Saving could change your life.
Saving money isn’t something that many of us would put at the top of our bucket lists. However, it does make it in to New Year’s resolutions on a regular basis for a lot of people. If you can start saving money then you can start to meet your financial goals, from buying a house through to ensuring a comfortable retirement. OF course, life isn’t always that simple and if, in the past, you have had a poor credit score then you may have needed loans for people with bad credit or doorstep loans with their high interest rates. But it’s never too late to change your financial habits. When it comes to saving there are some simple ways that you can work towards saving more.
Eat everything in the house
Instead of regularly buying more food, spend one week a month where you just live on what’s in the cupboards and fridge. You’ll be surprised by what you can create from what you already have – and what you could save by not buying more.
Have a big clear out
Going through clothes, furniture, books and electronics will give you the opportunity to generate some extra cash by selling these things online. You might also be surprised by how much you already have and may be less inclined to buy more.
Buy in bulk
From pet food, through to stationary supplies and toilet rolls you can save significantly by buying items in bulk.
Smoke less, drink less
If you really want to save money then giving up smoking and cutting back on alcohol consumption are two of the fastest ways to do it. These are expensive habits – especially if you add in the cost of potential healthcare to cope with the consequences of drinking and smoking too much. Cut them out now and you could save a lot.
Look for better deals
From broadband, to energy costs, mobile phone contracts to insurance, you can save money instantly by finding a better deal on these and paying less. There are plenty of price comparison websites online that will show you where to find cheaper options for much the same products.
Avoid impulse buys
Get smart to the moments in your day when you’re the most vulnerable to impulse purchases – first thing in the morning when you’re half asleep? When you’re bored at lunchtime? Remove temptation and leave your credit cards at home – or go for a walk in the park instead of to the shops. Curbing those impulse purchases could help you to save a lot more.
Set yourself up for success
If you don’t have a savings account then get one – and set up money transfers that take cash out of your main account as soon as you’re paid. If you don’t give yourself the opportunity to waste that money then you’ll be able to save more of it.
Get a bike
Instead of running up huge transport costs, take to two wheels and save yourself the expense of petrol or public transport – you’ll get fitter too.
Buy second hand
From new shoes for you, to clothes for a new baby there are lots of items that you can buy second hand and so save yourself the cost of something brand new.