Savings tips for those who struggle to save
BY READERS DIGEST
1st Jan 2015 Managing your Money
When it comes to saving money, knowing where to start can be difficult. If you don’t have a lot of money to spare saving becomes a struggle, yet saving money is often the best way to ensure you are able to live comfortably and to have a secure financial future ahead of you. To help you out, here are some tips for the best ways to save money.
Understand Why You Save
It might seem a daft thing to say, but understanding why you save money can help you stay motivated. When you feel like spending your spare coins for a cup of coffee at the local café or buying a bag of chips on your way home from work, reminding yourself about your savings goal can keep you on the right path. Whether you are just saving for a rainy day, your retirement or a holiday abroad, remember the end result and how the extra funds will make you feel once the spending cravings hit.
Create a Monthly Budget
If you don’t already have a budget, then you need to make one right away. Calculating your monthly income and spending can ensure you know how much you are able to save. Which.co.uk has a great step-by-step guide to budgeting that you can check out if you don’t know how to start.
If you feel like there is no room to wriggle, don’t worry. There are plenty of ways to cut down your monthly spending budget and have more money to put aside.
Saving Money on Food
One of the biggest expenses we all have is food. Luckily, you can save a lot of money by getting smarter with your grocery shopping and utilising these simple tips:
- Plan your meals: Just like budgeting, planning your weekly meals can end up cutting your grocery costs. Use tools like Sainsbury’s meal planner to ensure you only buy the things that you need.
- Skip meat for one day: Not only are vegetables good for your health, skipping meat for one day can also cut your shopping budget. As you start enjoying vegetarian food more, you can skip meat for two days a week! If you’re worried about protein just add beans and lentils to meals instead.
- Stop wasting food: as you start planning your meals beforehand, you’ll most likely notice you have less food waste as well. If you still throw away a lot of food, you can check the recipe tips at Lovefoodhatewaste.com and save money by cutting your food waste to minimum.
Shop Around to Save
Whether it is your car insurance costs or your energy bill, shopping around for better deals can save you a lot of money. Comparison websites are handy for finding the right deals for you. Sometimes you might not even have to change your service provider. Instead, use comparison websites and see whether you can find a better quote. If you do, call your current service provider and let them know you are considering changing to a better deal. You may be able to get an even better offer from your current provider!
Shop around yourself, too, as not all providers are on these websites. You should also take your approach to shopping around into all other areas of your life!
Utilise Loyalty Cards
One of the best ways to save money is by utilising loyalty cards for companies you use regularly. Tesco’s Clubcard and Sainsbury’s Nectar card not only provide you points for every time you spend, you can also find better deals from the company and their affiliates. Always check the loyalty card company’s website, if you are looking for something to buy.
To become an ultra-saver, try and shop at the same places where you can use a loyalty or rewards card all the time.
Buy Second-hand
Second-hand products are a great way to save money, as you can often cut your costs in half. Websites like Ebay can provide you anything from second-hand clothing to used gardening tools and you’ll end up saving a lot of money.
If you have products you don’t need anymore, you can even swap items with friends or sell your own things online. This can quickly boost your ability to save money and you won’t be struggling with your monthly budget.
If you have products you don’t need anymore, you can even swap items with friends or sell your own things online. This can quickly boost your ability to save money and you won’t be struggling with your monthly budget.
Consider using websites like Freecycle, too, and look out for people giving things away on social media.
