When it comes to saving, we all start the year with the best intentions, and somewhere along the way, it doesn’t go quite to plan. Most of the time, we put all of our eggs in one basket and hope for the best. But if you employ a few different methods to your savings, you are more likely to have multiple little pots of cash stashed around.
One of the most prominent places we inadvertently waste money is the food shop. We all have to eat, so it will always be one of the biggest spends a family makes. In the last few years, more people are becoming stricter about what they buy and when. For example, if you tend to do the food shop at busier times, you are more likely to grab things you don’t need to more expensive items because you can get to them more easily. Making a meal plan in advance for each day, and working out which items can be frozen for use later in the week is very useful. You can also spend some time on food shopping comparison websites to find the best deals.
Many people sign up to multiple online shopping reward programs and forget to use them. Getting into the habit of using them properly will see you slowly saving up points, vouchers or money over time. Think about what you buy most online, and then before you make any purchases find a cashback or reward program that fits with that.
There are probably plenty of things that you have that you don’t really need. Most of us have a range of kitchen machinery, gardening gear and smaller things that we don’t use and are gathering dust. Selling things on Facebook Marketplace, Gumtree or other online selling sites can be a quick way to raise some quick cash when you need it. A great alternative is knowing you can get a loan in an emergency.
Kids grow so fast that spending £10-£100 on new clothing and coats every other month can be a bit of a reach. You can trim that back and find a secondhand shop near you that has what you are looking for. Once they grow out of them, if they are in a good state of repair, you can donate them again. This saves money but also is better for the environment.
There are nifty auto-saving apps that you can hook up to your bank account that will calculate how much you can save per week, and put it away for you. They always take into consideration what you spend in a week, and how often you get paid. It can be as little a £1 a week. If you leave the auto savings running and they mount up pretty quickly.
Well, rarely, anyway. You can buy almost everything secondhand on eBay, Facebook Marketplace, Gumtree and more. If you are looking to make any big purchases, see what you can find second hand first.
Of course, it is nice to treat yourself from time to time, though!