30 Best Money Saving Tips

The Best Money Saving Tips

Saving money won’t make you rich but it’s nice to have money when you need it. And probably even afford your dream car or dream holiday. So Welcome to our latest post on the best money saving tips to make your complicated life a little easier.

Are you looking to save some money but not sure where to get started?

If you answered yes, then you’ve come to the right place. Saving money is not as hard as you may think. We have listed 30 of the best money-saving tips for you to check out the various ways you could become a secret billionaire.
Nah, we’re just kidding.

 

1. Credit Card Debt – Your Poison

best money saving tips

We all are guilty of credit card debts and let’s admit it. It’s tempting sometimes to buy things that we cannot afford. It may provide you with some gratification in the present, but debt hinders the process of saving money.The high interests cause you to pay off much more in the long term while keeping you in debt for a longer period of time.

If you want a debt-free life, pay off your debt on time and live within your means.

2. Hop on The Budget Train

best money saving tips

Stick to a budget no matter how hard it may seem in the beginning, a well planned out budget will restrain you from making unwanted or unnecessary purchases.

Create a budget according to your income where a certain portion of the money, for example, 10 per cent of your salary should be allocated to savings.

3. Leave Your Cards in the House And Carry Cash

best money saving tips

We are less conscious of our spending when we use cards to make payments. Sure, it is convenient to go cashless but you are also saying goodbye to money without realising how much.

Get into the habit of carrying cash with you and keeping the change. This way you will learn to pay attention to what you’re spending money on and end up making less unwanted purchases every time.

You might have to pay more for card payments where spending your cash could actually save you some extra money. That’s like throwing your money away and we’re sure you don’t want to do that.

4. Work Out in Your Living Room

best money saving tips

Going to the gym is fun, you put on your gym wear, pack your bags and drive to the gym.
Except that you are actually spending a lot more in the process that you could easily eliminate from your lifestyle.

The hefty price of a gym membership, the expensive gym wear and the fuel wasted to drive to your gym all adds up.
Why spend on all of that when you could workout at home? Youtube is a great source for fitness videos to help you get started.

5. Let’s Not Spend on Weekends

Best Money Saving tips

Weekends are tempting for spending lots of money, and are a great time to hang out with your friends at a new trending place in town. Maybe you always go on a trip or on a shopping spree.

It’s time to switch up your routine and enjoy “no spend” weekends where you’ll use your weekends to get creative. Ask your friends to come over to your place instead of going out.

Visit the art gallery, binge watch an entire show along with friends or alone, go for a picnic, wash the car, enjoy your time without spending so much.

6. Emergency Fund to The Rescue

best money saving tips

Saving money for a rainy day is not an option. It’s a necessity. What will you do if your roof needs repairing? or the car breaks down?

Whether you earn a little or lot, having an emergency fund will help you during unforeseen circumstances and save you from taking out high-interest loans.

7. Use Smart Apps In Your Money Saving

best money saving tips

A personal finance app can help you keep a record of your spending and let you have accurate data of where you spend the most. This is one of the best money saving tips we can give you. That way you could control your spending habits.

There are various free apps that you could download on your mobile. Get one to make your journey to saving money easier and efficient.

8. Are You Smoking Away Your Money?

best money saving tips

Why would you enjoy spending on a slow poison that will reduce your life expectancy and decrease your earnings significantly every year?
Smoking is not only hazardous to your health but also to your finances. a 40 a day habit could cost you £100’s each month, meaning that you will spend into the £1000s every year just on cigarettes.  Is it worth it?

Quitting smoking can be hard to start with, but if you are determined to save money and your health, consider ways to get rid of it.

Keep scrolling for the best money saving tips to make life a little easier for you

9. Aim at Your Goal: Long or Short

best money saving tips

Have a specific amount of money in mind that you would like to have saved instead of some vague number.
The goal is to stay motivated towards a realistic target and work in steps to reach the goal. Create two individual plans, a short term plan, and a long term plan.

10. Find Scissors and Cut the Cables

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Don’t cut them with scissors please but chances are, you are regularly paying a good sum of money for channels or altogether the cable connection that you don’t even watch.

Remove the unnecessary cost per month and you’ll be adding more to your savings account. If you must keep the cable then only pay for the channels you watch or set your billing accordingly.

11. Goodbye Subscriptions

best money saving tips

You have signed up to too many subscriptions? and all of those deduct a certain amount of money from your account without you even realising?  If that’s the case then it’s time to take action and cut out all sorts of subscriptions that you don’t need or make the best use of.  Magazines, gourmet food. They all build up over time and contribute to your overall monthly debt. Consider cancelling the ones you don’t need and putting the money you would have spent into your emergency fund. #the best money saving tips

12. Holiday Shopping Reinvented

Best Money Saving Tips

Do you know what’s the best time to go on shopping? Right after the big holidays. Because that’s when you get the biggest discounts and offers. So this simple money saving tip is to stock up on products that you could use for the same occasion next year.

But make sure you make a list of what you need to get because you shouldn’t be overspending.  If you don’t need it, don’t buy it

13. Don’t Be a Hoarder

best money saving tips

Decluttering is a form of therapy that allows you to feel organised and destressed from hoarding things that you don’t need. Don’t let the weight of unwanted items burden your home. Turn to a minimalistic approach for your lifestyle.

Gather items that you no longer use but someone else could benefit from. Set up a garage or backyard sale.
Or put them on free listing websites such as Gumtree or Freeads.co.uk to sell them off at a fraction of the price.

That way you will not only be earning extra cash that you can save but also feel more organised in your life with fewer possessions.

14. Choose Second Hand Wisely

Best Money Saving Tips

Similarly, get into the habit of buying used products for half the original price and in mint condition. Along with saving money, you will also be contributing to less waste for your environment.

Just make sure to check the product’s authenticity and usability before making the final decision. Furniture and clothing are really good products to buy in charity / thrift shops, along with online sites such as ebay and gumtree

15. Hobbies Don’t Care About Your Money

Best Money Saving Ideas

Having expensive hobbies will not only hurt your bank account but also leave you feeling empty, because hobbies have seem to cost a lot of money these days. You could take up simple and cheap hobbies that will not only make you feel good but also help you save some much needed cash.

You could start gardening in your backyard, learn to bake deserts, begin writing or reading good books, go hiking, learning a new language online, do some volunteering and the list goes on.

16. Be The Fixer Upper

Best Money Saving Ideas

You may not know how to fix everything on your own but it won’t hurt to give it a try if you are trying to live a frugal life. With so many helpful and informative resources available online, learning how to fix things by yourself is just a few clicks away.  Besides, what else do you have to lose?  You will be learning a new skill that you can be proud of. Plus it will be fun to try.

So get creative and invent a DIY that is a solution to minor issues.

17. Quality Versus Cost

best money saving tips

One of the most important things to realise is that saving money doesn’t always mean buying the cheapest option that is available. Getting a product that is good quality will last you a longer time than something half the price but needs frequent repairs or repurchases.

For example, buying a £10 headphone may be your go-to solution for the present need compared to a £40 headphone.
But the cheaper headphone will eventually stop working so you will keep repurchasing 6 more headphones and spend more on commuting to which eventually costs you more.

Scroll down for some more of the best money saving tips we have to offer

18. Time to Unsubscribe

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A new promotional mail from your favourite retailer may entice you into making an unplanned or sudden purchase just because you felt like it was a good deal. However, it’s important to realise that every promotion or sale doesn’t need your attention. Think of it in this way: You’re not saving £5, you’re spending the £15 that you could have saved instead.

So, unsubscribe or keep a separate account for retailer emails.

19. What is The 24-Hour Rule?

best money saving tips

When we see something new and shiny, we get an urge to buy it.  Owning provides us with a form of gratification. But do you know how to differentiate between a need and a want?  If it is not a necessity then adhere to the 24 hours or 30-day rule depending on the cost. The more expensive the product, the longer you wait to buy it.  Once you hold back and give yourself some time to think over the product you can then proceed to make the purchase. Try this when thinking about that new car, or new outfit.  It really does work

Through this method, you will lessen the chances of spending on unwanted items.

20. Grocery Shopping is Fun!

Money Saving Tips

Did you know that the majority of our earnings are spent on food and grocery? Spending wisely on groceries can save you a lot of money every month that you could put away to your savings account. Or even your emergency fund. Before you head towards the grocery store, visit your pantry, fridge and cupboards and make a list of all the things you will need to stock up on.

When you’re done with that, grab some leftovers or snacks before heading out. Grocery shopping on an empty stomach will prompt you to spend more on unhealthy snacks.

Once at the grocery store, buy the freshest fruits and vegetables according to your consumption.  Don’t buy more if you’re going to throw them away later.

For laundry and cleaning products, buy in bulk to save more. And yes, don’t forget to use cash.

21. Home Food is Good Food

best money saving tips

Are you grabbing lunch from the cafeteria or a food chain near your work regularly? This habit is actually causing a dent in your pocket.Spend a day of your week to plan and prepare lunch that you can pack for work every day.
You will not only be consuming healthier food but you will also save a lot of money every month.

22. Say No to Eating Out

best money saving tips

Everybody loves fine dining and enjoys delicious meals without having to put effort. But eating out regularly is an expensive habit to adopt and if you are looking to save money, part ways with your habit of dining out.  That does not mean you have to restrain yourself from the pleasure completely.  Treat yourself to a good restaurant once a month.
Preparing your meals at home will not only help you significantly in your mission to save money but also allow you to explore the joy of cooking.

Plus, if you are health conscious,you can also save on the calories too.

23. Small Sweet Home

best money saving tips

One of the largest portions of our earnings is spent on rent. Living in a bigger house will not add value to your life.
If you live alone or with a spouse, it’s a wiser decision to move to a smaller house. Locations play an important role in this case. Instead of living in the city, try to move somewhere cheaper on the outskirts.

Downsizing your home to save money is becoming increasingly popular, and just think what you can do with all of the extra money.

24. Commute the Cheap Way

Money Saving Ideas

Using a car to commute or travel on a day to day basis is convenient. But the cost of maintaining a car, the cost of the fuel and parking is the money you’re losing for a comfortable lifestyle.

Try taking public transport to and from work. Instead of driving, you could use the time to listen to a podcast, read a book or just watch a video on your way to work. Plus it’s more relaxing,  let someone else drive you around, this will allow you to get into work less stressed, which in turn will make you happier and more productive.

25. Lower the Phone Bills

Money Saving Ideas

You could easily cut down on your monthly phone bills if you take the time to customise your package and pay only for services that you use or need. This is one of the best ways to save money, as the savings can be substantial

Also, check to see which network service providers in your region offer the best services for a very affordable price. Communicating shouldn’t cost you so much.

26. Jingle Bells to Fund

Money Saving Ideas

Christmas is the most exciting time of the year and we all love giving gifts. While most of us tend to buy gifts at the very last moment, we end up spending a lot more than we can afford to sometimes. And what could be worse if you run short of funds?  Begin to save for Christmas well ahead of time. Collect gifts before the season to save some money and remain prepared to enjoy the occasion and not worry about finances.

27. Travel To Explore, Not to Spend

Best Money Saving Ideas

Most people tend to avoid travelling to save money but if that is something you won’t like to leave out, then don’t worry.  You work hard, so treat yourself.  But plan it properly.  You could save money even when you travel. Do your research for the trip. Try to plan your holiday during the off-peak time. This time of the year will have fewer visitors, at it will of course be cheaper.  Lookup for various offers online to get a discount on your trip, and where possible look to book your travel and accommodation separately, sometimes it is significantly less expensive than package holidays.

Choose Airbnb instead of an expensive hotel room to minimise expenses as much as possible. Your travel experience is what matters the most, not the rooms you stay in.

If you go away, set yourself a daily budget. If you don’t spend the full amount of money that day, save it and use the total to pay your deposit for the next holiday.  Or alternately, save it for a short weekend break further on in the year.

28. Staycation is The Trend

best money saving ideas

And if you have chosen to ditch the idea of a vacation, you could still enjoy a staycation! Just as interesting as it sounds, the idea is to explore wonderful locations in your country or near you.

You will get a chance to know more about the place you live in and admire the beauty of your homeland.

29. Let’s Make Some Cash

The Best Money Saving Tips

Working from home is a tremendous opportunity to make a side income if you have the time for it.  Use your skills to get a freelance gig online and get paid to sit in your pyjamas.  Some of the freelance platforms to check out are Upwork, Freelancer, Fiverr, Peopleperhour etc.  And with this extra money, be sensible and save it for your emergency fund.  The bigger the fund gets, the more peace of mind you will have, and the less stressed out you will be.

30. Water You Drinking?

The Best Money Saving Tips

It’s a no-brainer that water is good for our bodies. Take the necessary step to carry a water flask with you wherever you go and save your money from spending on bottled water, caffeinated beverages or soda at restaurants.  Try to mix it up a little by adding some fruit from your fridge,such as lemons, limes or strawberries.  And in a flash you have made your own flavoured water.

Some Final Words on our best money saving ideas 

Living a frugal life does not mean living unhappily.
If you want to have a savings account or invest your money into something that will yield better results in the future, it’s necessary to make a few sacrifices now and enjoy later.

How you spend your hard-earned money is up to you. Keep in mind that saving money will not make you rich. To become rich, you must multiply your sources of income and invest.

We believe you can use some of our tips to meet your savings goal and cherish the art of saving money.  If you think we have missed anything, or you have tried any of the best money saving tips, then please let us know in the comments section, or post to our money saving forum.  We would love to hear from you.

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