Useful tips to save money

How to Make Simple Savings

A small pink piggy bank, with a person's hand feeding a coin through the slot.

Useful Tips to Save Money

Budgeting is an important skill at any age. Whether you are looking for specific saving tips, or improving general habits, here are some useful tips:

  • Write down your outgoings: Make a list of your monthly spend, as this will help you determine where you can make some cuts.
  • Don’t impulse buy: Don’t be drawn in and try to think about your purchase, as you often won’t choose to buy in the morning.
  • Shop around: You may find that it’s cheaper to go to a different supermarket, or buy your items elsewhere.
  • 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!
  • Buy quality products: By purchasing tried and tested products, you will have quality items which will last you longer than cheaper buys. Take a look at Which? where they review and recommend everything from washing machines to advice on taxes and saving.

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.

Age UK also have some more advice on how to make your money go further. Read their handy tips here.

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