Savings and Finance

Things To Know If You’re Low On Dough

Low On Dough

Most households have faced financial difficulties over recent years. As a result of the recession, we’re all a little more protective of our money. And that’s no bad thing. You have more control over your personal finances than you might realize. No matter how much you earn at work, there’s always more you could be doing to make your money go further, whether that involves investing in property or moving your money to a better bank. Here are some things to know if you’re low on dough.


Debt doesn’t vanish.

But it’s also not a universally-bad thing. If you’re low on money then it can certainly be hard to pull yourself out of debt but pooling any excess income towards repayments (above all other luxuries) will reduce your debt before interest climbs; additionally, it’ll improve your credit and make it more likely for you to get loans in the future. Of course, before you reach that point, you have to solve your current monetary problems. When it comes to borrowing money, you simply need to plan ahead. If you can afford to make the repayments on time then you should definitely take a loan to help your immediate situation.

Perhaps low credit is preventing you from getting the loan you need but you could check out sites such as that give you a reasonable loan regardless of your credit score. Again, the important thing is that you only take on debt you can afford to repay. Your credit rating is a mark of how trustworthy you are in a financial sense; the better you are at repaying your debts, the more likely you are to get good loans in the future. Additionally, if you’re low on dough, then clearing your debt is the best way to stop your financial situation from spiraling further down the drain. In order to reclaim control of your money, you need to reduce your expenses to nothing more than necessities and debt repayments.



Cut costs to increase your savings.

You always hear people talking about the importance of savings accounts but you might struggle to save up any money when the entirety of your income goes towards paying the rent and other bills. However, that might just mean that you’re wasting money unnecessarily. There are plenty of ways to cut costs in life and none of them have to involve compromise, believe it or not. Once you start saving more money, you won’t have any excuses not to put it in a savings account, as we’ve discussed before.

For example, reducing your energy bills is a good place to start when cutting costs. If you insulate your walls and double-glaze your windows then you won’t have to use so much energy to warm up your home because the heat will be more effectively trapped. You could hang your clothes to dry rather than wasting energy on a tumble dryer. You could even save money by cycling or walking into town rather than driving. As suggested over at, you need to think of all the aspects of your lifestyle you could change in order to save money and then put those savings into an account for the future.


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