Thinking about your finances and saving money doesn’t sound like much fun, and it can often be very overwhelming – but it’s necessary if you’d like to have more money in your savings pot.
When it comes to their finances, many people are unsure of where to begin and we can understand why. We believe that the best place to start is to think about where you are now (financially), where you want to be in a year’s time, and then think about what you need to do to get there.
We’ve put together some tips to get you on the right track to saving more money…
Make a budget – at the start of every month, sit down and create a realistic budget you’ll be able to stick to. Adding in how much you’d like to save each month will be extremely beneficial too. Then, on each Sunday afternoon, create a budget for the week to come. This will really help you to not overspend.
Set up auto saving payments – if you set up monthly payments from your regular account to your savings account, you won’t have to think about saving each month and your cash pile will just keep growing. Start off with a small amount until you know for sure the amount you’re able to save and then increase the amount as and when you can.
Set up auto bill payments – this will help you avoid late fees and higher interest rates. Get this sorted out in as soon as possible and you’ll start saving money quickly.
Pay with cash – try using cash when purchasing things rather than using your credit or debit card. Tangible money often makes you spend less as you can see it there in front of you.
Make lists when shopping – when it comes to grocery shopping, always make a list before you go and stick to it. It’s easy to buy things you don’t need but if you have a list to stick to you’re more likely not to overspend.
Use comparison sites – products are often cheaper at different stores so make sure you use comparison sites and shop around before buying. This is especially important when it comes to saving money on your energy bills and insurance – use the comparison sites to find the cheapest providers.
Use Qmee – it’s a fun, easy way to earn some extra cash which you can then choose to either save or add in to your weekly spending budget. If you install the desktop browser extension, you’ll earn cash rewards when shopping and searching online (which most people do on a daily basis!). You’ll also be able to take part in surveys to earn cash as well – you can even download our mobile app to take surveys and earn rewards on the go.
These things are so simple to do, but it’s implementing them and sticking to them that’s the hard bit! If you do, you’ll reap the money saving benefits in the long run and you’ll be closer to where you want to be financially.