Practical Finance Tips for the Average Person

Most people would love to save a bit of extra cash. We’d love to see an extra digit or two on our bank balance, we’d love to be able to pay our rent and utility bills without cringing, and we’d love to see our pennies stretched further. However, the majority of online articles that seek to help us with our finance usually tackle things like investments, businesses and other similar things that most average people wouldn’t even touch.

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So if you’re the average homeowner (or tenant) that wants to save a bit of extra money, then here are a couple of practical tips to help you.

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Save Money

It’s easy to say “save money” and expect someone to do so, but how can we actually save money and what’s the purpose of it? Let’s face it, most of us aren’t going to save up thousands to start up a business and if we buy something expensive like a computer or a car, then we’ll usually take out a financing option to spread the costs and thus, we don’t need to really save money.

However, there are times when you should save money and there are many different reasons to do so. For starters, an emergency fund is a vital component to anyone’s financial situation. Everyone is hit with sudden costs now and then, such as needing to pay medical bills, repair a car or even replace a kitchen appliance. And secondly, saving money can be a way to help you adopt more frugal practices, like spending less on luxuries and more on necessities.


Shop for Deals

Not just supermarket deals or electronics deals, but utility bills and credit card deals as well. Most of us don’t realise the importance of shopping around for better deals unless it’s an item we buy from the store or on the internet. You could save a lot of money by simply looking at a website to compare credit cards and picking a bank that suits your needs. Alternatively, you could look at comparison websites to see how much money you’d save by changing your gas or electricity provider. Even if you think you’re paying a low price for your utilities, it doesn’t hurt to spend a few minutes looking at the alternatives.



If you find yourself living from paycheck to paycheck and struggling to find areas to save money, then budgeting is your solution. For starters, write down how much money you get after taxes. Then, calculate all your outgoing money and split them into necessary expenses (bills, utilities, travel) and luxury ones (video game, Netflix, night out).

If you find that you’re spending far too much money on luxury expenses, then simply cut them down and make some compromises. Alternatively, look for ways to reduce your necessary expenses. Like mentioned before, look for better deals on your utility bills. You could also save money by looking at something like your grocery shopping and switching out luxury options for store-brand ones. Understanding where your money comes from and where it goes is the key to smart finance management.

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Prime Aque is the back-end guy of Self-Help. He is a blogger and WordPress front-end designer. Importantly, he is a husband and a father of three wonderful kids. His firstborn are twin girls. He loves writing and sharing.