The purse strings can always feel a little tight, especially at the end of the month. It’s important to set aside a little cash so that you won’t have any nasty surprises. Saving money can be easier than a lot of people think, and there are many options for doing so.
Remember, being responsible with your money and cutting out frugal expenses is always the best way to save. Try budgeting if you are really struggling to hold on to your precious cash.
With this in mind, we have pulled together five of the best tips for saving money. Try a couple of these, or all of them and see what you can save.
Save 15-20% Of Your Income Each Month
One of the best ways to build up your savings bit by bit is to transfer a set amount each month to a savings account. If your wage comes through at £2000 monthly, try and put aside between £300 and £400 per month. You will have £3600-£4800 by the end of the year! Not bad considering you still have 80-85% of your wage left to spend on expenses.
Get A Railcard
If you are a regular user of the trains, try a railcard. You can buy the railcard for £30 a year and save 1/3 off of your travel. Or you can buy season tickets which will end up cheaper than buying a ticket multiple times a week. You can get a 16-25 railcard for cheaper fares for young people. Or you can get the Two Together car that gets you and your travelling partner a third off.
This is becoming more and more popular among savers. Look through your local paper and keep supermarket flyers you get through the door. Sign up for discount cards and try and reap the benefits as much as possible. There are even American TV shows about extreme couponing where people try to get their shopping for an almost 100% discount.
Sell All Your Clutter
This is a staple in the money saver’s repertoire. eBay and apps like Shpock or Vinted are perfect for clearing out and making some cash. Buy cheap packing for your items on Amazon and send off all of your stuff to people all over the world. Ebay is especially good for getting people to bid and drive up the money coming to you.
Change Your Banking Provider
Many banks are offering rewards for switching. Some banks will give you up to £200 just for swapping over to a current account with them. Have a look and see what your options are and estimate what you could make by switching today.