Reducing expenses & saving more!
Thinking about your finances, expenses 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 reduce your monthly outgoings and have more money in your savings pot.
When it comes to 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. Reducing monthly expenses can help free a couple of dollars/pounds each month that can be allocated to savings and every little bit counts especially in uncertain times.
We’ve put together some tips on how to reduce monthly expenses and 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 bill payments – This will help you avoid late fees and higher interest rates. Get this sorted out as soon as possible and you’ll start reducing unnecessary expenses from missed payments and start saving more money.
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 for most utility bills and reduce your monthly expenses.
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. 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.
Make use of cashback rewards – Cashback rewards are one of the best things about shopping. Whether you’re looking to change your internet provider, buy a new phone, or even start enjoying a weekly meal plan. With specially chosen offers you’ll be getting free cash at the same time as doing something you were going to do anyway – so it’s a win-win situation. Extra cash here and there is always helpful, and cashback rewards are a great way to ensure you have that extra cash whenever you need it. Take a look at our Cashback section if you haven’t already!
Use Qmee – It’s a fun, easy way to earn some extra cash. You can then choose to either save your rewards or add them 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.