No matter where you are on your financial journey, it is important that you know where exactly your money is going and what you are spending it on. When you analyse this, you will probably be shocked by what you find! However, there are many ways in which you can save yourself some pennies, which, as we all know, adds up to pounds. Carry on reading to find out our favourite, simple ways in which you can save money.
Keep an Eye on Unnecessary Spending
Check all of your outgoings. That subscription – do you actually use it? That gas and electric bill – can you cut it down? Also, check what you are entitled to – are there grants or benefits that you should be getting? If you are a single person household, you may be entitled to a council tax discount. Landlords might be exempt from certain things as well – it’s worth looking in to how to avoid paying council tax.
Move Bank Accounts
There is a common misconception that switching bank account is a stressful process that takes a lot of time and effort, however, this really is not the case at all. In fact, moving banks is a great way to bag yourself extra perks and save money while you do so. This money saving can come in the form of better interest or moving offers such as a cash reward or vouchers – all of which can save you money!
What’s more, if you are paying a monthly fee for your bank account, it is definitely worth researching other banking options out there. Why not check out BBT.com? This fantastic bank offers a range of great credit and debit cards with great interest rates. What’s more, they also have a rewards card in which you can get up to 3% cash back on!
If we are being truly honest with ourselves, we are all guilty of spending money on items that we really do not need. Instead of collecting items, even if you believe they will be worth more in the future, it is a good idea to instead make money by selling your items instead. These funds can then be put towards other financial goals that you may have.
Sign Up for Customer Reward Programmes
Now on the high street, it is extremely common for retailers to offer you rewards for shopping at their stores and this can quickly add up to save you lots of cash next time you shop there. However, it is important to remember that you shouldn’t be spending cash unnecessarily just to collect points as this defeats the purpose of trying to find ways to save cash.
Master the 30 Day Rule
Have you heard of the 30-day rule? If not, this may be where you are going wrong when trying to save money. The 30-day rule is a very important rule when it comes to finance and essentially this just means that you will have to wait 30 days before deciding on making a purchase. For many of us, we tend to shop and spend money on things that we do not really need for that instant gratification. However, if you have to wait a month, you will tend to find that the urge to purchase a product has passed and this will then, of course, save you money! Plus, if you are on the fence about purchasing a product, this is normally a good indication of whether or not you think it really is worth the money.