The rising cost of living is affecting every Britons, therefore, saving money has been a priority in such circumstances. Here are 10 tips to save and cut spending in your daily life.
Turn your clutter into cash
Start clearing out the stuff that you no longer use today, take a good picture and put it on Facebook marketplace, gumtree. Generally, the best sellers includes clothes, furniture, baby products and electronics.
Zero spending
Challenge yourself by doing zero spending few days a month. Try to made your own coffee instead of buying from a cafe. Consequently, You will see how much difference on the account at the end of the month
Request for smart meter
Getting a smart meter will help you to monitor your energy usage. Also, if you pay your energy bill by direct debit, you might end up being owed money by the supplier as you’ve used less energy than you’ve paid for.
Sign up to cashback sites
Websites such as Topcashback, Quidco offer cashback on different kinds of products and services. Simply search on the website if your favorite offering deals, then click on the link. After completing the purchase, return to the cashback site and see how much commission you earned.
Grocery shopping on budget
According to UK’s office of National Statistics, it is estimated that the average person spends around £123 per month on grocery which is equivalent to £31 a week. Try to keep your budget tight on this amount and buy the grocery once a week. Avoiding shopping few times a week is also a good way to control your budget.
Rent out your own drive
If you have spare space on your driveway, you can use some apps to rent out your space. Sign up on JustPark, Your Parking Space for more information on how to rent your space. It’s one of the easiest ways to get some extra cash.
Make your own lunch
Make your lunch instead of buying from outside. For example, if you work 5 days a week, you can make home-made lunch for 4 days and eat out for one day. This way, you are not being too harsh on yourself! When eating out for one day, choosing cheap deals such as buying the £3 Morrison or £3.39 Boots sandwich meal deal. If you make home- made your lunch for 4 days and until the end of the year, you are estimated to save up to £800.
Use your store card
Some stores’ card award schemes are really good for saving money. My favorite one is the Boots Advantage card. It gives you four points for every £1 you spend. It’s easy to save the points and get a decent cashback.
Get a daily spend debit card
Recently, I have found Starling Bank digital banking to be really advantageous. This is not the first time I have used digital banking. Therefore, compared to other digital banking, Starling Bank is very user- friendly, especially for controlling and monitoring your monthly spending. The monthly spending charts shows how much you spend on each category; it has never been easier to save money.
Claim cash you are entitled to
Many working individuals are not aware about their money which they can potentially claim back through tax refund. If you are unsure about your entitlement to tax refund, do not hesitate to contact our tax specialist for no obligation review.
