Do you want to save money?
The reason we struggle with saving money is that it involves a change in our habits. Making these minor, easy adjustments in your daily life can save you hundreds of Pounds.
Pay with cash
The first thing you need to do is stop using your credit card for everything. Suppose you want to be able to save money. In that case, you need to think about how much money you actually have and what you can afford instead of just spending without thinking about it all the time.
Make your own lunch
Making your own lunch is a great way to save money. It takes a little more time, but it’s so worth it. You can spend £5 on a meal deal or make your own lunch for just £1 or £2 using leftover ingredients from dinner the night before. Making your own lunch is one of the easiest ways to save money. It also means that you can choose healthier options, as opposed to relying on a pre-packaged lunch.
Bring your own coffee
If you’re a coffee drinker, there’s no excuse to buy it from a shop. The cost of a takeaway cup of coffee is often more than that of a coffee maker! So if you’re serious about saving money, ditch the daily trip to Starbucks and make your own at home instead.
Use cashback websites
Suppose you’re an online shopper or use sites such as Groupon. You should use cashback websites like Quidco or TopCashback to get money back on your purchases. Even if it’s just £1 per £100 spent, over time, this will quickly add up – especially when you start factoring in the money-off vouchers they offer too!
Use discount apps to shop smarter
These apps allow you to shop smarter by looking up prices from multiple retailers, finding coupons, and comparing prices before buying anything. This can save you money because it helps you avoid impulse buys.
Be prepared for unexpected expenses
Maintain a buffer of at least three months of living expenses in a savings account. This will help you to avoid making high-interest credit card purchases when something unexpected happens, like your car breaking down.
Don’t live beyond your means
How much can you afford to spend? If you’re living payday to payday, consider cutting down on some of your expenses. Take a good look at your monthly bills and see if there are any ways you can lower them without sacrificing your quality of life. Reducing the cost of your lifestyle might mean cancelling Sky TV, eating takeaway less often or taking the bus instead of driving.
Save small amounts regularly, even if it’s only a Pound a day
Saving money is a skill that you can learn. It’s not just about making a hefty deposit into your savings account or putting money aside for emergencies. It’s also about making minor changes to your daily habits and lifestyle.
If you’re serious about saving money, it’s essential to start small and build up gradually over time. Even if you don’t have much to spare, try saving something every day so that by the end of the month, you’ll have built up a decent amount of cash.
Set up an automatic monthly transfer from your current account to your savings account. Setting up automatic transfers helps ensure you only spend some of your money on impulse purchases or other necessary things. When there’s less cash in your current account, spending it all at once is harder, and that means fewer impulse purchases!
Stop buying things you don’t need or can live without
When it comes to saving money, there are two types of people: naturally frugal and those who have to work at it.
If you’re in the latter group, don’t feel bad. It takes time to develop the proper habits. Buying things you don’t need or can live without is the most crucial rule for saving money. If you have to think about whether or not something is worth spending money on, there’s a good chance it isn’t.
Always try to negotiate when you can
Negotiating is a skill anyone can learn, and it’s handy for saving money on big purchases like cars or houses. If you’re buying something new, don’t hesitate to ask for a discount, even if you’re paying cash. It never hurts to try!
Conclusion
There you have it, 10 simple little habits you can quickly adopt to help you save more and spend less. You can use these habits daily without even thinking about them, and they will add up over time. So take them, run with them, and watch your bank account increase!