With the current situation many of us find ourselves in there’s never been a better time to sit down and look at your finances. Finding ways to save money on the little things can add up to enough money saved to help through furlough, to give you something to look forward to like a luxe holiday, or more days out as a family in the future. We all have plenty of monthly expenses we could probably be cutting down on and saving our hard-earned cash in the process. If you want to get savvy and save money, here’s how to get started.
Making sure you have the important bills prioritised is key, plus adding some new protection to make sure that should anything go awry we have a safety net. We all have such things as home and car insurance, but not many have life insurance. Not many of us want to think of ourselves in a situation where our loved ones would need life insurance for us, but it’s more than just protecting against the obvious. Many policies have illness cover and income protection built in to help pay the bill if you get sick. Its always worth using an insurance broker to find a policy that fits best for you.
This is one of the biggest monthly expenses, so cutting down on this each month could save you a fortune. There are plenty of ways to reduce our energy consumption and save, and here are just a few options:
- Find a new energy supplier – use a price comparison website to see if you could be saving
- Invest in smarter energy – purchase LED bulbs, get yourself a programmable thermostat and
use power timers
- Watch your usage – turn off switches, don’t charge your mobile overnight, and find
alternatives to technology, such as a good book
- Not only will these options save you money, but they are also better for the planet.
If you own a car, you will understand just how much this can put you out of pocket every month. For many who live too far away from school and not close enough to public transport links, getting rid of your car isn’t a viable option. Instead, look at ways to save money on your car bills. Take good care of your car and ensure you do the correct maintenance, as this will keep it in tip-top condition.
Before your insurance is due for renewal, use a car insurance comparison website such as Quotezone to get yourself a cheaper deal. They check over 100 top UK providers, making the car insurance comparison task much easier for you. It may be that sticking with the same provider isn’t saving you money, and you don’t need to have any loyalties if this is the case.
Find ways to save money in everyday life. Here are a few tips to get you started:
- Buy used items or visit charity shops to find great deals on clothing and furniture.
- Start growing your own foods, such as tomatoes, chillies, and herbs.
- Choose supermarket own foods rather than branded – usually, you can’t tell the difference.
- Learn how to self-groom, anybody can dye their own brows at home and box hair dyes look just as good. If you are struggling, get someone to help you.
Cancel Those Memberships
Let’s be honest, many of us have memberships we barely use. If you have a TV licence but don’t
watch your TV, consider getting rid of it and just using streaming services instead. This is one of the things I did about 6 or 7 years ago, and although a saving of around £13pm doesn’t seem much, over the years it’s all added up. However, if you do get rid of your TV licence, be sure you know what you can and cannot watch.
If you use Netflix, consider sharing with a friend or family member; this way, both your bills are cut in half, and Netflix allows two people to watch something at once. You can also add screens if you are sharing your account with a big family. If you barely visit the gym, cancel your membership and get some home workout supplies instead. If you are looking to save some cash for what really matters, follow these nifty tricks to save a whole lot of money on your monthly expenses.