Do you ever feel as if money is tight and you can't afford the things you want? Maybe it’s time to take a look at what you're spending and see where you can make some savings. You may find you’re spending more than you think and by simply cutting down on some of your daily expenses throughout the year; you'll be off to a great start to put some money away for a holiday. A pound here and there may not seem like much but it can quickly add up.
Here are a few tips on how you might reduce your daily expenses:
Cut the caffeine
Does your day involve a morning coffee from your local barista? By cutting out your trip to the local coffee shop you could potentially be making a significant saving. Why not bring your own products to the office and save on the additional expenses, or even cheaper stick to cold water. By drinking water you can not only save money but boost your energy levels and hydrate the body for free!
Cook at home
You may find yourself eating out at lunch, going out for tea or even ordering a takeaway from the sofa, before you know it you’ve spent up. Prepare for your week with a meal plan, make a list of all the ingredients you need and hit the shops – do not budge from the list and don’t be tempted by those end of aisle extras. Be sure to prep your lunches the night before to avoid forgetting or struggling for time in the morning. Not only will you save money but it can also be a lot healthier. You can also cook your meals in bulk and freeze them, which can be an effective way to save money and time if you have the space in the freezer.
Take a look at some of these meals the BBC put together for you to prepare at home: http://www.bbcgoodfood.com/recipes/collection/cheap-eat
Compare supermarket prices
It’s quite easy to walk around the supermarket and fill the trolley resulting in an empty wallet. Why not try writing your list before you go shopping, go shopping when you’re not hungry and feeling good to avoid straying from the list. Be sure to check out competitive supermarkets as well, you can do this if you visit https://www.mysupermarket.co.uk/. You may find that planning your shop and changing your supermarkets can make you a saving.
Cheaper phone bill
Take a look at your existing mobile phone contract and double check whether you are near the end or not. If your phone is in good working condition it may be worth simply changing the type of contract you are on. Most networks offer SIM only deals that could save you significant money. It can also work out cheaper to buy a new phone outright if you have the funds available and then bargain with your network provider for a contract that suits your budget.
Ditch the gym
Whether you’re a regular gym-goer or you’ve recently joined because of your new year goals, why not try to cancel your membership and have go at workouts from home. You don’t necessarily need equipment to work out; if you did want to push yourself you could get creative and use cans of beans for weights. There are many YouTubevideos talking you through some good workouts to keep you in shape at home without any added costs. Instead of thinking of your gym membership as a monthly cost, remember most of the time it will be a twelve-month contract which is a yearly cost. By working out at home you can end up saving money that could help towards your holiday without having to sacrifice your health and wellbeing.
Keep your change
Do you have loose change rolling around, why not make a rule that any change less than 50p you will put to one side in a jar. This way you get to see your money grow without having a huge effect on everyday life. This trick is definitely a slow process but it can be a nice little saving to treat yourself with.
Sell your clutter
You may have plenty of old clothes or unwanted bits around your house that you no longer need. So instead of keeping this clutter around, have you considered selling it on websites such as eBay or Gumtree? By simply getting rid of your unwanted belongings you could end up making some extra cash - ideal to put towards your holiday.
There are many ways to make your money go a bit further so you can save for a holiday. However, it’s really important to be realistic. It’s always better to commit to small things rather than trying to make big changes all at once. If you have something in mind you want to achieve, then set yourself weekly goals and keep an eye on these. Each week you can then assess how well you’re doing and maybe even push your goals further.
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Representative example: £480 loan repayable over 9 months. 9 monthly repayments of £106.56. Rate of interest 133.1% p.a. fixed. Representative 535% APR. Total amount payable is £959.04