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Free up funds

Sometimes we may not earn enough money to both cover our expenses and put some away for our savings. Even if we live within our means, it can be a challenge to start saving for a healthier financial future. But you can always consider the following creative ideas to free up some funds.

Manage your expenses

Identify ways to manage your expenses. You may find this much easier if you talk about it with a partner or loved one. If friends, family and those close to you are aware of the changes you are trying to make, there's a better chance that you'll see them through. Could you cut down how often you go out each month? Or curb 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 meal planning better or shopping at a provision store? Have you compared your car or home insurance rates lately to see if you could be paying less?

Spending your money wisely

If you can be flexible with your daily or weekly schedule, you may find even more ways to free up your funds. Could you go to the cinema at a less popular time, when tickets are cheaper? Could you schedule your meetings to a different time so you can travel during off-peak hours? How about making your lunch instead of buying it? Could you work remotely or from home, either some or all of the time?

Make the most of your used goods

Selling items that you don't need or no longer use, can be a very effective way to free up some funds (and reduce clutter). You can sell these preloved items through specialist online retailers such as Carousell. There are buyers out there for phones, baby products and gaming consoles. And there's a strong market for good quality clothes that you no longer wear.

Financial wellbeing

How to be in control of what you spend on and what you save
Find out about what being financially fit means
Protect the things that matter the most to you
How good habits can help you achieve financial wellbeing