Are you watching the pennies and seeing where you can save the pounds? Is money tight at the moment and you are trying to find ways to save a few extra quid? With these top 10 brilliant money saving tips you’ll be on the right track to boosting your bank balance and keeping hold of more of your cash.
Make A Budget
A budget is perhaps one of the most important additions to our top 10 brilliant money saving tips. Without a budget how can you know what is coming in and out of your household income every month? You need to figure out what you are earning, where you are spending and find a way to live within your means. A lot of us simply put stuff on credit cards without thinking about paying it off. By putting a budget into place, and sticking to it, you will soon have a handle on your personal finances.
Shop Via Cashback Sites
We all have to spend, but if you are shopping online by going directly to the retailer’s website you are spending more money than you need to. By clicking through via a cashback site you will earn a percentage of what you spend, as cashback. By adding this extra click to your spending habit, you can earn £500+ each year. That’s a mortgage payment or a short city break! Start using cashback sites today!
Review Your Debts
If you have debt, how much is that debt costing you each month? Debt can easily accumulate, with daily interest mounting on top and it can soon get out of control. You might be able to shift your debt to a 0% card which will give you 12 or 18 months to start clearing the debt, rather than just paying off interest. Review your debts, get them under control and paid off.
Use What Is In Your Cupboards
How often do you get to the end of the day and just order a takeout? Maybe you haven’t planned what to have for your evening meal or you pick something quick and easy up from the shop on your way home from work. By shopping sensibly and utilising what you have in your cupboards, you can cook healthy and nutritious meals from scratch, enjoy mealtimes together and save some money!
Get Rid Of Your Old Stuff
A lot of us have bundles of stuff in our homes that we don’t use and simply do not need. I once read that the average person has up to £1000 worth of stuff that they don’t use, wear or even want anymore. By getting rid of our ‘stuff’, we can reclaim some of the square footage in our homes, making space for a clutter-free house and mind. Not only that, this stuff has value, so we can sell it to make a bit of extra money. Even broken stuff has value as there are people out there who will buy it cheap and fix it. Utilise fee-free platforms such as Facebook Marketplace when you declutter.
Question Your Purchases
Next on our top 10 brilliant money saving tips is questioning your purchases. Impulse spending can be a huge factor in personal finance woe. A great habit to get into is questioning purchases. Give yourself time to consider your spending before you actually buy the item you are looking at. It is all too easy to check out online these days, as many of us save our card details on websites and can spend a small fortune in just a few clicks. Give yourself 24 or 48 hours to consider your purchases and you’ll come to the right decision for yourself in your current situation. If you add the item to your basket and then leave the website, you might even get a discount code sent to you to make it even cheaper if you do decide to buy!
Don’t Pay Full Price
There are so many vouchers and discount codes out there that will save you money when you spend. Join loyalty schemes and search online for codes. By doing a little bit of legwork and a few online searches you can find ways to save money. Sign up to the website with a new email address and claim the new customer discount! Even using a cashback card that gives you 1% back on spending will save you money.
Make Your Money Work For You
Next on our list of top 10 brilliant money saving tips is interest rates. Where is your money right now? Many of us haven’t shifted our savings in a long time. There was a time, not too long ago when interest rates were extremely low. These have since risen and we should all be getting a minimum of around 5% interest on our money. Check the interest rates of your accounts. If you are only getting 1% or 2%, you need to shift your money elsewhere to earn better interest.
Take Time To Compare
When did you last compare your bills? Lots of us just simply let direct debits drop out of our accounts every month. Your subscriptions can creep up in price, often without you even noticing. It is important to compare the prices we are getting, not only with new customer offers from other retailers but from the company you are with already. A simple phone call could save you £20 on a TV and broadband package. Over a year this is a £240 saving! Imagine if you did this with all your subscriptions and bills. You could save thousands!
Educate Yourself
The final entry on our list of top 10 brilliant money saving tips is education. I’ve had so many conversations with people who agree that personal finance needs to be taught more in schools. We are not set up from a young age to look after and have control over our money. This is why it is important to educate ourselves. Education can lead to financial fitness. We all learn differently though, so take time to find out which way of learning about personal finance can help you. It could be watching TV shows, reading blogs, or downloading eBooks. Education is power!
With these top 10 brilliant money saving tips I hope you can get your finances back on track.
