(Collaborative post) It’s amazing how much small changes can affect your bank balance at the end of the month.
A lot of people think you need to completely overhaul your life and make big changes to save significant sums of money. But that really is not the case. There are many small things you can do to help you to save money and get your finances under control. Let’s take a look at some of them…
Simple Money Hacks to Boost Savings
Automate Everything
From paying your bills by direct debit to automatically transferring money to your savings account as soon as you get paid, anything you can do to automate your finances will help you to save money. How? Well, for one thing, there’ll be no more forgetting to pay your bills. This means no more default fees. When your savings are automated, you don’t even think about them. This means you don’t even have to think about adding to your savings each month.
Switch Regularly
Use comparison sites to switch your utility suppliers. You should be regularly reviewing your expenses and switching to cheaper providers if it is possible to do so. This can automatically result in savings, and if you’ve not changed in a while they may be bigger than expected.
Call the mortgage broker to see if you can get a better deal. Just to note that you can reduce your payment by switching there are a number of costs associated with remortgaging. Check these first to make sure it’s worth doing.
Plan Your Meals
You might not think that meal planning can save you much money, but give it can make a big difference. Decide in advance what you want to eat for the whole week. Then you won’t spend money on food that will just go to waste. The average UK household wastes approximately £250-£400 of food each year, it soon adds up. If you save £400 over the next 20 years, that’s £8000 you could put towards your retirement fund.
Create a Budget
If you have a monthly budget, you are less likely to overspend and get into financial difficulties. It’s a good way to help you keep on top of your money management. When you can clearly see what you have coming in and going out, it just makes life easier, and these days, you can get numerous budgeting apps that make the whole process a bit easier.
Cull the Credit Cards
You may want to keep one credit card for emergencies, but don’t use it unless you have to. It’s really easy to spend money on credit cards without even thinking about it. Before you know it, you have the original costs to pay back plus a whole lot of interest too. When you pay by cash or use your debit card you can see your money dwindling. This makes you think twice before buying anything. It’s a good way to help you consciously try and save.
Are there any Simple Money Hacks to Boost Savings that you swear by?
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Definitely meal planning, I havent been so good at it lately but it honestly really helps with food bills and waste.
I’m not the best, glad to hear you are better than me at meal planning x
We do try to do a lot of these since we know it’s important to save. We do use credit cards but pay them off the next month. We use them to get rewards!
The rewards can be really good if you use the same card although only spend what you can afford to repay.
Ahhh I need to do all of these, but especially cut my credit card usage.
That’s something to start with maybe x
I have all my bills automated as it makes things easier. I have no problem with credit cards as I pay them off every month and Iike the rewards.
It’s good to hear you are on top of the credit cards. So many find it easy to build up debt they can’t repay.
We are already doing a number of these. Unfortunately, our area doesn’t have options for our utilities so we are stuck with the ones we have.
It’s good to hear you are doing what you can. Everything helps x
Good advice! I also have made arrangements with my bank to automatically transfer 20% of my paycheck into my savings account. That really helped me save money. I only get to spend the remainder of what I get and savings get tucked away safely in my “emergency savings fund” account.
That is great, you should have a good savings pot. It ensures you are covered in case of emergencies too x
we will go cash only for a week or so. just to physically see the money leaving our hands.
That’s a good idea, that can help minimise spending.
I do most of these, but a big one is that I need to work more on meal planning. I feel like we end up with too much food and too much thrown out, because meals aren’t planned well. I’ll have to sit down and work out a menu.
I think part of it is we aren’t really taught about portion control. That can help cut waste.
We are always looking for ways to save money. We have found that meal planning really does cut down on the grocery bills.
It really does. It’s amazing by how much too.
Planning my meals has been a total game changer for me.
It makes such a difference.
Automation is the way to go. I pay my bills before I even see my payroll deposit. It has helped my credit score like crazy!
It really does make things much easier!!!
Thanks for this post. I must follow all these to save up.
Good luck Nikki.
Great tips for money saving thank you. I find meal planning is a huge money saver for us and also reduces waste.
It is important to cut down on waste x
I have been gradually paying down my credit cards and feel so good about seeing the amount go down. The next thing I really should do is set up savings, I never had much spare cash before to do this.
That’s amazing. Once paid off you can start to build up savings x
We try to meal plan as much as possible. I find it really is a big money saver, especially with 3 kids.
I agree, it can make a big difference.
I plan our meals weekly and it’s definitely saving us money and also time. Great tips!
Thanks Lynndee, it’s great isn’t it!!
The only thing is I don’t like to automate, unless it’s something I can’t argue like property taxes! Companies can be sneaky.
Yes, it is important to be careful what you automate.
I wasn’t considering paying my bills by direct debit. I thought that this way I have the full control on them. But I think you are right, I should try to do this way!
It’s a great way to make sure it’s done automatically. One less thing to worry about.
Great tips and advice here…budgeting is the most important thing to get started with. Thanks for sharing!
It is important to watch and control what you spend.
There are a couple of these I need to work on myself. Planning meals is something I need to work on more. I have been wanting to plan them out more, but I never end up sticking to it. I’ll have to work harder at this.
It isn’t for everyone but it can help you make savings x
Good advicre to cut out the credit cards. I’m working on it now!
As long as you don’t over use them you should be fine x
Some great tips here to save money. I need to check my current rates and think about switching my utility suppliers as I sometimes don’t do this and they end up charging me more every year
It’s shocking how they bump up the prices to catch people out.
This is some really awesome information. I love finding new ways to save some extra money.
It does come in handy x
So many simple and easy tips for saving money. I’m
flagging this post for future reference
I hope it helps Romy x
Excellent tips! I especially like meal planning, it makes such a difference to the budget!
It’s a popular tip and does make a difference x
There are some really good ideas and suggestions here for sure. I agree that meal planning is a good one and also trying to set a budget x
Setting a budget and keeping to it can really help especially if you are strict. It helps you focus on necessary purchases.
Couldn’t agree more on this! Definitely a good read especially for those who really want to start saving.
Thanks Anosa. I hope it helps a few people with their savings.
I don’t know why I am not able to save money 😞 You have shared some great tips here and I need to follow your advice! Thanks for sharing, hun 🙂
I hope they help. It can be hard sometimes xxx
These are solid tips. My husband and I are working to restart our saving so I will definitely putting some of these into action.
It can be hard work but if you are strict with things can be done by most.
this is a great list to boosting the savings account. I practice several of these already, so that’s good! ; )
I like the idea of keeping in contact with the mortgage broker!
That’s great to hear Eloise. They can really help get you great discounts as we found from experience.
Planning meals is key. People spend a bulk of their money on just food alone!
That’s very true and why we need to make sure we plan what is used and when to minimise waste.
I like using coupon apps to help find deeper discounts when online shopping. it can save a ton!
They do really help make savings.