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Originally Posted by Jynx-Manchester
I get paid well through work but i spend my money far too quick and towards the end of the month i always struggle. i was going to try and make a bit from ebay but i have nothing to sell haha.
anyone else get into the situation at the end of the month when they have no money but have ways to turn it around?
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I was like this for ages mate. Rather than coming from a place of how can I accumulate more you have to look at how can you spend less. If you spend your money far too quick and struggle by the end of the month your living beyond your means!
You have to take a serious look at your outgoings and see where you can limit some of them. For me this meant reviewing all my bills, not going out for meals as much and putting a budget on my clothing and leisure outgoings.
Making a quick sterling 'legally' is way more hassle than its worth man. Anything worth doing takes time and effort. If it wasn't we'd all be one minute millionaires. Look at your own life and identify areas you can make additional income from doing something you enjoy already. For me this was teaching jiujitsu privates on the side and coaching at a gym once or twice a week. Whilst this didn't pay the bills it did pay for my beer, which meant my salary no longer had to.
Take an interest in money and how it works. Read into the markets and look at world events and how it affects finance. Read books on recreational trading. Robbie Burns 'The Naked Trader' is an awesome start. If you can get some capital and invest it wisely you can get 10-15% ROI which no bank on this planet will give you now.
I disagree with Hustler about the ISA's, right now your lucky to get anything around 3%, I've had a letter this week to say my interest rate is dropping even further! Your limit it also capped on an ISA so unless you have already built up an ISA with a considerable amount of money the interest you earn will be like £~100-200 for a year on £5640, which is fuck all.
After a rude awakening I took a very serious interest in my own finances and how money works and I'm so glad I did. I used to spend money like it was going out of fashion and didn't really give a fuck about it, I never saved and I just didn't care. That way of living and valuing money can come at a very serious cost. Have a serious look mate, I saw some hard truths about my life when I did but it was one of the best decisions I made.