10 things you can do TODAY to save money

10 things you can do TODAY to save money

author: Emily

By Emily

From skipping the daily coffee run to making a shopping list, these ten easy tips could boost your savings.

As a nation, we’re constantly looking for ways to save money and cut back on spending. It’s much simpler than many of us think and a lot of these changes can be done on the bus on the way to work and during your lunch hour.

By following these ten simple steps, you can reach your financial goals that little bit quicker.

1. Bring lunch from home

If you buy a meal deal from a supermarket every single day, this could set you back a whopping £70 a month on average (and that’s a low estimation).

Why not do some weekly meal prep at home and make your lunches in advance, or even bring in leftovers from the night before? There are so many easy to prepare healthy lunch ideas out there that it’ll be difficult to choose!

2. Skip your morning coffee run

A lot of us look forward to this well-deserved treat every morning, but it’s a treat that can seriously add up over time. Take your average medium size latte, for example. Costing between £2.60 and £2.85 depending on your coffee shop of choice, these daily coffee runs can add up to around £57 a month.

Why not try reducing them to once or twice a week? Or cut them out altogether, invest in a reusable cup and bring coffee from home? You’ll make quite a hefty saving to help you reach your financial goals.

3. Think about consolidating your debts

If you’ve had your credit card for an extended period of time, it’s easy to forget how much interest you’re paying. This can lead to simply paying the minimum amount each month and never being able to bring your debt down.

Why not spend your 30-minute bus journey into work looking at the possibility of consolidating your debts with a personal loan? It may mean a smaller interest rate and more affordable monthly payments to help reduce your debts even quicker.

4. Give yourself a daily allowance

It might sound a little odd, but hear us out. It’s easy to head out on our lunch break and hit the shops for a bit of browsing, but before we know it, we’ve bought something we probably don’t need.

From a new top, shoes or a kitchen gadget, it’s easy for these costs to get out of control. Try setting aside a little bit of fun money to spend however you want each month. Of course, the amount depends on your overall budget, but sticking to this limit will help you reach your financial goals and cut back on spending, too.

5. Try supermarket own brands

More often than not, most of us can’t tell the difference between branded products and a supermarket’s own brand. On your next shop, try swapping your Heinz baked beans for the own brand version or your expensive tinned tomatoes for the ones that only cost 20p.

Not only will you not have to cut out your favourite foods, you’ll be surprised at the lack of difference and the money you can save overall.

6. Oh and don’t forget to take a list!

One of the biggest mistakes we make is heading to the supermarket unprepared. Whether you head there daily, weekly or monthly, one of the best ways to save money is to always take a list.

You may already have most of the ingredients you need for your meals at home, so not only will you save cash, you’ll help to reduce food wastage too.

7. Cut out unnecessary subscriptions

Do you really need to be paying for your expensive Sky or BT TV packages with the likes of Netflix, BBC iPlayer and other streaming services available? Think about which of these you get the most out of and if you don’t use one of them, cancel your subscription.

If you’re not sure how to cancel subscriptions, the easiest thing to do is give the company a call. You could end up saving yourself between £50 and £80 a month depending on what packages you have! More money to help you grow your savings pot.

8. Save money by staying active

Did you know that some life insurance companies reduce their monthly premiums the more active you are? It’s a great way to not only save money, but to keep fit too! You don’t need to head to the gym to stay healthy; there are a number of other ways you can stay active − from working out at home to simply walking instead of taking the car.

9. Set up a standing order

A fast and simple solution to getting more money saved for a rainy day. Most banking apps will allow you to do this on your phone, so it’s a great one to do on your journey to work or lunch break.

Simply set up a standing order for an amount you can afford, and by making the date the day you get paid, you’ll soon forget you have the money there as it continues to grow in your savings pot! Those financial goals will be in reach quicker than you realise.

10. Try a mid-week date over a weekend

Why not swap your weekend night out with a mid-week treat? Lots of restaurants offer discounts and deals during the week to get people through the doors.

Plus, many restaurants and bars now operate on tastecard which gives you access to amazing deals, such as 2 for 1 and 50% off across thousands of eateries nationwide.

Take these simple steps to help save you money today

By following our 10 simple steps, you’ll be able to cut back on spending, easily increase your savings and work towards reaching your financial goals.

Disclaimer: All information and links are correct at the time of publishing.

author: Emily

By Emily

10 things you can do TODAY to save money 10 things you can do TODAY to save money