5 Simple Ways To Save Money

Saving money is helpful all year round when saving for a new car.

After challenging times of lockdown, layoffs, and changing circumstances, more people than ever are trying to reduce their spending and improve their finances. This may sound an overwhelming task at first — but it doesn’t have to be!

With the quick and simple money-saving tips below, you can make the most of your money — whether that means saving it for the future, or enjoying a more comfortable day-to-day routine.

  1. Meal Prepping

Many of us are short on time. With a busy working schedule, social life, and family commitments, meal prepping can be the last thing on your mind. But did you know that it can actually save you both money and time?

In just an hour or two per week (with a favourite time for many families being on a Sunday), you can prep many of the week’s main meals in advance. Blogs and online video platforms such as YouTube often have helpful tips, meal suggestions, or even cook-a-long videos so you can’t go wrong!

Simply start by listing the meals you would like to have that week, and shop specifically for them. Using meals with several ingredients in common can be another helpful and cost-effective timesaver.

Alternatively, you could start by going through your cupboards and refrigerator, building meals from what you already have, then buying the extras with your shopping.

Meal prepping can save time in the evenings (as prepped meals can be quickly reheated), reduce waste, and prevent overspending on things like cafeteria lunches or eating out – so why not give it a try?

  1. Maintenance

Whatever equipment you use for work and for home, it is more cost-effective to ensure the items are properly serviced and maintained than it is to pay for repairs when the mechanisms fail. This extends to cooking appliances, computers, electronics, and more.

Even the car you drive for work or pleasure should be kept in good working order, or you could risk being hit with a hefty bill. Equipment could stop working — needing an urgent replacement which could cost you more — or your car could fall into disrepair and fail its MOT.

Neglecting to have important items maintained may seem to be saving money, but it could cost you significantly more in the long run. Regular maintenance helps to spot small problems before they have the chance to become major issues!

  1. Price Comparison Sites

Using a reliable price comparison website can help you to get the best deals on a range of products and services.

Whether it’s for your mobile phone, gas and electricity bills, water supplier, or various types of insurance, you could be losing money simply because you are not with the best provider!

Set aside some time to assess how much you’re spending regularly on these areas and then shop around online. If you’re planning to leave your current provider, sometimes they will offer you a better deal — or there might be money-saving incentives and discounts for those who switch!

Providers need to remain competitive in a crowded marketplace, so there are often deals, discounts, and better offers available online.

  1. Create A Budget

This may not immediately seem like a money-saving tip, but studies show that one of the main reasons people waste their money is because they are simply not conscious of how they spend it! Having a budget in place will help to avoid this.

There are a number of websites, software tools, and apps that can help you to set up a simple budget. Alternatively, you can go analogue!

Simply start by writing down your income(s), regular outgoings such as bills and rent, and see where savings could be made, or changes need to happen.

Spending a bit more time reading up on how to do this effectively, or purchasing an app to help you with it, can be a real investment in your financial future, and how in control of your finances you feel.

  1. Loyalty Cards

Do you have places that you regularly shop? Find out if there are loyalty cards, members points, or discounts available, and sign up.

Loyalty cards can be one of the easiest and most regular ways to save money. And when you go out shopping, don’t make the mistake of leaving your loyalty card behind at home! But if you do, be sure to keep your receipt to collect points, or even download any available loyalty apps, so you can do it digitally.

With these small but impactful changes, you could start saving right away and make your money work harder for you!