Will Leyland, 13 October 2022
Social media is a wonderful thing at times, and as the winter begins to approach and we’re all looking at ways to reduce our bills with the increase in fuel prices, many have turned to the likes of Tik Tok, Instagram and Facebook for some of the best social media money-saving hacks that can help them get through.
Whilst we’re not usually ones for browsing through the latest social media craze, we know from our clients and customers that they’re always looking for ways to save money, so we thought we’d share the best money-saving tips we’d found from around the internet to help you through the colder months.
Whether that means setting yourself a regular standing order that you won’t notice or using roundup apps, it’s best to try and find a way to put money away that you’re unlikely to notice.
If you can, it makes sense to open an account that you don’t have easy access to, or that takes a while to withdraw money from, that way you won’t be tempted to dip into it at short notice.
Apps such as Money Box or Plum are good roundup apps that allow you to siphon away a few pence at a time, but which adds up quickly over the course of weeks and months.
Over time it’ll soon add up and you can use it as a reserve or emergency fund!
It may sound a little patronising, but an awful lot of people don’t actually understand finance that well.
Would you be able to explain to a kid what an APR is? Do you understand how your interest rates are calculated? Do you know about savings accounts, tax or how to invest money?
The best place to start if you want to learn a little bit about money is browsing the internet for quick explainers about financial terms, then Martin Lewis’s Money Saving Expert website is a great place to start.
Planning what you’re going to be making for tea or lunch each week can dramatically cut back on food waste when you do your supermarket shop.
It goes without saying that taking a packed lunch to work can save you hundreds over the years, if not months, but similarly, if you plan out what you’re going to be taking with you, you can cut down on food waste and buying stuff that you won’t use.
If you break down your recipes then you’ll know exactly what you’ll need rather than just going with your gut.
If you’re considering buying an item for over £100 then use the 30-day rule - write down what you want and how much it costs and then put it in a drawer or away somewhere.
If in 30 days you’ve forgotten about it or no longer need it then you’ve saved yourself £100 or more.
This can be used for clothing too. If you see an item you like, then put it in a shopping bag or shopping list for future reference. Once you have enough disposable cash to shop again, see if you still like it, and if you do then purchase it, if you don’t then you’ve saved yourself some money!
If you’re interested in more money-saving tips, why not take a look at some of our earlier money-saving tips here?
Will Leyland, 13 October 2022