Smart expense management is a vital tool for smart savers

People who say they don’t need more money are rare indeed. For most of us, having a little extra can make a significant difference, even if it’s just a question of resolving the issue of there being to much month left at the end of the money.

For many, in these tough times of austerity, having a little extra can seem impossible – but it’s not completely out of the question to make more of what you do have.

Shopping around for all sorts of things to get cheaper deals can be surprisingly lucrative, from car and home insurance to groceries.

And the same’s true of interest rates for savings – even if they are marginal just now! If you have money put by, and don’t need to dip into it, there are ways to make it increase faster than with mainstream banks. Ultimately, this will yield funds for, well, whatever you’ve set your heart on…

You could seek longer-term deposits, which will generate marginally better interest rates – or you might consider a foray into the world of crowdfunding, supporting projects you find interesting.

Expense Management AppBut you would also be well advised to start using a free-to-download expense management app. Diligent use of it will highlight areas on which you could cut back without feeling any kind of pinch, freeing up money with which to build a savings nest egg. Effectively, it’s smart expense management helping anyone to be a smart saver.

Remember the film classic Mary Poppins – the old bank manager there advocated investing a couple of pennies in the bank. You wouldn’t think of investing a couple of pennies today, but the principle remains: investing what you can, in the right place, can yield big benefits for the smart saver.