Tuesday, June 18, 2013

Some Ways to Save Money You May Not Have Thought About

Realistically, the vast majority of us are looking for ways to make our money work harder. Spending less on certain essential items is definitely one way to do this. However, in practice, this is often easier said than done and changing our spending habits can be quite difficult.
So if you are looking for some tips for how to save money, try starting with these suggestions.

Think about how you shop


Much of this is a mind-set change. With things like your weekly groceries, make sure you aren’t going to the shop feeling hungry, and avoid the tempting, end-of-aisle offerings that trick you into making impulse purchases. Get a rewards card with your regular supermarket which will often give you money-back vouchers on certain items that you regularly buy. Perhaps also consider a credit card which will pay you cashback for purchases made on it, though you should always ensure you can pay this balance back in full each month.

For things like shopping for electronic items or clothes, try comparing prices online, rather than buying the first item you see. You can also find good cashback deals on certain websites, meaning you are effectively ‘paid back’ some of the money you have spent. 

Reduce your travel spending


A surprisingly large amount of money can be saved if you change your driving habits. Becoming a more considerate driver will help you use less petrol, i.e. leaving a bigger gap between yourself and the car in front, accelerating and braking less aggressively, not speeding - especially on motorways, will all reduce your fuel costs, as well as help contribute positively towards a healthier environment.

When it comes to trains, use season tickets when it comes to regular journeys, such as the one you make to work each day. For longer trips try to book online as far in advance as possible. Also try to use advance tickets where possible, i.e. where you have to travel on a set train on a specific date.

Cut down on electric and gas prices


Energy prices are one of the quickest rising costs at the moment, seemingly going up a staggering amount far above inflation every year. So finding ways to cut back on your gas and electricity bills will save you a large amount of money across to course of the year, especially during the winter months. Firstly, consider the things you can do yourself such as ensuring that lights are turned off when not used, not leaving devices such as televisions and games consoles on stand-by, filling up the kettle with only as much water as you need etc.

After you have thought about your own usage, then it is time to do some research into other providers. If you haven’t already, it’s well worth using a comparison tool to see whether you could save money elsewhere and make the switch if necessary - something which is far easier than you may think!


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