Feeling worried about money is extremely common and it can have a huge impact on our lives and happiness. Yet, there are a few extremely simple things you can do to reduce your outgoings, save more money and feel in control of your finances. You won’t notice much of a difference in your everyday life, but you should be able to save a lot of money.
Cut Down on Weekly Food Costs
One essential outgoing is your weekly food shop, however there are some handy ways to reduce the cost. Firstly, you must go with a list. Sit down in advance and plan your meals for the week and only buy the ingredients you need. Not only will this reduce the cost of your shop, but less food will go to waste and you’re less likely to need to pop to the shops in the week for extra bits and pieces.
Next, buy a few treats to satisfy any cravings you might have for takeaways. If you buy a couple of frozen pizzas and Chinese takeaway meals, you should be less likely to order a takeaway which will save you so much money over the course of the month.
Finally, try to cut down on non-essential products where possible. For example, rather than buying fresh mangos and bananas for smoothies, buy a frozen smoothie mix which is far better value for money and it will last far longer! For those of you who are health conscious, rather than buying five or six different vitamins and minerals, buy one pot of multivitamins. These small, simple changes will soon become a habit!
Look For Price Comparisons on Everything
You don’t need to assume that the cost of some of your ‘fixed’ outgoings such as bills, insurance or phone can’t be reduced. Go onto a price comparison website and input your requirements and you will be faced with so many different options. You might end up getting far more for your money by investing just a bit of your time.
Another tip is to call your existing provider and tell them the other deals you have found online. They might offer you reduced prices and you won’t have the hassle of changing providers!
Consider Savings as Essential Outgoing
When creating your budget, one way to easily save money is to assign some of your disposable income straight to your savings account. Often savings are considered as a bonus if they can be afforded, yet the money almost always will get spent on other things.
At the beginning of the month, set up a direct debit to send a specific amount of money into your savings. You will notice that you reach your savings goals so much quicker than if you just put money in the savings account when you can. You may think you will miss the money each month, however you are more likely to spend your money on things you really need and reach your financial goals quicker with your increased amount of savings.
Without making major changes to your lifestyle, it can be simple to save significant amounts of money when you are careful with your spending. Taking a bit of time to plan and research alternative services will give you the opportunity to reach your goals quicker and invest your savings sensibly.