There’s never a bad time to save money. When doesn’t a bit of extra cash come in handy? This is especially true if you are trying to reach big financial goals like saving up for a house deposit. The great news is, saving money can actually be really easy, especially if you take it one small change at a time. Here are 10 easy ways to save money to get you started:
Make Your Own Lunches
Regardless of whether or not you are grabbing a meal deal or lunchtime special offer at a high street restaurant, it is still going to cost you more than making your own lunch at home the night before. Even better, you could make a week’s worth of lunches up on a Sunday evening to save time. Find inspiration online so you don’t have boring sandwiches every day.
Send Some Of Your Earnings Straight To A Savings Account
You can’t miss it if it was never there right? Work out how much you can afford to save each month and set up a direct debit to get it sent straight to a savings account. Saving without any effort.
Make Financial goals
Making financial goals is a great idea so that you have something to aim for when saving. Think about long term financial goals, even ones that are years away and figure out what it will take to get there, including smaller milestones along the way. This might include consolidating loans or using guarantor loans to reduce their overall cost if you have a family member willing to act as the guarantor and help cut your interest rates.
Budgeting sounds so drab but, it can really help long term. If you figure out how much you would like to save by a certain date, and then figure out how much you will earn until then, you then take out all bills and then things like birthday costs, food shopping and other variable costs can be budgeted. This really helps you stick to a certain budget and avoid overspending on luxuries like holidays, eating out and birthday and Christmas presents. Don’t be one of those people who has to find a loan just to cover the cost of Christmas.
Drink More Water, Avoid The Takeout Coffee
If you buy a takeout coffee once every work day all year, give or take around 2 weeks off, you could be spending as much as $1,000 on coffee that year! Try drinking more water and avoiding the takeout coffee at least a few times a week. Water is great for the brain so you will benefit from the change. If you’re that desperate for coffee, make your own up in a flask and take it to work, or make one in the office kitchen. You could even try cheaper hot drink alternatives like green tea, which hydrates, gives a caffeine boost and has health benefits.
Shop One Brand Down At The Supermarket
A really good way to save money at the supermarket is to opt for a brand or two down. Often we believe that we could only cope with a certain brand, when in fact the next cheapest option is just as good. In some cases the product is the same but packaged differently. Try the cheaper option at least one week and you’ll be surprised at how at least some brands are tasty enough for you to buy again, all whilst saving money.
Buy What You Need Not What You Want
Take advice from the richest people in the world and buy what you need, not what you want. Whenever you think about splashing out on a purchase, stop and think about whether or not you really need it. If you know deep down you don’t, pop it on a birthday or Christmas wishlist and stop yourself buying it.
Change Your Transport
Can you cycle or walk to work? Could you get the bus instead of driving? There are usually ways to cut down on the cost of your daily transport. It might take more effort, but if you cycle or walk instead of drive you could save money and get fit at the same time.
Cook At Home Rather Than Eating Out
Why not learn to cook at home? Eating out costs a lot of money. There’s nothing wrong with using the odd coupon and BOGOF to get a good deal, but otherwise, why not invite friends or family round to you and cook at home. You could even do a twice monthly Come Dine With Me or similar so you’re all sharing the experience.
Buy In Bulk
Often the more you buy of something the cheaper it is. See if there is a local programme near you where everybody puts money in to buy large bulk amounts of items.
Remember, although you might be in the habit of thinking you couldn’t save money with your current habits, there is always a way to adapt things to cut costs and make your bank balance healthier.