Having some savings behind you is a good way to improve your life. It enables you to take control again and makes everything a lot less stressful.aiFor example, if you are unfortunate enough to lose your job you needn’t take one you do not like because you are afraid you will not be able to pay your bills. Instead, you can live off of your savings for a month or two and find a new job that you will actually enjoy doing.
But getting those savings can seem tricky when you eye the emptiness of your bank accoutn every month. Here’s some simple steps that can help you towards making a good start on saving for that inevitably rainy day.
Start by opening a decent savings account
If you have not already done so, consider opening some form of savings account. A cash or stocks and shares ISA are both options that are worth considering.
Having a proper savings account is the best way to make sure that you will not squander the money you are going to save by doing some of the things that I suggest, below.
Cancel any subscriptions you no longer need
Subscriptions are the kind of thing that a lot of us don’t really think about, and therefore fail to pick up on when trying to cut back on how much you are spending. They are one of those impulse buys we all fall foul of on occasion. If you have a gaming subscription, think about how much you actually use it. Often, you will find that you rarely, if ever, do. Over the course of a year, you can save a lot of money by cancelling subscriptions you no longer use.
Shop in the sales and use coupons
Getting into the habit of using coupons is a fantastic way to save money. If you see a coupon or voucher you think you may be able to use in the future, save the details. Also, sign up to be notified of sales by the retailers that you regularly shop with.
If you use Chrome, add the ‘Honey’ plugin – it’ll flash up and try coupons everytime you shop. It doesn’t always have something, but it’s always worth a try.
In fact, if you are really savvy about this you need never pay the full price for anything. This article goes over 28 methods you can use to make sure that this is the case.
Walk or cycle instead of driving
Driving is expensive. The cost of fuel is constantly rising and is likely to continue to do so for the foreseeable future. Walking, cycling or using a scooter are all practically free. So, whenever you can do so, walk or cycle instead of driving.
You will save money, help the planet and be a lot fitter. In fact, the chances are that you will be able to cancel your gym membership, saving you even more money.
Stop throwing food away
Virtually everyone throws away food. For example, in the UK, £13 billion worth of food ends up in landfill.
In all likelihood, you also throw quite a bit away too. If you do, make some changes. Avoid buying food on impulse, use up your leftovers and plan your recipes so everything gets used. Doing this will enable you to save a lot of money. Usually, because you are being more mindful about what you buy you will end up eating a healthier diet.