Committing to living on a budget is a challenge, as most of us know. But, as most of us also know, it’s becoming an increasingly integral part of daily life. When it comes to being economical and avoiding (or paying off) debts, the tricky part is knowing where to start and what natural adjustments can make a real and lasting difference. Below are 10 easy tips that can help anyone save money.
Energy bills
Research to make sure that you’re getting the best deal on utility bills by checking the free Energy Saving Trust’s home energy check tool on its website. Not only will it give you a fair estimate of what you should be paying, it can save up to £250 per household.
Light bulbs
They may not be the most attractive light source, but energy-saving light bulbs claim to give up to 25,000 hours of light compared to the 1,000 guaranteed by traditional light bulbs.
Direct debit
Spreading the costs of bill paying over a period of time can help prioritise direct debit payments around regular income and stretch out payments over a month. This will ease the end-of-the-month empty account panic.
Avoid store cards
The interest on store cards can be outrageously high and having store cards only tempts you to spend money on unnecessary items. This is especially the case when retailers send ‘special deals’ designed to entice cardholders into their shops.
Shop online
Goods bought online are notoriously cheaper than those purchased on the high street, particularly as many fashion websites offer discount codes. The option also gives you the time and the means to search for the best deals.
Share your commute
Car sharing to and from work is cheaper than public transport. You can also get to and from work quicker, freeing up a little more time at either of the end of the working day.
Review spending on internet and mobile service
Why is it that your friends always seem to be on a better deal than you? Take a look at your mobile phone and internet contracts and see if you could be getting a better deal.
Make plans
Forward planning is the most straightforward method to minimising leisure costs — making and sticking to a simple self-imposed cost plan will limit what’s spent at social events.
Cheap cinema
Most big cinemas have cheap days/nights and matinee tickets are always less than evening showings so consider going outside of peak viewing times.
Frozen food
The statistics about food thrown out per household are shocking. Buck this wasteful trend and save some serious pennies by purchasing frozen food. There’s no difference nutritionally, especially for fruits and vegetables, and you can buy larger amounts for less money.
While they may all seem obvious, these simple money-saving tips can truly make a difference to a household’s spending and the long-term benefits of these minor adjustments will reap a huge payoff (literally!).
Image by Got.Credit.com, used under Creative Commons licence
Thank you for the post! I have definitely noticed the high interest rates with store cards. I used to have about 4 or 5 store cards but cut them all after realizing their ridiculous rates. I like the sharing the commute one. I started car-pooling then I even started to ride my bike to work. And I’m getting healthier!