Saving money is always a good idea, however, it’s not always something we can do!
Whatever you are saving for, here are our 10 top tips on how to save money…
We’re all guilty of it, but we can often buy stuff on a whim. Avoid the instant gratification of buying things by learning one of the most important rules of personal finance, the 30 day rule.
This simply means waiting 30 days to decide if you still want that item you were going to buy, if you do then great we’re not stopping you. The bonus is that you’ll enjoy your purhcase even more once you finally get your hands on it.
However, what we often find is that once the month has passed, so has your urge to buy that product. If you are undecided about an item anyway, waiting a while can give you a better view on whether it’s truly worth the money and if you really need it.
Do a spring clean (even if it’s the winter) and go through your wardrobes and cupboards and get rid of anything that you no longer use or need.
However, we’re not saying that you should then just throw it away or recycle it, but why not sell it online and get some money back for the stuff you no longer use.
Better still, if you find something that you’ve never used, why not consider giving it as a birthday gift to someone who might like or find a use for it. That way you are saving yourself time and money trying to find a birthday gift. We’d call that a win win.
If you don’t already, then use price comparison sites. Price comparison website’s can be used for anything and everything. Even googling the most basic of products will show up a variety of options from different shops at different prices.
For the bigger ticket items, use price comparison sites that not only will compare the price, but also what each product can offer you. This makes sure that you get the best value for money in everything you buy.
We would always say to do your research before buying anything that involves a lot of financial commitment. For example, we would always advise you to go on a test drive before purchasing a car as you should know exactly what you are buying.
When researching, also have a look for discount codes before purchasing to see if you could save that little bit extra.
It’s so easy to buy things we don’t need online when your card information is just there in a moment. Remove auto fill and any previously saved card details and you’ll find that more thought goes into what you buy online.
You’ll also know if you really want to buy something, as you’ll be forced to make the extra effort of finding your card and typing out the long number every time. If you can’t be bothered, then you clearly don’t really want or need what you are buying.
Don’t be put off by supermarket own brands. Buying their own basic and budget ranges can give you some serious savings. Better still, supermarket own brands have often come out top in taste tests. Give them a try and we think you’ll be pleasantly surprised.
There’s a maximum test fee of £54.85 set by the government for a car MOT, but service centres often run deals on MOT’s. Have a look around your local garages including the big names, to see where is cheapest in your area.
To avoid a bad experience with a mechanic or garage, we would always recommend you choosing a garage that has been recommended to you or that has good reviews.
There are a few websites out there that can tell you where you nearest cheapest petrol station is. There are many to choose from that will give you all the information you need, such as Petrolprices who even have an app that you can download onto your phone.
You can also check out the petrol stations on your daily commute or the area where you live to hunt out the best prices to fill up.
Depending how far you drive, commuting can cost you a lot of money. Consider joining a car share scheme to get to work. You share the driving with one or more people and it cuts the costs drastically, as well as any damage your car might face on the drive. According to liftshare.com, sharing a daily commute could save you more than £1,000 a year!
If you are a regular buyer of coffees, water, smoothies, sandwiches when you’re on the move, then consider making these yourself. It’s nice to treat yourself once in a while but consider investing in a travel coffee cup or cooling water bottle to save yourself some money.
Even purchasing a smoothie maker, which might seem expensive at the time, will save you a lot of money in the long run!
Deals such as buy-one-get-one-free or other discounts can be great and seem like they are saving you money, but be careful and only buy items you actually need and will use. Don’t be tricked in to trying something new or perishable just because it’s cheaper. You could end up wasting money.
Discounts however, are great for goods that can sit in your cupboard forever that you know you will eventually use, like toothpaste or toilet roll.