Best methods of saving money
It’s never a bad thing to save money and there are lots of little changes we can make in our day-to-day lives that could result in some great savings. If you’re interested in some smart spending and saving, here are some tips on what you can do.
Not everyone has the option to save money on transport, but if you own a car or are looking to own a car then there are some ways that you can save money. Firstly, if you don’t have a fuel efficient car then it’s time to make the switch. A fuel efficient car could save you hundreds on gas money. In fact, you could cut your fuel cost in half with a fuel efficient car and although the initial cost might be a little worrying, it’s definitely worth it in the long-term, and before long your car will pay for itself.
Another way to save money on your car is to simply use it less. A lot of us are guilty of driving to the store when we could very easily walk the distance. Well, if you want to save money then it’s about time you built up your stamina. Start walking more and buy yourself a bike to save some money and get in shape at the same time.
If you want to save money on your food bills then there’s going to be some planning involved. Rather than buying the food when you feel like it and buying what you feel like eating, start putting together a weekly meal plan. With a food plan you’ll know exactly what you’re buying and how much you need, which means less of your food will go to waste and you won’t end up buying treats and snacks that tempt you when you’re wandering around the store. You can also save money by couponing and saving receipts. There are a lot of stores that have a policy of ‘if you find an item for less elsewhere we’ll match the price’, in which case, if you keep track of what you buy form other stores and save the receipts you could end up getting some cash back on your next shopping trip. Don’t forget to take advantage of loyalty points, too. If you collect enough points from certain stores you can get items for free or a cash reward.
Rent, taxes, utility bills and debt
These are the types of expenses that you definitely can’t give up, but if you’re struggling to keep up with them then there are some solutions. When it comes to gas, electricity and hot water, the easiest ways to save money are to use them less and to invest in some efficient appliances. Switch to energy efficient lights and install a water efficient shower head to save money on your water and electricity. Rather than keeping your heating on all winter, invest in some insulation in your home to keep the warmth in and the cold out. Sometimes you’ve got to spend money to save money, but the long-term benefits are more than worth it.
If you’ve been using credit cards to pay your bills, stop! Credit card debt is nothing to sneer at and the longer you leave it the worse it gets. Similarly, if you’re the type of person that leaves paying their bills until the very last minute, stop that, too. That’s how you easily lose track of your money and end up spending more than you’d planned to. As soon as you get your paycheque at the end of the month, put aside your money for paying your bills, keep it safe and don’t touch it. That way you won’t accidently end up spending it. If you’re seriously low on money for the month, don’t skip your payments. Instead, consider taking out a peer-to-peer loan or take out a short term loan from a responsible direct lender. While it might not be the perfect option, it’s certainly better than getting kicked out of your home because you forgot to pay rent. Just make sure that you’re taking out a sensible loan. Only take out as much as you can afford and pay it back as soon as possible.