Every day, I try to learn how I can save money without lowering my standard of living. After all, when you’ve got family to care for and you’ve worked hard for what you’ve got, why should you? Anyway, now that it‘s summer and we’re all thinking about our next little break to go on vacation, I’ve decided to compile a few tips that will help you keep hold of a few more dollars each week. Some may not apply to you, or generally appeal, but they’ll definitely keep you living frugally!
Cancel your standing orders. You could be spending hundreds or thousands of pounds a year on things you don’t need any more – it could be the gym, old insurance policies, bank account fees or online subscriptions you hardly use (think Netflix, Spotify, etc). Do a super-audit and you could save lots of money – but don’t cancel things you need, like currently-held insurance policies with your provider or credit card payments. Research from over 50’s insurance provider Castle Cover shows how the cost of utility bills have changed over time, so this can also give you an idea of areas where you could look to save some money.
Drive more economically.However efficient your car is, consider opting for windows down instead of air-con; under-inflated tires also cost a lot of cash. Don’t accelerate too fast either; driving carefully can cut gas costs by as much as 30 per cent. Even little things, like the radio or cigarette lighter port, can cost you extra pennies along the way – ask yourself if you really need to use them.
Use up what you already have. If you’re getting to the end of the month and you want to save some money instead of spending it on a big food shop, look in your cupboards first to see what you have to eat. Buying rice and pasta in bulk can often make your choices more varied, so buy these in bulk for cheap and you’ll always have options!
Think about your daily spending rituals. The easiest way to save hundreds of dollars a year is to give up the little daily purchases. Think of coffee or breakfast wraps – things you can get for cheaper or free at home or work, which you can usually make better versions of yourself!
Cut down your alcohol spend. If you like a glass of wine or bottle of beer, it’s much more sensible to go to a liquor store and stock up for a third or quarter of the price that the same drink would cost you in a bar. Be sensible with what you buy!