Wouldn’t it be great if we could all afford to buy everything we wanted, without any budgeting or saving whatsoever? While there are probably a few lucky lottery winners out there who have a life like that, most families find themselves scrimping to pull together enough money for a kid’s birthday party, or a summer holiday.
If you’re one of those parents who’s sick of running out of cash by the time the month is up – you’re not alone. There’s nothing fun about living from wage to wage – particularly when you have things you desperately want to buy. The good news is that we have a few simple tips you can use to save more every month.
1.Deal with those Debts
If you’re tired of paying off your loans every month rather than saving towards your dream holiday, now could be the perfect time to make a change. Nobody wants to have to face the stress of debt – but the truth is that most of us will end up taking out a loan for something at some point. Whether it’s a personal loan you tapped into to renovate your kitchen or a student loan you used to launch your career, you don’t have to let your debts weigh you down.
Reconsolidating your debts could be a great way to reduce the amount you spend every month. This is particularly true if you have a lot of high-interest loans, or you’re constantly forgetting to pay different debts, and paying penalties. Talk to your bank about your options.
2. Get Fit and Trim your Expenses
Have you been spending hundreds of pounds a year on a gym membership that you barely use in the first place? Many of us start the new year with good intentions, telling ourselves that we’re going to lose some baby weight, or get rid of extra pounds in time for bikini season. Unfortunately, when you’ve got kids to look after and a demanding career to work around, it’s not always easy to find enough time for visiting the gym.
If you’re looking to get fit and trim your expenses at the same time, get rid of the membership and look for other ways to buff up instead. Walking or cycling to work, for instance, saves you money on transportation costs and helps to burn calories too. It’s a win-win.
3. Stop Paying Retail Prices
If you want to cut down your monthly expenses, then one of the first things you’ll need to do is stop paying full retail price for everything. Most of us walk through the supermarket like zombies, never even stopping to think about whether we could save some extra cash on pop or pies. However, the truth is that with some extreme couponing, you could save as much as a part-time wage!
Get online and follow some couponing groups on Facebook or join supermarket loyalty schemes that allow you to save a little back every time you shop. Make sure that you print off any coupons you can find before you go shopping too.
4. Switch your Utility Providers
Most people are amazed at how much money they can save just by switching from one electricity or gas provider to another. A lot of families stay stuck in the same contracts for years because they simply don’t have the time or energy to go and find a better supplier. However, now that the internet is here to offer us countless comparison websites and deal sites, it’s never been easier to cut back your costs.
Get online and compare the costs of everything from your gas and electricity to your insurance, and more. In fact, you could even think about talking to a mortgage broker about switching your mortgage out to another lender when your term is up.
5. Stop Paying for TV – but Keep your Favourite Shows
Finally, in a world where you can access pretty much any movie or television show you like on streaming services like Amazon Prime or Netflix, it’s amazing that anyone continues to pay through the nose for premium television channels. Think about cutting your television subscription out of your package the next time you’re talking to your provider. What’s more, while you’re at it, it might be worth getting rid of your line rental too.
The chances are that you use your mobile phone for most conversations anyway, so if your landline is nothing but a source of spam, it’s time to get rid.