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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