Save Money: 5 Easy Ways To Cut Your Day-To-Day Costs
When it comes to cutting back on your outgoings – whether you’re saving for the future or want to spend your money on something else in the here and now – a little effort can, quite literally, pay dividends.
Whatever your circumstances, stripping out the more extravagant lifestyle luxuries is the most obvious way to save money. However, some expenses – such as food, utility bills, and travel – are everyday essentials and cannot be avoided altogether: if you’re keen to cut back on your day-to-day costs, here’s five great ways…
1. Cut the cost of your food shop
Problem: Without even realising it, your food shop can account for a significant chunk of your weekly outgoings.
Solution: In most cases, it’s possible to trim down the amount of money you spend on your groceries:
- Set a realistic budget, dependent on the size of your family, and then aim to stick to that figure
- Plan your week of meals carefully. Go to the supermarket armed with a list and only buy what you really need to avoid unnecessary waste
- Search online for meal prep and large batch cooking inspiration to save time as well as money
2. Cut down on little impulse buys
Problem: When you’re out and about, it’s easy to spend a few quid on little things but it can quickly add up. Write down every non-essential item you buy, in the course of a week, and then multiply by 52 – food for thought!
Solution: Be mindful of easy, convenient or tempting purchases when you’re on the go:
- Invest in a reusable insulated bottle and bring chilled water or a hot coffee from home (this also avoids single-use plastic containers which are bad for the environment)
- Pack healthy snacks and drinks for yourself and your family – don’t let the threat of ‘hangry’ tantrums persuade you to panic-buy goodies on the spot!
- Ignore the miniatures, promotional deals, magazines, and other goodies by the checkouts – they’re deliberately positioned there to tempt you into buying something that’s not a necessity
3. Drive down your gasoline spend
Problem: Most households rely on a car – it’s part of modern life – but it can be costly.
Solution: There are ways to keep running costs as low as possible. Fuel is a regular outlay – here’s how to reduce your expenditure:
- Regularly check your tyres are inflated to the correct pressure – too low or high will use more fuel
- Avoid using the air conditioning unless you really need it, as this also uses up additional fuel
- Don’t fill the tank too much – this adds weight to your vehicle and ups your fuel consumption
- Fuel prices fluctuate, so register on a website like PetrolPrices.com or download the app to find the cheapest petrol and diesel in your local area.
4. Save money when you switch energy
Problem: Appealing introductory tariffs, that prompt you to sign up to an energy provider, are usually only valid for a limited period. After the initial term has passed, your bills can suddenly hike up unexpectedly.
Solution: MoneySavingExpert Martin Lewis is an advocate of swapping between gas and electricity providers in order to get the best deal available:
- Use your annual energy statement to check tariffs on a couple of price comparison sites
- Head to MSE’s Cheap Energy Club – the team monitors the energy market for the lowest tariffs and will alert you if you’re over-paying for your gas or electricity
- Visit the Money Advice Service’s guide, for even more information about lowering your gas and electricity bills.
5. Shop around for insurance
Problem: Inexplicably, when your household, travel, or car insurance renewal rolls around, you could find that your premium has risen for no obvious reason – even if you haven’t made a claim. This is because insurers rely on a certain amount of consumer apathy, aided by the automatic renewal process.
Solution: As your renewal date approaches, check the proposed premium versus what you paid for the previous years’ cover – if your premium has increased:
- Visit a price comparison site to obtain like-for-like quotes – frequently, you’ll save a substantial amount by switching to another provider
- Contact your current insurer and give them a chance to match your most competitive quote in order to secure your loyalty
- Consider an insurer where you can bundle home and car insurance policies together for a discounted price
Go the extra mile to save
For the budget-conscious, shopping around, double-checking tariffs and surcharges, or simply cutting back can also save you money on:
- Mobile phones
- Landline phones
- Council tax
- Subscriptions and/or memberships
With a few tips and a little extra effort, the cumulative effect of trimming down your monthly expenses can add up to a saving of thousands of dollars over the course of a year – can you afford not to?
There are other tips and tricks that you can add to your armory, helping you to save even more money on your purchases. You could start by clicking on the following link https://www.checkoutsaver.com, and investigate how you can make massive cuts on buying the things you love.
The ability to trim a little off here and there can help you keep shopping without breaking the bank or heading into debt.
A little shopping spree can work wonders in these challenging times, helping to boost your well-being and mental health. Now you have the Checkout Saver App; there is nothing to hold you back and prevent you from saving your hard-earned cash.
Alternatively, you could add all of your savings together and head out for a Freedom Shop post the Coronavirus Pandemic, once things have started to settle down and life is a little easier.
Whatever you decide to do, keep your eyes open. You can make savings everywhere, and on anything you can imagine buying. All you need to be is a little moneywise and a super savvy saver.
Dakota Murphey is a full-time Mother and independent writer. She has spent the past 5 years writing and advising other families on wealth management strategies. Find out what Dakota's been up to on Twitter: @Dakota_Murphey.