If you want to start saving more money, little and often is the key. Putting money away as soon as you receive your monthly pay packet ensures your savings receive a boost before you get the chance to fritter it away. But what other top tips can help you save more money? Here are 6 of the best.
We know it’s not easy, but if you’re struggling to save money but still smoking, it’s time to regain control. Smoking is not just putting a colossal dent in your finances, it’s also doing serious harm to your health. If you do stop smoking, you’ll also make a big saving on products like health insurance. Here are ten self-help tips to stop smoking from the NHS.
Organise a free overdraft
If you’re being charged by your bank every time you go into your overdraft, that can quickly add up to a substantial fee. Some banks impose harsh penalties on customers who slip into an overdraft they haven’t arranged in advance. Simply giving your bank a call or popping into a branch is usually all it takes to set up a free overdraft up to an agreed limit. From then on, only when your overdraft exceeds that limit will you be charged.
Get a better mobile phone and broadband deal
If you haven’t changed your mobile phone or broadband provider in the last 12 or 18 months, then you’re almost certainly paying too much. Almost all providers save their best deals for new customers. As soon as you’re no longer a new customer, you’ll see the price you pay will start to creep up. Shopping around as soon as your initial contract ends is the only way to get the best deal.
Think monthly and annually
Saving is hard, no-one likes doing it even though we all know the benefits. Like any challenge, it gets easier as we train ourselves into a new lifestyle. So do yourself a favour and stop thinking about ‘making it to the end of the week without buying a takeaway’. Take a more strategic approach that looks at your budget over months, quarters and years. Check out this guide on monthly saving strategies to help you get in the right mindset.
Don’t be duped by discounts
Discounts can be an effective way to save more money, but only if you buy items you need. Discounts on perishable items or items you don’t commonly buy tend to be a false economy because they so often go unused.
Always search for discount codes before buying ANYTHING online
If there’s something you want to buy online, always take the time to search for a discount code for that retailer. In many cases, you’ll be able to enter a simple code and save 10%, 15% or even more. That may not sound like an awful lot, but if it becomes part of your routine every time you make a purchase online, it’ll soon add up.
What are your best money saving tips? Please share yours with our readers in the comments section below.