If you haven’t seen already one of my spring goals is to save as much money as possible to purchase my own home. This of course comes with lifestyle sacrifices, which isn’t easy for anybody! Let alone someone who loves new clothes and weekends away…But I cannot wait to have my own place, somewhere that I can make my home.
I therefore decided to write a little review about 5 ways in which you could save money, whether you are saving money for a new car, that exciting adventure across the world or for your own first home. I hope you find my tips both useful, mindful and interesting.
My 5 steps to saving money
Setting up your own budget
Firstly, being able to establish what you are saving for, and how much you are looking to save is very important in your steps to saving. Setting a monthly budget will allow you to be more aware of your income and outgoings.
This will help to establish a realistic timeframe, when you can feasible reach your saving target. This could be a couple of months or over a few years, this would be down to your individual situation. The budget therefore will help kick your spending habits and make you more aware of what you are spending.
Cutting unnecessary spending will help to save your cash, and also will be more rewarding in the future. This leads onto my next saving tip I’m sure we are all culprits of this next step!
Preparing your own food at home
Eating at home is cheaper and healthier than going out for a meal or grabbing a takeaway! Try to encourage yourself to be more adventurous with your cooking, this will therefore make it more enjoyable and fun to do.
I love eating out and it’s definitely more of a social thing in today’s society, but I’ve really started to limit how many times I eat out a month, and noticed the savings I’ve made.
I used to be the person who’d buy lunches everyday for work, I didn’t realise at the time exactly the money I was “wasting” by doing this… even a £3 meal deal everyday equates to around £60 a month. Are you a lunch buy? Could this be a way of money saving for you?
Signing up to loyalty schemes
Most supermarkets and shops have their own reward schemes, from Sainsbury’s Nectar Card to the Boots Advantage Card. Each shop offers their own type of rewards whether it be points which lead to money off vouchers or discounts off purchases after you’ve spent a selected amount in your transactions.
I often save up my Boots Advantage points and then spend them on a new foundation or perfume, I feel this way I am able to benefit from the points I’ve collected and it’s a little treat to myself 🙂
Do you use loyalty cards? What are your thoughts on them?
Shopping around for cheaper providers
Checking comparison sites can be a great way to save lots of money, for example if you are renewing your car insurance head over to comparison websites such as; Compare the Meerkat , Go Compare or Money Supermarket which all help us everyday to find the best/most cost effective deal. When I last renewed my insurance in August my current provided tried charging me an extra £85 compared to the year before, eventhough I hadn’t claimed or changed any of my details. I headed straight to Compare the Meerkat entered all my details and another insurer could offer me an amazing deal… in fact £50 less than I paid the year before, what a bargain!
It definitely pays to shop around for the best deal! This also can be related to mobile phone contracts, via different service providers shopping around could land you with a better deal, with more data and paying less per a month… Shop around or look out for monthly deals instore.
Selling any unwanted items
Like me I am sure in your wardrobe oyu have clothing with the labels still attached, gathering dust! I often do this, I forget to return the item… Opps! So a great way of makign money is to sell these items which are unloved or unwanted, this could be anything ranging from shoes, clothing or house hold items. The best ways to sell your items:
Ebay – Although Ebay charge commission on each item which is sold, it’s a great way to sell clothing and shoes Ebay attracts a large number of customers/visitors worldwide therefore the items are open to a wide audience.
Gumtree – Excellent for bulkier items which are difficult to post, the buyer can easily come and pick up the item saving on commission and posting. This may not be suitable to all as I know some people would feel uncomfortable with strangers coming to their house.
Facebay – Similar to Gumtree, Facebays are targeted at local individuals who can easily collect their item eliminating the need to go to the post office to send the item and also being paid cash in hand could be an advantage to you.
Carboot Sales – I am sure you have attended one in your lifetime, whether it be on your own or with family and friends. Selling at a carboot sale is a great way to ‘spring clean’ your wardrobe and cupboards of unwanted items, buyers can easily see the items and you can make deals by haggling the price for sales. As a seller you would pay for your car, so why not team up with a friend, halve the cost and make lots of money and space!
I hope you found these steps useful. Good luck with your saving 🙂
I’d love to hear about how you save your money? And if you’d consider any of the steps above?