Living (and Staying Well) on a Tight Budget
How are you? I wanted to ask because things are pretty challenging for a lot of people right now.
Household bills are soaring, food prices are going through the roof, the cost of living seems to be rising every week – but wages (and our needs) are staying the same.
Actually, that’s not entirely accurate. Our needs are changing.
When times are tough and the world around us weighs heavy, we need more. More home comforts; more hope; more support; more of the things that bring us joy. But how do you balance all of that with living on a budget?
I won’t dress it up and say you don’t need money to feel good; money helps. It gives us a sense of security and comfort, and one less thing to worry about. But there is actually a pretty beautiful range of things we can all do to proactively improve our wellbeing; things that don’t rely on a hefty bank balance.
Wellbeing, at its absolute core, is beautiful in its simplicity. And that’s something all of us can embrace. But because having enough money to live is also pretty cool (who’d have thought it), I’m sharing a healthy balance of money-saving tips and no (or low) cost options for giving yourself a boost.
How to Make Your Money Go Further
A lack of financial freedom can really take its toll on your mental health. If you’re always worrying about money, you’re going to find it hard to feel in control in other areas of your life; which is why it’s so important to take control in small ways, wherever you can.
If you’re not sure where to start, begin with the steps below:
Save: Putting money into savings can feel really uncomfortable when finances are tight, but it’s the best way to give yourself future peace of mind. When you get paid, put away 10-20% before spending anything.
Compare: Life is busy, which makes us complacent when it comes to doing things we’ve always done, and using companies we’ve always used. But if you shop around on things like car insurance, home insurance, broadband and other bills, you could save a fair amount.
Switch: A lot of banks offer a financial incentive for switching to one of their accounts, so move your money as often as you’re able. Money Supermarket has a comparison tool to help you out. It’s also worth signing up to their free newsletter!
Shop down: It’s always a temptation to go with the most recognisable brand, or the supermarket’s ‘finest’ version, on your weekly food shop – but own-brand is not only cheaper, most people can’t actually tell the difference in blind taste tests!
Meal plan: We waste so much food in this country, and it costs us a fortune. But we waste a lot less when we meal plan and only buy what we need for those specific meals. This way of shopping also helps you to avoid getting drawn into offers that can end up costing you more.
Get rewarded: From restaurants to coffee shops to supermarkets to beauty salons, most places offer some form of rewards incentive for staying loyal. So if you tend to frequent the same places, get signed up!
How to Look After Your Wellbeing on a Budget
Yoga classes, weighted blankets, aromatherapy diffusers, scented candles, relaxation retreats, spa breaks, massages, reflexology, acupuncture, reiki sessions…these things are all fabulous for your wellbeing – but looking after your mental health doesn’t have to involve expensive activities or pricy products.
Some of the most effective wellbeing resources are completely free, and entirely effective:
Breathe: Breathing exercises are the most basic, and effective, form of self-care.
Walk: The wellbeing benefits of being outdoors are unparalleled.
Meditate: Learning to live in the present is the best gift you’ll ever give yourself.
Connect: Reaching out to friends and family can make a tough time bearable.
Indulge: Take a bubble bath, read a good book, get cosy under a blanket.
Exercise: Whether you walk the dog or do body-weight exercises at home, you don’t need fancy equipment or a gym membership to look after your body.
Getting Support with Your Money and Your Mind
I’ve got my mind on my money and my money on my mind…
That’s because the two are inextricably linked. In fact, according to independent charity Money and Mental Health, people with mental health problems are three and a half times more likely to be in problem debt than someone who enjoys good mental health.
So whether you need support for your finances, or support with your mental health, you’ll find some useful links below:
Mind (money and mental health advice)
You can also download the FormScore app and encourage friends and family to do the same – giving you a network of trusted people who can see when you’re struggling.