Everybody wants to Money Saving nowadays. Although some expensive things are necessary for many of us, such as our homes and cars, there are ways in which you can reduce your expenses whilst still having your daily luxuries.
Here are 10 top money-saving tips that everybody can implement into their lives to reduce their expenses.
1. Lease Your Car
Instead of buying a brand-new car outright, there are alternative options that allow you to pay for your car in smaller installments.
Car Leasing is an amazing way to remove the overwhelming price of a new car. You pay a portion of the total price over a series of months to reduce the impact it has on your bank account. This can reduce your money worries whilst still giving you the opportunity to buy an amazing new car for yourself.
Most car models now offer a leasing option, so you’re not going to be stuck for choice. Once you’ve made all of your monthly payments, you simply hand the car back, but many companies and owners are happy to extend the lease if you’ve looked after the car and been reliable with your payments.
2. Share a Car
If you are able to, offer to share a car with one of your family members or housemates. This will save you both having to buy separate cars and each pay for insurance on different cars. Of course, this takes a little planning when it comes to who gets to have the car each day, but it’s definitely doable and will save you a lot of money in the long run.
3. Drive the Same Car as an Experienced Driver
If the other person driving your car is experienced and has not been in any previous accidents, their insurance is likely to be lower. Placing their name on the same car as yourself will therefore reduce your insurance slightly too.
4. Shop Around for the Cheapest Insurance
If you drive a car, you need insurance. Unfortunately, this is a necessary expense that all vehicle drivers have to pay each year by law. Most people renew with the same company without bothering to look for alternative suppliers.
Shopping around for the best car insurance deals can save you hundreds of pounds every year, and it’s easy to do. There are websites that compare deals across a range of insurance companies, so you can be sure you’re getting the cheapest option possible.
The same applies to any insurance, including home and life instance. Before renewing your contract with your current insurance supplier, make sure to shop around. You might save yourself a lot of money!
5. Bulk Buy Your Food
Food generally costs more if it is bought in single packets. For this reason, buying things in bulk can be a great method to save money. There are a number of in-store and online places to buy wholesale food items, such as Amazon or Costco.
Making a regular trip to buying food for the upcoming weeks also saves you time and effort by reducing the number of grocery store trips you need to make. If you usually drive to the store, you will also save money by using less fuel going backwards and forwards to buy your food each week.
6. Avoid Wasting Food
Almost half of the food produced globally is not eaten. This is partly down to consumers buying excess food that ends up going off or growing mold before its eaten.
By carefully planning your upcoming meals and buying only the necessary food and drink, you could save yourself from throwing away large amounts of produce. This will, in turn, save you money each time you do your food shopping.
7. Upcycle Your Clothing
This is one for the creatives out there. If you have some old clothing that you no longer wear, you can recycle the material by using it to create a brand-new piece of clothing.
This will save you money as you won’t have to buy new clothes as often. It’s better for the environment and offers a more sustainable option to fashion. It’s also super fun and creative!
8. Limit Eating Out
Although eating out is a sociable event that many people enjoy, it can be expensive if you do it regularly. A great way to save money is limiting the number of times you eat out to a maximum of once or twice a month. This includes reducing the number of takeaways you buy too.
Instead, buy a bunch of fresh ingredients and cook your own dinners from scratch. To save even more money, you could bulk buy your food and batch cook your meals for the week.
9. Sell Your Old Items
Selling your old furniture or clothing doesn’t just save money, it makes money. There are several second-hand selling websites such as Postmark or Depop where you can upload your unwanted items for others to buy from you.
It’s a great way to make some money and get rid of your clutter at the same time!
10. Work Out from Home
For those of you who love fitness and want to maximize your health, you probably enjoy going to the gym. Some gym memberships can cost a lot of money, and you are charged every month, regardless of if you go regularly or not. Working out from home can save you money in the long term by removing the need for a gym membership.
Although some gym equipment can be expensive to buy, it will last you a long time and can be kept in your spare room or your garage, ready for you to use when you want to work out. You could buy yourself some cardio machines such as a treadmill, or invest in a squat rack to build muscle.