Money saving tips

With costs increasing, it might feel overwhelming thinking about your finances, but saving money could be easier than you think.

We’ve put together some useful tips to help you save money, cut costs, and even maybe make a little bit extra to help you.

Think about the energy you are using

Simple actions like using energy-efficient bulbs, turning off standby devices, or reducing the temperature of your heating by 1°C can make a difference. If you have children like me, you’ll know that they love to leave every light on in the house, prompting me to utter that age old expression ‘it’s like Blackpool Illumination’s in here’ that we all know from our own childhoods! 

Plan your meals for the week to avoid over-spending when you’re hungry

We all know the temptation after a long day at work to reach for the takeaway menus, or to wander around Tesco when you’re starving and picking up anything you fancy. Weekly meal planning can help to reduce food waste, as well as helping you to save money, and eat more healthily. If you love the idea of reducing food waste, we’re big fans of the Too Good to go app, which offers bags of reduced items that would otherwise be thrown away for a small cost. Be prepared for some surprises, I once got a bag with 9 different types of lettuce in, my son’s hamster was thrilled!

It’s also worth shopping around for deals, it seems like a faff, but can save you a fortune if you’re willing to visit a few shops, especially if you have the space to buy in bulk when something you use regularly is on offer. 

Don’t forget to sign up for supermarket loyalty cards too. There’s nothing I love more than tapping my loyalty card in Tesco or Aldi and seeing the cost of my shopping reduce, and more supermarkets are competing now to offer the most attractive savings with their loyalty cards.

Do a direct debit audit and save on unnecessary subscriptions and bills 

Don’t worry, we’re not saying you must cancel your Netflix subscription and all your financial problems will be resolved, but having a look through all the little payments that regularly come out of your account might highlight some wasted money. That gym subscription only works if you actually go to the gym (I know, annoying right?!) - If you’re not using it, then cancel it. I recently cancelled my ITVX subscription after I realised I hadn’t watched anything for 6 months. Yes it was only £5 a month saved, but it’s £5 a month that now stays in my bank account, and every little helps! 

Quite a lot of companies will offer you discounts if you are looking to cancel your packages or looking at other providers, so it’s always worth a conversation or a look online. 

Clear out your clutter

‘One man’s trash, is another man’s treasure’ I believe is the saying. Apps like Vinted and Ebay are great for selling your pre-loved items, or if you can brave the British weather, car boot sales are great for a clear out. If you have baby clothes, children’s toys or other children’s items to sell, Mum to Market sales can be successful too.

Be sensible when you’re shopping online 

Apps like Amazon make it easy to buy things without even thinking about it, especially now you can ask your Alexa to do it for you. If you see something you like that you weren’t planning on buying, sleep on it and see if you still want it the next day. If you put it into your basket and you are logged into an account, a lot of retailers will email you a discount code in the coming days to try and entice you to purchase, which can be useful if you are patient enough to wait.

Protect your credit score

If you are looking to borrow money, whether it be for general spending, a DIY project, debt consolidation, or something else, think about the long-term implications. Can you afford the monthly repayments? What about if anything changes with your income? Always make sure you consider interest rates, and steer clear of expensive payday loans which can end up with you paying back a lot more than you would expect and are a big red flag for most mortgage lenders.