6 Simple Ways To Save More Money
This post may contain Affiliate Links
AD – This is a Sponsored Post
Is your New Years Resolution to get those finances in order? Use these tips which all take less than half an hour to implement but could have a lasting impact on your money mindset and help you to save more money.
January is often a time where we look to the year and make resolutions – usually, things we think will improve our lives in some way. More often than not, this involves our health and well being – dieting, losing weight or joining a gym to improve our fitness.
6 Simple Ways To Save More Money
But what about our financial health? January is also a time to think about money – often because we’ve overspent in December. If you’re not used dealing with finances or find the idea of suddenly trying to save more money on everything is a bit much, these tips are for you.
Simple ideas to get you started that can be done in less than half an hour or maybe once a week over the course of a month.
They seem like little things but put them all together and they soon start to add up. It can also stop you getting overwhelmed – overwhelm can often lead to failure, so small steps to improving finances are essential.
1. Start a spending diary
I wrote my first ever Spending Diary in November last year and it is certainly an eye-opener. Whether you track your expenses with pen and paper or fancy phone app seeing exactly where your money is going is never a bad thing. The odd few pounds here and there can really add up without you noticing
My first suggestion is to slowly begin becoming more money aware.
Almost all U.K banks offer apps which make tracking your money easier than ever. Make time each day to check your transactions, even if it’s just two minutes first or last thing.
Getting in the habit of seeing what’s going in and out makes it easier to see when something isn’t right. It’s also an easy way to spot unused direct debits such as gym memberships and subscription services such as Amazon Prime.
Using some well-researched subscription boxes, like these self-care boxes, can help save you a good chunk of money if you’d usually buy similar items separately. However, if you’re finding it’s something you’re spending on but not using it might be time to cancel.
2. Set a Budgeting Challenge in one Area. Smash it. Repeat.
Overhauling spending and trying to save more money in every area of your life at once can seem overwhelming. Setting a small challenge in one area can help you make small adjustments with little effort. Once you feel comfortable and as though it’s going well, repeat in another area.
Areas this could work in:
- The weekly shop
- Takeaways and Eating Out
- Family/Kids days out
- Drinking/ Going to the pub
- Cinema trips
3. Tackle One Thing at a Time
Tackling things in small chunks makes them much easier. Make a commitment to make one small money change each week until you feel like you are more on top of things.
Here are some suggestions for small money-saving ideas to tackle one at a time:
- Sign up to cashback websites such as Quidco and Top cashback: People seem really dubious of using these but there really isn’t a catch. Make money back when you shop online.
- Haggle with Sky. (Or whoever your TV and Broadband provider is) This can be done either by phone or by going to the online chat function.
- Switch Gas/Electric provider.
4. Give Up Bad Habits
We all have various vices and bad habits that can end up costing lots of money. Mine are definitely food related – takeaways and treat foods like chocolate and sweets which I struggle to resist, especially if I’ve had a bad day. For others, it might be drinking or smoking.
Drinking is a tricky one, as it’s often linked in with social occasions. You could try giving up for a month and tracking what you save – seeing the amount written down might just shock you into drinking less, and of course, it’s better for your health too.
Smoking is one of the hardest things to give up and to do it successfully, you really need to be committed and have plenty of will power. Vaping is a good and cheaper alternative to smoking as you still get the nicotine hit without the harmful chemicals and massive expense. Thousands of people across the U.K have successfully switched from smoking to vaping and are reaping the rewards both financially and in terms of their health.
5. Switch Supermarkets Slowly
For many, the weekly shop is a massive chore. So the idea of switching supermarkets isn’t appealing. It’s not really fun having to learn where everything and not being able to find your favourite products.
However, the savings that can be made are huge. We’re Lidl converts as the Aldi in our town is small and we can’t get much of our shop there. Try using a discount supermarket for a mid-week top up. Once it feels more familiar, make the switch to doing your weekly shop there. I’ll admit we can’t always get everything we need in Lidl, but it’s worth having to make the odd trip to Sainsbury’s for the overall savings that we make.
6. Both Long and Short Term Goals are key
Setting both long term and short term goals is key when changing your money mindset. Take some time to write down what you would like to do with the money you’ve saved in both the long and short term. These goals will of course, depend upon your circumstances.
For some, saving an emergency fund could be an essential tool for preventing debt and other money problems in the coming year.
For others, it might be for a holiday or something even bigger like a house or wedding. Having goals that are written down and pinned somewhere you can see them – for us we stick everything on the fridge! – can really help you remember why you’re saving, even on days you might feel like you can’t be bothered to carry on.
What are you doing this year to save more money?
Looking for ways to cut back on unnecessary buying? See this post from The Curved Opinion.
These are so simple to get going on. I haven’t tried Top Cashback, but will definitely give it a go.
Elly