Useful tips on how to save money
Budgeting is an important tool to use at any age and there are a few practical steps you can take to save a little extra. Whether you are looking to save on your food shopping or general shopping habits, these tricks may just help keep your pockets lined with extra cash:
- Work out what you spend your money on: Make a list of everything you spend money on per month as this will help you determine where you can make some cuts.
- Don’t impulse buy: Although something may seem lovely when you see it in the shop, ask yourself if you really need it and think carefully before making the purchase. A good trick is to sleep on it as it might seem less appealing in the morning.
- Shop around: It is always worthwhile to compare prices and research the competition. You may find that it may be cheaper to go to a different supermarket, or buy your clothes from a different shop.
- Beware of special offers: Never buy something you don’t need just because it’s on offer. Vouchers and special deals are designed to make you spend more, not less.
- Drop change into a jar: If you have loose change in your wallet or purse, you’re more likely to spend it or lose it in the depths of your car or couch cushions. Once you have a healthy stash, you can take your coins to the bank and deposit them- more savings!
- Go generic: There’s no need to spend extra money on over-the-counter medicine just because it’s a name brand. The same goes for that box of cereal or jar of jam. In fact, generic brands are often identical ingredient-wise to name-brand products – they just lack the fancy labelling!
It is possible to improve your finances by doing a few things that actually require very little effort. Saving your pennies, shopping smarter and thinking before you buy are just a few simple ways to save a bit of money every month.