Financial questions to ask before studying abroad

Studying abroad has increased in popularity rapidly over recent years. Though it can be a wonderful experience and an important part of your university life it is not an essential element to most degrees. It is important to consider several financial factors when determining if going on an optional year abroad is for you. It is important to assess not only if you can afford to study abroad but can you afford to go where you want. You may need consider alternative destinations as a compromise on the financial impact of a year abroad. Also don't forget studying abroad is not the only way to spend a year in a different country a year in industry (placement year) doesn't have to occur in your home country and could be the perfect opportunity to combine valuble work experience and international travel.

How much will the course cost? 
- will you be paying the tuition fees prices for your current school whilst abroad or increased fees as an international student?
- How much will it add to the cost of your degree tuition?

How much value will it add to your degree?
- This means asking why are you wanting to do a year abroad. If its just because you just want to visit  a country or your friend is applying too then perhaps an extended vacation would be better (and more cost efficient). Whereas, if you are doing a language degree then studying abroad is highly beneficial to the development of the skills you are using in your degree.
- Think about the quality of the univeristy you would be studying at does it rank as well or better than your current university.

What is the cost of living in that country?
- Depending on where you go the cost of living could be a lot more or a lot less than you are used too.
- It is also worth looking at how currency exchange rates have been over the past months are you going to get more or less for your money due to the exchange rate.


Do they offer scholarships, grants and work programs?
- Programs such as the erasmus scheme offer up to €300 a month grant for studying abroad.
- Will scholarships you have from your current university still apply on your year abroad and after?
- Does the university you are attending abroad offer any scholarships to exchange students.
- Would you be able to work whilst studying abroad. This will depend on visa restrictions and varies from country to country.

How much will additional costs be?
- Flights can be pricy if it is long haul. How often will you expect to visit home over the year?
- Cost of visas, passports and immunisations should also not be forgotten.
- Study abroad programs also offer lots of excursions and trips for students to participate in.

Did you go on a year abroad? What was your experience?

Save money cancelling unwanted subscriptions.

We've all done it signed up for an online service, movie streaming or gym membership. You may have even signed up for a free 'trial' period on the basis that you would cancel before you have to pay.  Yet 4 in 10 Brits remain paying for services they simply don't use.  At the start of the year we cancelled a movie pass subscription pass C had (that we really weren't using) and saved almost £200 a year. 

Likely culprits

These are the services which are the greatest pitfalls and have the most underused subscriptions. 

• Gym memberships
• Magazine Subscriptions
• Credit Reports
• TV streaming
• Music streaming
• Donations
• Weight-loss
• Subscription boxes
• Delivery services
• 'deals' subscriptions 
• Insurance 

However, you don't have to let subscriptions be a drain on your bank account. Follow these simple steps to help re-organise your finances and clear out the clutter. 

1. Know your Direct Debits and Standing Orders.

This is relatively simple to find if you do online banking (there should be a tab for you to see what direct debits and standing orders you currently have set up). If you still have paper statements then the task is a bit more time consuming but you will see on the statement that the type of payment is show and this will denote if its a DD or SO. Make a note of what it is for, how much it is and how often.

2. Asses your bank statements.

There may also be regular payments coming out of your account that are no by DD or SO but are by authorised card payment (or paypal). It is useful to look to the last 12 months of statements as there may be amounts paid less frequently (i.e. annually). Basically keen an eye out for regular payments of the same amount the the same company. Again make a note of what it is for, how much payments are and how often they occur. 

3. Determine which subscriptions you want to cancel.

Not all of the subscriptions you will want to cancel, but now you have a list of everything so you can start to assess the situation. Think about how many times you have used the service since you last paid. Is it a necessity? It is still useful?  Is it value for money (it may be worth thinking about cost per use)? Also it is good to consider how much you could save by cancelling a subscription.  Use the Money Advice Service quick cash calculator to find our how much you could save. 

4. Cancel what you don't need

So you know which subscriptions you want to cancel. You may wish to write down the subscription renewal date in your diary if you want to wait until just before renewal to cancel. However, this leaves you susceptible to forgetting and also sometimes there are notice periods as well. If it is being paid by Direct Debit or Standing Order then simply phone up or write to your bank to cancel that. However, if payment is being directly made from your card then you must tell the company taking the payments, preferably in writing, and give a copy of this to your bank or card issuer.

How much have you saved money by cancelling subscriptions?

Healthy budget friendly meal plan

It can be a challenge to find recipes that are both delicious, healthy, and budget friendly. Let us take some of the legwork out of the process with our favourite meal plan that meets all of those needs. 

This week we are sharing some of our all time favourite recipes that are both healthy and great for on a budget. The meal plan includes 7 dinners the cost of which works out to be approx £25 (though this will vary store to store and sending on seasonal offers). 

• The dinners all take 30 minutes or less to cook so you don't have to worry about slaving away in the kitchen all day. 
• The recipes are designed for two portions (great for busy couples) but for families multiply up the quantities depending on your needs. 
• Meats and fish can be substituted for alternatives that you may prefer or find are better value for money and don't forget buying meat/fish in bulk and freezing is a great way to save on cost per portion. 
• It has a self contained shopping list of everything you need for the week plus all the recipes. So you only need to print of one document to take with you to the store. 

Our favourite tools for meal planning

We love to keep all the meal plans we create in one easy to use binder. 
Plus, by keeping the meal plans in sheet protecters means we can re-use them time and time again and saves us printing out several copies. *Affiliate link: see disclosure below*

  

Click on the images of the meal plan below to be taken to the Google Drive where a PDF of the plan is available for you to download and print off. We hope you enjoy them as much as we do. 

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

Break the habit of overspending

There will be times where Chris and I are doing really well on our budget.  Then suddenly a bunch of stuff mounts up and we have overspent in loads of areas. Birthdays we forgot about, feeling to tired to cook so buying take-out. We've all been there before, but we have found ways that have really helped us to avoid overspending on our monthly budget.
Overspending is problematic in several ways. It can become a vicious cycle and addictive and lead to a downwards spiral towards a life that is filled with debt. It also has an effect psychologically it makes you feel frustrated and disappointed in your inability to stick to a budget. It brings an initial high (just after the purchase) followed by a low (when the reality of the situation has sunk in). This creates a cycle where the only way to get out of the low is to make another purchase.

Give yourself splurge money (pocket money).
If you make your budget too unforgiving especially by forgetting to factor in a little bit of splurge money you are more likely to go and blow the budget in other categories. Having a set amount to spend results in guilt free shopping where you are more likely to spend less.

Keep it realistic.
If you make your budget too restrictive too quickly you will find it really difficult to stick to the anounts you have set. Gradually decrease the amount you spend in different areas do that you feel less restricted by your budget.

Go shopping with a list.
Before you head out make a list of what you intend to buy. Evidence shows going out with a list means you are less likely to become enticed by special 'offers' or purchase unnecessary extras. This principles applies to all kind of shopping an not just groceries, and is even applicable when shopping online as it is about becoming focused and intentional in your purchases.

Know that the true deal is in not spending at all
Avoid being lured into special deals and being enticed to make purchases because you have a coupon. This is what the marketing companies are bargaining on, it is in their interests that you increase the amount you spend because you perceive that you are getting 'good value'. Use coupons wisely and not as a carte blanche to buy what you want.

Accountability buddy
Having a friend with you who will you hold you to account and make you stop and think before you make a purchase can be a huge help. This could be a friend, partner/spouse or parent. Whoever it is make your goal know and they can help you on the road to achieving. If you haven't yet fully accepted the nature of you overspending habit then having a friend can help you understand where you are overspending and help you see the situation through new eyes.

Sleep on it
So you see something amazing online or inshore and your just hankering to buy it. But do you really need it, does it really fit into your budget. Take a step back from the situation, go home and sleep on the idea for a few nights and then reassess the situation. Do you still think you need/want to buy it, does it really work out in your budget try to reflect on the potential purchase rather than acting on 'in the moment emotions'. This allows you to take a more balanced reasoning approach towards your purchase making.

Stay out of the store
Do you have a store that every time you go in you buy something a shop where you 'need' everything inside. Avoid aimlessly shopping in these kinds of store and often the best way to do this is to avoid even going in the shop. Don't make shopping your hobby.

How do you overcome the temptations to overspend?

If you are new to my blog, I am all about finding ways for students and millennials to make and save more money. Here are some of my favorite sites and products that may help you out:

• Start a blog. Blogging is my side-hustle just a few years ago I never thought it would be possible. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

Top 50 Personal Finance Resources

There is a wealth of resources available to help with budgeting and personal finance. But sometimes it can feel overwhelming, it can be hard to know where to start. We are sharing some of the best resources out there so you can find the best budgeting and personal finance tools. 

This post is divided into four categories

- Top 5 apps and software

- Top 10 blogs and websites

- Top 10 Youtube channels

- Top 25 Articles

Top 5 apps/ software

• EveryDollar- Both online and on app this software links to the Dave Ramsey system of budgeting and allows you to create a system based on the zero-sum method.
• Mint- Is a money management software that allows you to effortlessly cream a budget. It also include a credit score function. 
• PersonalCapital- This is both software and a website that allows you to easily manage your finances in one place (and for free). It allows you to see your net worth, manage your cash flow,  spot any sneaky fees and allow you to analysis your progress towards meeting your investment goals amongst other tools. Its a great all around for keeping an eye on your financial portfolio. 
• Grocery smarts-  Takes your local grocery store ad and matches them up with coupons to ensure you find the best deals.
• Tiller - Automated budgeting software linked to your bank accounts that feeds in google sheets. Perfect for those who love using spreadsheets for budgeting. 

Top 10 websites/ blogs

• College investor- Amazing advice for millennials to help them in all areas of their personal finance from eradicating debt to building wealth. 
• Disease Called Debt  A UK personal finance blog with a wealth of knowledge on tackling debt. There are also brilliant resources on side-hustling and boosting your income.
• Six figures under A family sharing their journey of paying off law school debt. Great tips on debt repayment and living a frugal lifestyle
• moneysaving mom Great tips on integrating frugality into family life, also regular poster of great deals and offers on the web.
• From aldi to harrods Another UK blog about directing your finances so you lead the life you want.
• 20 something finance Sharing inspirational journey to being able to save over 85% of income. Great tips on building wealth and how to begin investing.
• Living well spending less Tips on integrating smart money saving decisions into family life. Covers not just finance, but life, home and food. 
• Get rich slowly Articles on everything taxes to investing. More focused on personal finance and less on a frugal lifestyle.
• Money Propeller Giving guidance towards achieving your financial goals. Encompass both personal finance and frugal lifestyle topics.
• 5 Dollar Dinners a great site for finding the perfect recipe for when you are on a budget. There are also so brilliant meal plans they have created. 

Top 10 Youtube channels

• His and Her money-He's the spender and she's the saver and covers topics such as managing money, marriage, and everything In between!. 
• Gazelleintents-Jackie and Chris are sharing their debt-free journey. Great inspirational videos and regular meals plan/ grocery guides.
• Rachel Cruz- Daughter of Dave Ramsey Rachel's videos give short but hard hitting financial advice. 
• DebtIsDum- Family of five who are now debt free sharing their debt kicking tips. Plus they are about to start living in a tiny house. 
• Do it on a Dime-Great tips on leading beautiful, organized lifestyle on a frugal budget. She also has a great blog over at http://www.doitonadimeblog.com/
• Frugal debt Free life-Showing you that good living shouldn't cost a fortune. Providing easy, delicious and healthy frugal recipes, money saving tips, quick fixes, tips to going on a family adventure, all for a bargain. Being frugal can be fun, it just takes a little creativity.
• Budget Girl-A twenty-something young professional who is sick of debt and working her way to wealth and freedom.
• The Former Mrs Jones-Showing you how a young family continues to live debt free while working on Baby Step 3B.
• Live Like No One Else- Documenting their family's debt free journey with a greater vloging emphasis 
• Living life on a Budget (Jessica Ashley)- Working through financial peace in their young family. They became debt free in 2014 and share a lot of great recipes

Top 25 Articles

• 75 ways to make extra money Budget feeling tight turn to these great extra income ideas to add more money to your budget
• 17 Ways to Get Wedding Budget under control today- With the average wedding costing £20,000+ its so important to control the cost of a wedding not let it control you. This post includes 17 detailed tips on how to manage that wedding budget. 
• Saving on Vacations- 21 ideas on having amazing vacation on a smaller budget.
• Budget with the 50/30/20 rule- A great guide to the 50/30/20 budgeting method
• 50 unconventional money saving tips 50 great tips and ways to save money you probably haven't though of.
• Proof you can live on 50% of your income Evidencing how it is truly possible to live on 50% of your income (regardless of income)
• Building a budget with every dollar How implementing one of our top-rated apps/software can help give simplicity to your finances.
• Best Mortgage Lenders of 2016 A clear and consider guide to everything you need to know about getting a mortgage in the USA in 2016. Includes honest and useful reviews of lenders and well as key tips for the mortgage process. 
• Budget using the zero sum method Informative guide to using the zero sum budget method (the system advocated by Dave Ramsey)
• How to get motivated to pay off debt. Motivational post to help you on your debt paying journey.
• How to cut debt in 5 simple steps When debt feels overwhelming taking simple steps can make the process manageable.
• The student loan epidemic Explains the true impact student loans are having on society 
• Is couponing a waste of money Gives food for though about the whole concept of couponing and whether it is good for you and your budget. 
• Working out on a budget- Great tips for incorporating fitness into your life on a budget.
• Things to do instead of spending money
• Reduce your electric bill- 5 great tips to help keep your electric bill low by making simple changes 
• What are stocks and how to value them When you just start investing it can be hard to understand stocks and what they mean this is a great guide for starting out.
• 15 things frugal people freeze- Teaching you the value of fully utilising your freezer
• 12 financial moves to make this year  A 12 step plan to financial improvement over the year.
• 5 ways to save when you've already cut back When you are feeling frustrated because you think you have cut back all you can. Try implementing these ideas for more savings.
• Marriage v Finances- Simple money strategies for your marriage
• Graduating from college with $37,00 in savings- Learn how college doesn't have to equate to debt inspiration success post
• 12 ways to make money whilst shopping- Shopping doesn't always have to be a dead-loss, use these techniques to make money whilst shopping.
• 100 scholarships to help you through college- Great comprehensive list for some brilliant scholarships that are worth of applying for
• 11 financial habits you need to start today- Are you trying to gain control of your finances. Odd are you are stuck in a rut of bad habits, look to these great habits to strive towards.

These are our favourite resources out there and what we turn to on a regular basis. We hope they help you, so what stopping you go explore them and get saving.

Can you spot a supermarket 'bargain'

You go to the store with a list of what you are going to get, yet every week you come out with more than you expected to buy. Don't fret you are not alone.
The Money Advice Service (MAS) found that three-quarters (76%) of people regularly spend more than they meant to in the supermarket due to special offers and bogof - or buy one get one free - multi-buy deals.

Sale prices make it harder for people to assess if they are truly getting a better price. Seeing a special offer makes us impulse buy, we think its a great option and worry about missing out. This means on average people spend £11.14 more per shop MAS calculated that this could amount to an overspending of £1274 a year. 

Though these tactics my supermarkets are currently under scrutiny by consumer watchdogs. In particular multi-buy offers where there is no saving (or even increased cost). 

Tips for avoiding overspending at the supermarket

• Avoid shopping on an empty stomach. 59% said that shopping whilst hungry meant that they spent more and often on sweet treats and snacks. 
• Avoid shopping when you  are tired, bored or with children. You are less likely to focus on buying what is on your list and easily become distracted by the impact of offers. 
• Create a meal plan and an associated shopping list. Working off a shopping list is the most effective way to avoid overspending at the store. Using a list means you are 3x less likely to overspend.
• When looking at offers relating to items on your list, think carefully about whether the offer is better value. If its a bulk buy (so the price per KG/L is less) consider whether you will use up all of it or will some of the product go to waste. Take the time to consider if an offer is worth it, most consumers spend 0.4s deciding what to buy at the shelves. Taking a little more time to look at the price per weight (this is usually on the price ticket in smaller print) will help you assess whether it is a better value option. But if in doubt buy the product with the lowest price. 

The Money Advice Service used this quiz to see how good people are at picking out the best deal. Give at go and see how bargain savvy you are.

Can you spot the best deal?

The Money Advice Service (MAS) asked more than 2,000 people to select the best-value options when presented with four sets off offers.

Just 2% correctly identified the best-value deals in all four cases.

See how you get on….

Of the following options for milk, which represents the best deal?

1. Six pints of milk for £1.80
2. Four pints of milk for £1.40
3. Two four-pint cartons of milk on offer for £2
4. Two six-pint cartons of milk on offer for £3.50

Of the following options for buying 500g of lemons, which represents the best deal?

1. One 500g pack of lemons costing £1.20
2. 500g of loose lemons at £2.50 per kilo
3. Buy two get the third free deal on 200g packs of lemons costing 70p each
4. Buy one get one half-price deal on 250g packs of lemons costing 70p each

Of the following options for buying tomato ketchup, which represents the best deal?

1. One 460g bottle on offer at £1.50
2. One 910g bottle costing £2.49
3. Buy one get one half-price deal on 700g bottles costing £2.29 each
4. One 1.35kg bottle costing £3.50

Of the following options for buying eggs, which represents the best deal?

1. Six medium eggs for £1.10
2. Ten medium eggs on offer for £1.50
3. Fifteen medium eggs for £2.10
4. Two packs of six medium eggs on offer for £2.00
5. Buy one get one free offer on packs of 10 medium eggs priced at £2.20

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The answers…

Milk – number 3

Lemons – number 4

Tomato Ketchup – number 3

Eggs – number 5

How did you do in the quiz?

MAS is a free and impartial government money advice service  who have conducted the research which informs this article. We thank them for the important work they continue to do. 

Enjoy valentines on a budget

Valentine's day has become as commercialised as every other holiday. But can money truly buy you love? Of course not, and showing that special someone your feelings for them shouldn't break the bank. Here are some of our tips for keeping the budget in check whilst enjoying a special valentines day. 

Treat yourself to a meal at home. Dining in doesn't have to be boring. Look for a special treat recipe you can cook together. Or assign each other to do a set course for the meal. We love using Great British Chefs for our at home dinner dates as they have high quality restaurant style dishes that you can cook from the comfort of your own home (and you don't have to be a Michelin star chef to cook them). Dress up the dining room, get the table cloths and candles out and put on a romantic CD (even better make a playlist together).

Handmade card- There are so many great DIY tutorials on Pinterest for homemade cards. There are so many different options and designs there is one out there for all styles and crafting ability.  Check out these fab DIY scented valentines day cards for a brilliant option by EatSleepBe.

Hand made bouquet. There are several ways to do this. If your feeling super crafty try making a paper bouquet see this great tutorial by 100 Layer Cake. If you are wanting something more traditional consider picking up flowers from your local garden centre or supermarket and turning them into a stunning bouquet.

Spa day at home is a great way to bring some papering into your lives. You could get bath bombs, face masks or nose peels, cucumbers and mimosas (or shloer for a alcohol-free version). Plus if you have any essential oils and candles be sure to get those out.  Check out this brilliant Spa Date night kit by Dating Divas . I love the idea of earning Spa vouchers and think the whole ensemble is really cute. 

So you've decided you don't want to have a night in here are a few options whilst not breaking the bank.

Skip dinner and just go out for dessert. Got on a trip to a ice-cream parlour or pick a restaurant rebound for its desserts and get the opportunity to sample desserts you wouldn't normally try (especially if you usually don't go for dessert when eating out). 

Use voucher sites to snag a deal. Sites such as Groupon are great for getting vouchers for things such as spa days and dinners out. We also found these great coupons for free Lindt chocolate boxes which make a great gift option.

What have you got planned for valentines this year? How are you balancing this holiday with your budget?

How to earn £100s in free gift cards

Ever wished you could earn gift vouchers for doing activities you do on a daily basis. Well there is a site out there that allows you to do just that. Swagbacks allows you earn money from browsing the web and doing your online shopping as well as in many other ways.

Through collecting Swagbucks (SB) you can exchange them for gift vouchers from hundreds of different stores or paypal cash. We love using our SB for our amazon purchases but there are so many options. You could even use it as a way to save for birthdays, christmas and vacations. 

How to earn?

There are several different way to earn with Swagbucks some more passive than others. 

Search and Earn - Install the search bar and use it just as you would use bing or google. As you search the internet you'll accumulate SB. This is the most passive way to earn SB as you are doing a task you would already normally do. You are randomly awarded SB once or twice a day of approx 5-10 SB.

Daily polls - Complete a quick (less than 1 minute) daily poll each day to earn 1 SB

Surveys- These are exactly how they sound, simple surveys to be completed. Depending on the length of survey they could earn you from around 25-200 SB a time. There are often surveys for 60SB that take less than 5 minutes to complete.   

Swagcodes- Can often been found on the FB page they provide bonus points they have random values which change day to do. 

Shopping online- Swagbucks offers a cashback-esque option which buy clicking through their site the vendors site you receive SB based on the value of your purchase. These amount vary depending on the vendor and often there will be promotions offering extra SB so keep an eye out. But remember don't go making purchases just for the SB its never cost efficient. 

Discover- Get SB for exploring special offers. 

Coupons (though this feature is not available in the UK). Be sure to check this area if your a big coupon fan. Every coupon you print is worth 10 SB

Playing games and watching videos- These are perhaps the least lucrative and most time consuming options for gaining SB and probably the least worthwhile. But the TV can be great for background watching whilst doing other things such as chores. We don't actively use either for earning SB.

Top Tip 

Download the Swagbucks Toolbar and never miss a SB deal again. It doubles as a search engine bar and a reminder for when your on a site that there is Shop & Earn opportunity. Making earning SB even easier. 

How much could you earn?

Lets take a average year, excluding any SB from shopping you could earn (so this is no where near the maximum you could earn in a year)

1 SB a day from daily polls - 365 SB

60 a day SB Daily Survey  - 21900 SB

250 SB a week for other surveys - 13,000 SB

10 SB from daily searches - 3650 SB

10 SB from Swagbucks TV a day- 3650SB

4 SB from games - 1460SB

Total - 44,025 SB 

Doing this alone would earn you earn over £300 a year for very little effort. Remember this doesn't take into account any Spend and Earn points you may gain or daily swagcodes so there is potential to earn a lot more than £300. There is an awesome FB group were people save for whole trips to Walt Disney World with SwagBucks!!

Ready to start earning free gift cards?

If your ready to start earning free gift cards click on the link here to sign up and enjoy all the benefits of swagbucks.

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• If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:
• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

*This post contains affiliate links, all opinions are our own*

How to cut debt in 5 steps

Debt is reaching unprecedented levels, the average debt per adult in the UK is £28,877. 
Debt has huge negative impacts on quality of life. Almost half of those in debt find it negatively affects their health. Whilst 2/3 find it affects their ability to perform their job. 

With an new year here, why not take the challenge to work towards eliminating debt from your life. Paying off debt can feel overwhelming and it can be hard to know where to start. Follow these 5 steps to becoming debt free to help you along the journey. They are not an instant solution but guidance on your journey of paying off debt. 

Know your situation.
You may owe money here and there, but it is important to have a clear understanding of your financial situation. Create a list of all you creditors, how much is owed to each, what the interest rate is  and how much the monthly balance is. Doing this allows you to see the whole picture and understand what you have to payoff. 

Make a plan. 
Now you know how much you owe and to whom, it is time make a re-payment plan. Do you have a variety of interest rates or are they all very similar (or even 0%). If there is a large difference between interest rates then priorities the higher interest rate debts first. If there is little difference then work from smaller to larger debt. 
A mixture of these two approaches should allow you to determine the order you pay off your debt. Next you need to break them down into manageable payments. When focusing on a debt, remember that you still need to be able to make all the other monthly payments for the other debts as to avoid going into arrears. For example you may have a credit card debt of £1200 and be able to put £400 towards debt each months but other debts mostly payments equal £100 so you are able to put £300 towards that credit card allowing you to pay of that debt in 4 months. 

Implement changes. So you have your plan, now its time to make it a reality. First off stop accruing any more debt, that means stop using those credit cards. If its not in you bank account it cannot be spent. This will mean making cut backs, but that is part of this process of discerning between needs and wants. If you find this a challenge put the credit cards in a place where you won't use them (or cut them up). Use the cash envelope method (either physically or via a debit card) to keep spending under control and track all of your spending. Remember that once the cash is gone, thats it for the month. This can really help if you have a habit of making impromptu or splurge purchases. 

Cut back spending. So you've stopped accumulating more debt, now its time to look at where else you can cut back on in your budget. Look at luxuries such as cable TV and dining out and see what options for cutting back are available. For utilities and insurance providers it may be worth doing a comparison with supplies to see if you are getting the best deal or if it would be better to switch. These sort of big change will usually only happen once in the process so remember to always be on the look out for littler changes that can reduce your spending such as turning down the heating or taking a packed lunch to work. 

Increase your income. Look for ways to bring in more money. This could be taking on a part-time second job or casual work such as babysitting or dog walking. You may start up your own business selling goods such as on Etsy. Increased income may come from your current job by working overtime or selling off holiday hours. Apply this extra income to the debt reducing process to help speed things up. 

Getting out of debt is by no means an easy feat but the freedom it brings into your life when you succeed is immeasurable. 

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
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• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

EveryDollar review

We may be a little late on the bandwagon but a little while ago we decided to give Everydollar (which is Dave Ramsey's newish budgeting tool) a proper try. Previously we had used it on and off, but quickly reverted back to the comfort of our trusty spreadsheet. We quickly realised that it is not designed to be used in the UK and so that hindered our experience. We were unable to download the app, nor could we change the currency so this hindered our experience to an extent. However, will do our best to fair review of it as a product.

What it EveryDollar?
It is an online budgeting tool that is linked to the concepts of Dave Ramsey's baby step program. There is a free basic option where you have to enter all transactions in manually. There is also a premier version which comes with a fee where it is all connected to your bank account. Due to being in the UK we were only able to try the free version. It is based on the concept that every dollar should be assigned a value, be it being spent or saved.

How to use?
Using EveryDollar is very simple. Sign up for an account (its advised that you do this on a desktop). Then add the categories in your monthly budget. As you spend throughout the month, add these transactions into the budget to track your spending. You can use either the desktop version or the app to track expenses during the month. The premier version through linking the bank cuts out some of the steps for adding transactions into the budget.


The positives
- Accountability. Having the budget linked to the baby steps (albeit only the first three) holds you accountable to where you are financially and the progress you are making. I love that it is linked into the baby steps programme and it really helps to keep you motivated on your personal finance journey. For us this is by far the best benefit from EveryDollar.

-Easy to use. We found the whole system very easy to use, edit and customise. This meant we were keen to integrate it into our routine and found ourself reviewing any purchases we had made during the day and tracking them. For those just starting out budgeting it provides a great foundation by guiding you to the categories that would be good to include in a budget. The help guides are clear and comprehensive if you do find yourself having any queries about how to use EveryDollar. 

- Visually attractive. Each category has a countdown tracker (the line reduces as you spend more of the monthly allowance and turns red if you go over). There is also a handy pie chart on the right hand side that allows you to see where your money is going into the various different categories.

- Accessible. Unlike the spreadsheet we were previously using we are both able to access the budget remotely without having to be on my laptop. Because everything is store on a cloud based system, this makes it super easy to access and great if there are several people using the same budget. 


The negatives
- Inflexible. It feels very much that it is designed for a regular income. Our income are very sporadic (being students) and as it doesn't allow for amount to be carried over month to month (because its not in line with the Dave Ramsey methodology). For us it would work better if we could carry over income, instead we had to create a 'checking account fund' and carry money over that way (making it a bit convoluted). Though we recognise that the majority of users will have far more regular incomes than most students.

- Incompatible. The app doesn't work in the UK (and many other countries), and the page can't be accessed on mobile (your just predicted to app store). This is frustrating as we are unable to update on the go.

- Incomplete. The latter baby steps (3-7) are not fully integrated into the system like the first three are. It would be nice for them to be more integrated for example seeing if you are saving on average 15% for retirement. As we are in the latter baby-steps it was therefore quite disappointing to us.

Do you use EveryDollar? How do you find it as a budgeting tool?