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Tips For Dealing With A Low Income When You’re Young

17 February 2016 No Comment

Let’s face it when you’re in your twenties, you’re not going to be making a fortune from your job. Even if you have a good degree, you’ll still be starting off at the bottom and working your way to the top. As an example, a junior reporter will be lucky to make more than seventeen thousand a year working at a newspaper. Or, how about junior doctors who are have threatened to strike due to the state of their pay? That said, this is just the ladder that we all have to climb and there are ways to make it easier. Here’re the best tips we can offer for dealing with your finances when funds are limited.

Borrowing Extra

You might find yourself facing a month or two where money is so tight that you struggle to get by. You’ll be at the very edge of whether or not you can afford to pay your rent and the bills. This is an issue but it’s not one without a solution. You can borrow money in the form of a payday loan. A payday loan is exactly what it sounds like. You borrow money with the objective to pay the money you owe back with your next paycheck. These types of short-term loans often get a bad rep in the media. But now there are regulations that make them fair and easy to pay back. You just have to check the rates and make sure you’re borrowing an amount you’ll be able to pay next month. Short terms loans from red wallet are both easy to obtain and affordable enough to pay back quickly.

Making More

When you’re struggling on a low income job, you need to find ways to make more money in your spare time. Everyone does this in their early twenties and the good news is that there is now more avenues to take than ever. You could set up a blog. By setting up a blog online and getting readers, you can attract advertisers. It’s then possible to charge them for advertising and promoting products on your blog. In no time at all with a good understanding of SEO you can make a small second income. It might even double what you’re already making from a full time job!

Or, you can buy and sell items on eBay. It’s just as easy as it sounds. If you buy collectors items online, you can then sell them on through auction to make a profit. You should expect to make a couple hundred each month by doing this. That’s going to go along way when it comes time to pay your rent and the bills.

Saving Energy

Finally, you should keep a check on how much you’re spending to heat your home and how much electricity you’re using. You would be amazed at how much your bills can grow if you don’t keep a check on them. Simple things like remembering to switch off lights that are not in use will help a lot. Or just unplugging your laptop instead of leaving it charging overnight.

If you take this advice, we think you’ll find getting buy in the early years a lot easier. Work hard and you can look forward to a future where you’ll be able to afford everything you want.

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