Money Saving Tips for Making Your Money Go Further
Savings. It can sound like a dirty word nowadays, with most people saying, “what savings? I don’t have any spare money to have any savings!”
However, there are some things you can do to stretch your pennies that little bit further, maybe you won’t see it as savings, but certainly you will notice that you will have less month at the end of your money than you have had before!
Here are a few ideas to help you along the way
Reducing The Cost Of Running A Car
A car can be one of the biggest headaches you will have, what with MOT, tax, insurance, breakdown cover, servicing costs and the huge cost of fuel just to get anywhere in it. There are a few costs that you can be in control of and it’s worth looking at these to see what you can save.
- Always review your car insurance every year, it pays to check out the comparison sites as one of my friends has just saved over £600 on her insurance just by switching companies.
- Also try to use your car less where possible, maybe you could cycle to the gym or walk into the village instead of taking the car, it will save you fuel costs and wear and tear on the car.
- Keep an eye on when your MOT is due. Not all garages charge the same. A lot of people forget and then panic just before it runs out and they phone the nearest garage to get it done. Sometimes these are the most expensive garages and with some planning, you could have saved money on your MOT and any repair work that needed doing.
- Check out your local petrol stations; make sure you know who is the cheapest and get your fuel there.
Reducing The Cost Of Credit Cards
These are a real drain on your finances. Their interest rates are massive and it is always tempting to use them if you want something straightaway instead of saving up for it. Two things you can do:
- Always keep an eye out for 0% interest on balance transfers and make sure that you switch so you stay on 0% as you pay off the balance.
- Keep your credit card under lock and key or give it to someone you trust to lock it away so you can’t use it!
Reducing Your Food & Drink Bill
Forget the hype of going to Aldi for a moment and think about your daily habits. Do you buy a coffee on the way into work in the morning? If you stopped buying that daily coffee and made your own to take in instead you could save yourself on average around £12.50 per week!
Reduce The Cost Of Filling Your Wardrobe
What can I say? Why pay full price, when you can bag a bargain in the sales or even do some charity shopping. There are some great offers online and even in the shops at certain times of the year. Go to some upmarket towns and you can get some great brand names in the charity shops for next to nothing!
Lower The Cost of Gym Membership
So you are paying a monthly fee for a gym that you have been to twice and that was six months ago. Stop your direct debit now and look for a gym that does pay-as-you-go. Or, don’t go to the gym at all and go for a walk, jog, run or cycle? You are still giving yourself the benefit of exercise without the fees attached. If you like running then register for Park Run, a national organisation that organise free runs in your local area.
Managing Your Children’s Birthday Budget
Why do parents act like it’s a competition to see if their child has the best birthday party in the class? Apart from being stressful, this can get rather expensive especially when you decide to invite the whole class.
- If you are going to invite the whole class, choose a hall or somewhere that doesn’t make you pay per child and then decorate it yourself.
- Save money by doing the food and the party bags yourself.
- My friend’s daughter fancied the cinema, so she found out that VUE do £1.50 per person (including adults) on a Saturday morning. You can’t choose the film until the week before, but you will get a reasonably up to date movie. So factoring in a McDonalds afterwards made it a cheap birthday party for her daughter and the 5 friends she allowed her to take! Her daughter said afterwards that it was the best party she’d had – result!
So, think of some of the changes that you could make and how much money that would save you per week. Then put that amount away each week into a savings account and watch it grow – maybe you could afford that holiday next year!
If you found this article useful, click here for Budgeting For School