A change in circumstances or a major life event can be enough to throw your finances into chaos. When you need to save money, it’s important that you make some changes to your spending habits to help you make the adjustment. It’s not always easy to find areas to cut back, but if you’re determined to save some pennies, you have to get on with it.
Help get your savings started with these five things you can do to cut back today.
1. Slim down your entertainment
One of the first things you can do to reduce your outgoings is slim down any entertainment packages you might have – especially if they’re underused. From cinema cards to subscription TV channels, you could be wasting a lot of money if you’re not using them enough. Take a long hard look at what you’re using versus what you’re paying, and make some changes if necessary.
2. Switch your energy provider
You might accept your energy prices as standard, but when was the last time you looked to see what’s out there? Taking the time to compare energy could help you uncover some deals you didn’t even realise existed. Even if you stick with your current provider, the threat of losing you to a competitor could be enough for them to offer you a better rate.
3. Start making packed lunches
This is such a simple way to save money on your daily spending, but many people continue to eat out every day. By bringing food from home, you can save yourself a lot of money each week that will soon add up over the year. Try some healthy lunch recipes and enjoy better, tastier meals at work instead of the supermarket sandwiches you usually go for.
4. Download a spare change app
Spare change apps are a great way for you to build up some savings without even knowing you’re doing it. Rounding up your card spending to the nearest £, you’ll soon find yourself with a healthy little pot after a couple of weeks. Why not use the money saved to treat yourself at the end of the month instead of dipping into your savings?
5. Sleep on your spending
If you love to shop, the thrill of an impulse buy will be all too familiar. However, if you take the time to mull over your decision instead of rushing straight into it, you might find the urge wears off – saving you money in the process. Next time you want to buy something, hold off a day – you might have forgotten all about it come morning!
Making small savings might not seem like a lot, but when you add them all together, you’ll soon start earning some big wins. Start making those little changes today and you’ll soon start noticing results. Need some inspiration to help you save even more money? Take a look at some fantastic tips to help you save £100 a month without even really trying.