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5 Everyday Stress-Free Cut Backs


1st Jan 2015 Managing your Money

5 Everyday Stress-Free Cut Backs

Everyone wants to save money, but nobody wants to compromise their quality of life to do it. Luckily, there are some small changes you can make in your day-to-day life that can save you significant amounts of cash.

1. Buy own-brand products

Supermarkets offer their own versions of many branded products. These own-brand versions are usually significantly cheaper and aren’t noticeably different from their better-known counterparts. Switching some of the items in your weekly shopping for the supermarket’s cheaper equivalents can save you money at the check-out. Even if you don’t swap every possible item for the own-brand version, you can still make substantial savings just by swapping a few.

2. Do your shopping later

While we’re on the subject of shopping, did you know that many supermarkets reduce their prices just before they close at the end of each day? They don’t reduce the price of all their products, of course; they only reduce perishables and items that are due to go past their sell-by date. However, enough items are reduced to make shopping later in the evening well worth the effort. You’d be surprised how much money you can save on your grocery bill by adopting this strategy - especially if you also try to buy own-brand products over their branded equivalents, as we suggested in point 1.

3. Change your energy company

Are you getting the best deal on your gas and electricity? The truth is, you could almost certainly find a better deal by looking at price comparison websites and other impartial sources. Switching to a new energy company might be a bit of a hassle, but in the long-run, it’s comparatively stress-free and, more importantly, it really is worth it. After all, you only have to put in the effort once but once you have, you’ll continually save money on your gas and electricity bills.

4. Pack your own lunch

Do you work in an office or similar environment and frequently take your lunch at the staff canteen or local cafe? If so, you might be surprised by how much money that’s costing you! If you’re paying less than £5 per meal (for example), those small sums still add up to a more substantial one over the course of a week or month. Making a packed lunch for yourself is much cheaper and will save you more money than you’d expect. Plus, it’ll almost certainly taste better, too!

5. Pay by cash, not by card

While paying by cash rather than card doesn’t save you money directly, it does make it much easier to keep track of your finances. It’s all too easy to lose track of how much you’re spending if you habitually pay by credit or debit card. If you make a habit of paying by cash, you’ll learn to notice how much you’re spending, which makes it easier to cut out superfluous expenditure.

Of course, these aren’t the only ways to cut back and save cash, but if you follow these five simple tips, you’ll be well on your way to reforming your finances and putting aside a little extra money!

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