your labors. As soon as payday is over, you immediately begin to look forward to the next one.

As enjoyable as the day itself is, the weeks that follow can be less exciting. It seems everyone has experienced that sinking feeling when you look at your bank balance and realize it’s not going to make it. If this happens on an occasional basis – such as an large unexpected expense – then there’s little cause for concern. If, however, it sounds eerily familiar on a monthly basis, then it might be time for action.

Ask for a raise

 If you don’t ask, you won’t get. If the idea of asking for more money from your employer makes you cringe, you could be losing out on something that someone more assertive gets. You don’t have to phrase it as a demand. Explain you have some extra expenses, that you think that your work is valuable. Have a figure in mind for what increase you would like, and pitch for 2-3% above that. Then you’ve got some haggling room which allows you to come down, looking more reasonable in the process.

Cut back

You don’t want to hear it; no one ever wants to hear it. Sometimes, however, it needs to be said. If you’re spending more than you earn on a consistent basis, then it might be time to apply the brakes to your spending. Try one month of enforced frugality. You don’t spend on anything but essentials such as food, bills and travel costs – and when we say food, we don’t mean expensive dinners out. By scaling back entirely, you will be able to identify the areas that you’re going too far on, and make changes accordingly.

Use your commute to make money

You spend a few hours a week sitting on public transport. It’s not a good time to work due to crowding and overheating, so it becomes lost time. You can claim some of that time back by investing in a cheap mobile data plan and using survey sites while on the way to work. These sites want you to give your opinion, and you will be rewarded for it. You can redeem for cash or vouchers- all adding up in a time you usually stare out of the window and dream of your next holiday. You can find reputable sites by seeking user feedback like Ipsos i-Say Review or comparison sites for the best rewards schemes.

Bust the essentials

If in step two you tried cutting back your non-essentials and still found yourself struggling, take a long hard look at your essentials. Can you realistically afford your rent? Do you need all the bells and whistles on your smartphone plan? Have you saved money by switching electricity company recently? Go through your finances with a small tooth comb; you should be able to find some extra savings somewhere.

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