This is the ideal time to take control of your finances and get on top of your spending. Here I tell you all about 5 simple ways to save your money each month I use and the great results I get consistently.
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The basics of Saving Money
If you are saving for a purchase, an emergency fund, paying debt or just having the reassurance that there is money there for when it’s needed, you need to know where to start in order to make effective changes.
First things first, get to know what your fixed expenses are each month. These are expenses like your rent, insurance, tax… things you pay each month and around the same amount each time. You may think you already know what they are and disregard this task but I tell you that it is a big mistake to skip this basic step. Knowing where your money is going every month is the single most important part of making a savings plan or a budget to start saving money. If you want to make savings, you need to know where the money is going and reduce how much money goes out.
Get your statements and write down each expense. Make a note of how much you pay, at what day in the month and for what. Now look at food shopping and also look for other expenses you have on a regular basis. Once you know how much you spend each month you can see where will make more sense implementing changes. This will achieve maximum impact. See below where I made changes.
Swap Branded Products For Supermarket Own Brands
I’m really lucky to live near both Aldi and Lidl, but if you are not as lucky, you can still make some savings just by swapping a few products and creating new habits. This is a great way to try new things and save money each time you shop. I, for example, have swapped toothbrushes, all dishwasher products, toilet paper, kitchen towels, pasta, rice, most meat, fish, cereals, bread, fruit, and veg. Most I get from Lidle and Aldi and both fish and meat I get from my local market. You can be as strict as you want with what you swap, just make a note of the savings.
I have recently found that Morrisons have a huge own brand range and ordered online for a big shop with them. Their own brand range is great and the list of products is amazing – check them out.
Save Money with meal planning
I set aside one hour on Fridays and look both in the freezer and pantry before deciding on a meal plan for the week. Using what I already have, as much as possible, and shopping for the remaining items only, I have saved an average of £40 a month. I don’t spend one hour meal planning, no that takes me around 20 minutes, I plan my week too in that time too.
Need a meal planner to get started? Download my free Meal Planner with a shopping list here.
Know your supermarket & save money
I do most of my shopping at Aldi or Lidl. They are the closest to me (really a two-minute walk) and as I go there often, now I know when I’m most likely to find discounted items. For example, last year, at Christmas, I got an organic Turkey for 10 people for £15.00 and this year I went back at the same time, on the 24th December and got all my shopping at 50% the original price including Turkey.
Today, for example, they had their minced meat at 50% so I got 3 packs and froze them all, this will keep for a couple of weeks in the freezer and I can use it when I’m planning my meals.
Become a regular of the supermarkets nearest to you and visit them at different times to see the promotions they have and what times are better for finding good deals. After a few visits, you will know when you are more likely to find bargains. When you find them, buy a few packs and freeze.
Shop At car boot sales and local markets to make more savings
You can find amazing bargains at local markets. If you want to make some money on the side, car boot sales are an excellent option for additional income too! Kids & branded sports clothes do amazing as do toys!
I buy most of my kids’ clothes and toys from markets and boot sales. Kids grow fast and clothes don’t get to be worn for several seasons, so this is a great way to find quality clothes at great prices making you huge savings and helping the environment too. Even better, once you are done with those items, sell them on eBay or Marketplace and in most cases, I can guaranty, you will make a good profit!
Shop around for good deals on your utilities and insurance
If you are anything like me, shopping around for better deals on your utilities it’s a task always left for last! Its endless forms to fill in, question after question and in the end, you might be stuck with what looks like a good deal with a price hike two months later…
I was with two TV providers for years. Would call them each year to negotiate a new deal and without fail, two months later I would get a price hike letter. The same happened with my energy provider. So, earlier this year, I got so tired, I cancelled all my services and bought an Amazon Fire Stick for my TVs, this was the best move I have ever made!
I also cancelled my TV license and never looked back! The TV license fee was £12.00 plus £20.00 for the TV package I had – that is £30.00 per month savings. Read below for a really great deal I got for my home phone, broadband, gas, and electricity. I’m also giving you a tip on how to get an even bigger discount!
Talking about utilities is never going to be the most exciting conversation, but let me tell you a little secret… You can still make good savings by shopping around. There are plenty of comparison websites you can use to compare prices! Don’t forget that there are other companies that do not advertise on those sites. Often, because they save on advertising, they are able to offer really good deals.
I have recently moved all my utilities to the same provider. They are a utility provider and savings club, so the more utilities you bundle together, the bigger the savings you will get. I’m saving £45.00 a month. But that is not all, because I moved all my utilities and took a £10.00 mobile SIM card. I qualified for an additional 10% discount on Gas and Free energy-saving LED lightbulbs. I have 30 lightbulbs in the house, had no idea I had so many! They will also replace any that stop working, I just need to call. That is over £300.00 savings on the bulbs alone and an additional £45.00 a month. Have a look here to see what they are offering.
How To Get The Best Savings
Now, another bit of juicy information… if you use the link below and subscribe to an energy plan, you will get £100.00 credit on your account on month 12. In addition to that, if when you join, you book a free smart meter installation, you will receive another £50.00 credit in your account. That is £150.00 savings right out of your energy bill. You can have a look here and play around with the different price plans so you can really see what savings each plan can give you. Don’t forget to compare with what you were paying before and make your selections like for like so you get a real idea on the savings.
Just Like A Meal Deal
For example, even if you don’t need a SIM card, start with the plan that includes one and select the £10.00 SIM card available, that will give you a much lower price for your Gas and Electricity and your savings will be greater and will cover the £10.00 you are spending on the SIM card. It works a bit like a meal deal, you don’t want the drink but you take it to get the deal! Try it out here.
Related Content: HOW TO SAVE TIME AND MONEY WITH MEAL PLANNING HOW TO START SAVING MONEY
I hope you have found this post helpful and have achieved savings using some of the tips I have listed here.
I love hearing from you and what you are doing to make a saving, let me know in the comments below.
Keep enjoying the simple things!