As much as earning money should be your focus been able to cut down on costs is just as important.Many of us are missing out on money because we aren’t actively looking at ways to save.I always used to believe that as long as you can make a certain amount each month that it doesn’t matter how much you spend.
What this meant was I was spending way more than I should have been and by the end of the month my pockets were just about empty.Today I’m going to talk to you about six money-saving ways we’ve all been ignoring and how you can start taking action from now on.
1. Earn Interest With Banks
Not something I have too much knowledge of; however, it’s something that has come to attention recently. Banks like to offer where if you switch banks you can be entitled to either bonuses or reasonable interest rates.This is a great way to save as you can have your money in the bank and be earning interest each month. You’re effectively getting cash for keeping it in a specific place.Let’s say, for example; you can get £15 from interest each month you could save £150 for that year.Something to look into more and with many banks out there they’ll be something you can take advantage of.
2. Stopping Subscriptions
I can be more guilty of this and is keeping several subscriptions that I don’t need recurring each month.When you sign up to services such as Netflix and now TV you are going to be spending at least £10 each for every subscription you have active.Now despite me having all these one things I noticed is that all is one that you don’t use as much and is more beneficial if you stop it.Let’s say for example you have a Netflix account and you are spending 8 pounds a month this is £96 for the year.Now you may use this a lot and maybe getting value for your buck however if you’re not then it could be worth getting rid and saving that extra cash.
3. Making The Most Of Cash Back Schemes
This goes for almost any item in the house. A great example is mobile phones, especially if you buy them outright you may have some old ones that you either trade in and save on a new phone or better still get cash for.
For me when I brought the new Xbox One and decided to move away from the PS4 I stopped using it.
I basically had money sitting in the TV cabinet, I probably should of sold it after I buying the brand new one.
If you walk around the house and look at items within your household you are guaranteed to find something with value that you could sell and save money.
4. Sell Items You No Longer Need
Ever brought a game, movie, book and find yourself not using it in a while.Chances are you don’t need it anymore and you would be better off just selling it. This goes for almost any item in the house. A great example is mobile phones.
Especially if you buy them outright you may have some old ones that you can either trade in and save on a new phone or better still get cash for.For me when I brought the new Xbox One and decided to move away from the PS4 I stopped using it.I basically had money sitting in the TV cabinet, I probably should of sold it after I buying the brand new one.If you walk around the house and look at items within your household you are guaranteed to find something with value that you could sell and save money.
5. ‘Value’ Food
I used to have some bad habits, I am talking buying fast food and whatever’s convenient most days.
As you may know this is not cheap and if you are buying a Big Mac every other day not only is it really unhealthy but it soon ads up.
If you are able to visit the supermarket you can find a lot of cheap products that you could put together to make a nice meal.
For example, something I like to cook is pasta and it turns out you can buy a packet of that along with some sauce and maybe some basil for way less than £5 (or how ever much a McDonalds meal is).
This works out so much better in the long run.
As for that price you have enough to make more than 1 meal as opposed to the singular ready meal you would normally be picking up.
Great way to go about this is to set up a plan, write down each day for the following week and plan what you are going to eat.
You can go further and work out how much you are going to be spending on each day and compare it to before to work out an overall saving.
Conclusion
There are hundreds of ways to save money many of which we all ignore but finding the time to put 1 or 2 into place can be a game changer.
I have implemented all of the above ways in to my life so if any of them appeal to you or your not doing already then maybe give them a try.
Talk to you soon,
Josh
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