Small Lifestyle Changes That Can Save You Money

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save money

It is becoming more difficult to make your money go further, which is worrying for many of us that may be struggling to free up cash flow or find the funds to pay our bills. There are a few ways that you can improve your financial situation, and save some money, from creating and sticking to a budget, cutting back on nonessentials and learning how to cook. Read on to find out more about lifestyle changes you can implement to reach your savings goals.  

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Stick to a budget 

When it comes to saving money, one of the first things to do is make a budget. Take the time to get to know your income, as well as your monthly outgoings so you can decide if you are spending in areas that you could cut back on. Work out your monthly expenditure on essentials, for example, mortgage payments or rent, food bills and other necessities – you could also include savings in this too, to allow you to build up a pot each month. 

The money left over is the money you must spend on your secondary expenditure, so things like going out to eat, clothes and other items that you like, but could live without. This will help you to identify how much money you have left over from your income after you’ve paid your primary bills. If you don’t have a lot left, you may look at cutting back certain bills where you can, or if you do, you could choose to save more. 

Compare before you buy 

Comparing prices on anything from insurance policies to broadband providers is simple and can save you an extra bit of cash on your bills each month. If you’ve been with the same provider for a while, it can be tempting to stay with them because it’s easy. However, when your contract is almost up, or if you think you’re paying too much for a service, taking the time to shop around can be beneficial.

If you change internet providers, for example, new customers are often offered a deal, with more savings to be made in the first few months, so doing some research before renewing a contract can have a positive impact on your cash flow. 

Learn to cook 

Learning how to cook means less eating out and fewer takeaways. When trying to save money, these are both things you should look at cutting back on, as they can save you a huge amount of money monthly. By learning to cook, you can prepare meals that can last you all week – which is healthy and cost-effective too. You can simply make a batch of lunches or dinners and freeze them, ready to take out of the freezer and pop in the oven when you get home. This will also save you from making spontaneous trips to the supermarket for food you don’t need and reduces waste. 

Cut back on unnecessary spending 

Once you’ve worked out a budget, this will be easy. Cutting back on things you don’t really need is one of the most obvious and easiest ways to save money. For example, if you’re paying for a gym membership that you don’t use, cancelling it can save you a bit of extra cash. If you buy a takeaway coffee every morning or eat out when you have food at home, cutting back can help you save more money than you think. You could try making a coffee at home to take with you on the go or trying some new recipes. 

Automate savings 

When it comes to saving money, not having to think about it can be a load off your mind. When trying to stay consistent, creating a direct debit from your current account can be advantageous so that you don’t have to remember to move money to your savings each month. Your savings pot will eventually build up over time, no matter how large or small the amount. Scheduling this monthly and counting it as part of your outgoings means you won’t even miss it! 

Walk 

Owning and running a car can be expensive when you add together fuel costs, insurance bills as well as car payments and services. If you’re struggling with your cash flow, it could be worth considering if you could manage without a car. If not, you could look at whether you could walk for shorter journeys to save on fuel or take public transport or trains for longer journeys to save on petrol costs. Walking more often means you can save on fuel, but it also means you can take advantage of the health benefits that walking has to offer. 

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