The new year is almost here, and for many of us, that means it’s time to start thinking about personal changes and new year’s resolutions. One of the most common resolutions that people make in the UK, is to spend less and save more.
Although this might seem like a simple enough goal, figuring out how to manage your finances better isn’t always as easy as it seems. The good news? We’ve put together some helpful tips that you can use to spend a little less as you move into 2020.
Make a List
Whenever you go shopping for food and everyday essentials, the best thing you can do to help yourself spend less, is to take a list. A list will keep you and your loved ones on track as you wander around the supermarket being enticed by everything you see on the shelves. If you want to go a step further, you can even use the internet to find out how much each item will cost, then take only that amount of cash with you to the shop. You’ll have a hard time spending more than you meant to if you only have a certain amount of money with you.
Make it Easier to find Discounts
Just because most people don’t clip their vouchers out of newspapers and magazines anymore, doesn’t mean that they’re not using them. The digital world is full of coupon codes and hidden savings that you might not be aware of. One easy way to find more discounts is to follow your favourite brands on social media or sign up for their email newsletters. If you don’t want to clog your inbox up with too much advertising, then you can always create a separate email address just for messages from other brands. That way, you’ll never miss out on a sale.
Do More Comparison Shopping
Rather than just accepting the first price that you see for an item online, save yourself some cash by comparing that offer with other deals from different vendors. More often than not, you’ll be able to find a cheaper version of the same product elsewhere. Comparison shopping works for everything from big-ticket purchases, like new televisions, to when you want to cut the costs of your electricity and gas bills by switching providers.
Get Paid to Spend
You’re unlikely to become an overnight millionaire when you start using cashback websites, as you only earn a very small amount of money every time you buy something. However, if you’re going to be purchasing those products anyway, then it makes sense to get a little money back wherever you can. Look into cashback websites that work with your favourite brands and sign up for a free account to start developing your savings. Some companies will even let you fill out surveys for extra cash.
Save as a Student
Did you know that you can still get a student card if you’re not in full-time education. If you’re taking certain courses online, that still counts towards getting an education. This means that you can sign up for NUS extra cards and other accounts that give you immediate discounts on everything from your music streaming services to the price of your rail travel. Have a look online at the kind of courses you can sign up for to get started. Remember, learning something new could help you to earn a better-paying job too!
Assess Purchases According to Value
When you’re deciding what to buy in 2020, don’t just focus on the immediate price tag. Ask yourself how much value you’re going to get back over time. For instance, if using your emergency savings on a £300 car is going to lead to £3000 in repairs bills, then it makes more sense to take out a £3000 loan straight away. Think about how you can get the most out of every purchase and avoid making any big-ticket buy too fast. If you’re planning on spending more than £50, give yourself at least 24 hours to think it over.
Ask for Help
Finally, visit your local citizen’s advice bureau and find out what kind of extra help you might be eligible to. There are plenty of forms of financial support available out there today, as long as you’re willing to look for them. You may be able to cut the costs of your heating bills, or reduce your council tax expenses just by filling out a form.
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