Modest; 5 Smart Ways

By Jo Phillips

5 Smart Ways to Save Money That You Probably Haven’t Thought Of

You don’t necessarily need to hire a professional financial consultant if you want to be clever about saving and spending your money. However, you do need a plan of action in place for how you’ll make every penny count. The more creative you get with your saving strategy, the easier it will be to reach your financial goals, and the more fun you’ll have with your budget too.

If you’re sick of getting the same old advice, like pay off your loans first, and always take shopping lists with you when you go to the supermarket, we’ve got a treat for you. Here are some of the smartest ways that you can cut costs in your budget going forward.

1.    Buy your Food Online

Sick of spending more than you need to on your food shopping? Maybe you constantly pick up items that you don’t need from the shelves because you don’t know what you have at home. A great way to solve this problem is to do your food shopping online. Although you may need to invest in a delivery from the company you choose, you’ll be able to track down what items you need and search through your cupboards when you’re not sure what to buy.

Additionally, shopping online gives you the opportunity to search through coupons and vouchers for extra chances to save a bit of extra cash.

2.    Make the Most of Your Electricity

Did you know that many utility companies will charge you more for the same electricity during the day, compared to if you’re using it on the night? That’s because you’re running your appliances during “peak hours” when everyone else is also using them. Although you might not be able to just use electricity in off-peak hours, you can easily save some cash on things like water, electricity, and gas by timing your appliance strategy.

Think about setting a wash going at night before you go to sleep and remember to deal with your dishes at night too if you’re using a dishwasher. There are more ways to save cash with your utilities than just turning items off when you’re not using them.

3.    Experiment with your Food

There’s a reason why we’re so likely to eat out or order in when we’ve had a long day at work. First, we don’t want to both with slaving over the oven when we’re exhausted. Secondly, we’re not particularly inspired by the food that we have in the freezer. If either of those reasons are adding extra costs to your food bill, try taking advantage of some more experimental meals.

Stock up on local and seasonal produce and challenge yourself to make a wide variety of different meals with the same core ingredients. You can make your meals in advance and freeze them so that they’re ready to grab and cook at a moment’s notice. That way, you get something fun to eat, and you save cash on ordering in.

4.    Cancel The Services You’re Not Using

There are some expenses that you’ll have to commit to each month. These include things like your regular loan repayments, and the price of your mortgage, rent, and council tax. However, if you take a close look at your bank statement, you may also notice that you’re paying for services that you don’t actually want or need.

For instance, if you’re not using your landline (like most people these days), then you shouldn’t be paying for line rental. Despite this, countless homes around the UK are signed up for a package that includes line rental from their chosen provider. If this sounds like something that you’re dealing with, get rid of your unnecessary landline pronto. You should be able to find a broadband or broadband and television only package.

5.    Always Go Generic

Finally, it’s important to come to terms with the fact that brand names aren’t actually going to deliver better products 99% of the time. When you’re paying for a big-name brand, what you’re doing is delivering extra money for that company to push into its advertising campaigns. Ultimately, if you’re using brand-name anything, then you can probably switch to generic and save a fortune. This includes generic medicines, generic food brands, and even generic clothing.

The only time that it may be worth paying for a high-quality brand is if you know you’re going to get more value out of it in the long-term. For instance, it’s better to pay £50 for a jacket that lasts 2 years, than £10 for one that lasts 3 months.





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