Want to save more money? Of course you do!
Unfortunately, as much as most of us love the idea of saving money, we also know how hard it can be to stick to our guns and cut down on spending. When we work hard for our money, we tell ourselves that we deserve to spend it on anything that we want – and that’s true.
Unfortunately, this often means that we end up making impulse decisions that aren’t good for us in the short, or the long-term. If you’re ready to change the way that you spend and save, the following tips will help.
Make Savings Automated
One of the toughest parts of saving is remembering to do it. We know that we need to pay our bills every month, but after that it’s easy to get carried away with discretionary spending. Putting your savings on auto-pilot helps to reduce your chances of going months without saving a penny.
Figure out how much money you can afford to put into your savings each month from your income, then arrange an automated direct debit from your current account to your savings account. In no time, you’ll forget that you’re even putting cash away for the future.
Make Your Home More Energy Efficient
A lot of people are focusing on the benefits of making their homes smarter these days, with intelligent speakers and assistants. However, what about making your property more energy-efficient? Using things like smart thermostats to track how much energy you’re using or taking out a loan from a broker such as Readies.co.uk so you can replace those old and drafty windows could save you a fortune.
Although updating your home can mean spending a little more initially, it could mean that you have a more frugal, and healthy life in the future.
Make a meal plan
It’s difficult to push yourself into making a home-made meal every day when you’re living a hectic lifestyle. By the time you get home after work, you’ll probably be tempted to order some food, or buy something quick on the way home instead. However, a meal plan can help you to fight against this urge. It ensures that you know exactly what you’re going to eat each day.
If you know that you’re going to have a busy day ahead of you, then you could even choose to prep some of your meals ahead of schedule and put them in the freezer. That way, you just need to heat them up when you’re ready to eat.
Drink more water
This isn’t just a tip that will delight your doctor – it’s something that will keep your bank account in a healthier condition too. Drinking more water means that you spend less money on buying drinks when you’re at work, or out and about. It also means that you’ll fill your stomach around lunch and dinner time. That means that you don’t eat nearly as much either. Even when you’re eating out, you can save a fortune by opting for free water rather than a fancy drink.
The more you get into the habit of drinking water, the easier it will be to stick to it wherever you go.
Part of having a successful budget is taking the time to figure out what you’re spending your money on each month. Once you do that, it can be helpful to ask yourself whether you really need the things that you’re buying. Do you need a home phone subscription if you’re always using your mobile to make calls anyway? Do you need the gym membership when you can work out just as well at home?
Challenging yourself to find things that you can easily cut out of your monthly spending routine will help you to get rid of expenses that you don’t really need anyway.
Finally, once you know that you’re only spending money on things that you actually do need, make sure that you’re not spending any more than is absolutely necessary. Think about comparing your rate options by going online and checking how much you can save on a deal for things like home and car insurance, or even broadband deals.
If you can’t find a better deal online, you could potentially save money by calling your current provider and telling them that you’re thinking of switching. This will usually push companies to give you an offer or discount much more quickly.