Whatever your income, there’ll be ways of making it stretch further, or work harder. Often having more money to spend or save is just a matter of knowing how to make the most of what you have. These ten handy tips should help you do this.
1. Grocery shopping. Do you buy branded foods, thinking they’re better quality or better value for money? Often, they’re not. You could be wasting hundreds of dollars/pounds each year if you stick to well-known brands. Try the supermarket-own brands instead, and (don’t) taste the difference.
2. Fuel. No matter whether you use Gas/Petrol, Diesel or LPG, fuel is expensive. You can cut back on your fuel bill by simply walking more. Not only will you be using your car less and burning up less fuel, walking is also great exercise! Which leads to my next point:
3. Gym Fees. Are you currently a member of a gym and paying X amount per month for the privilege? If so, cancel that contract and save yourself the cash by exercising at home or in the park, or wherever you can. Running, walking, cycling and all the usual cardio exercise can be done for free (or a small investment in a cheap exercise bike), and toning weights can take the form of food tins, bottles of water, or larger bottles full of sand if you need heavier weights. Sit-ups, push-ups and squats are fantastic forms of exercise and they don’t cost a penny.
4. Dining Out. Although it’s nice to eat out once in a while, it’s an expensive treat. A cheaper alternative is to visit a friend’s house for dinner instead. You could return the favor and make a regular thing of visiting each other’s houses and taking turns to provide the meal. It not only saves you money but also gives you chance to catch up on the latest gossip!
5. The Movies. Do you visit the movie theater regularly? It’s another expensive treat but a far from necessary one. There are several online rental sites now which are relatively inexpensive (in the UK they cost from as little as £3.99 per month), and they can send you the latest movies as soon as they come out on DVD, or any other titles which you want to see. If you enjoy movies, consider joining one of these rental clubs and you could save a fortune. Some clubs also rent out video games.
6. Online Vouchers. There are several websites around which offer printable vouchers for retailers and restaurants (if #4 is just too hard to stick to!). Have a look at these sites and if there are vouchers for stores you use regularly, print them out and save little on your next shop. Alternatively, your local newspaper or some magazines sometimes print coupons too.
7. Garage/Car Boot/Yard Sales. Give your home a spring clean, and sort out anything which you haven’t used, needed or thought about in the last 6 months. Then clean it, repair it, or anything else you need to do to make it presentable, and sell it on. Don’t price anything too high, and you’re more likely to sell everything.
8. Invest. Find a savings account with a fixed rate of interest, deposit as much as you can afford, and watch the interest mount up. This is handy if you’re saving up for a large purchase in the future, like a holiday, wedding or new car, but don’t need the cash right away. The longer the ‘lockaway’ period, the better the interest rate usually is.
9. Clothes and Shoes. While we all need things to wear on our bodies (unless we want to be arrested) and feet, it’s unlikely you’ll need to buy a new pair of shoes or a new shirt every month. Repairing clothes costs a lot less than replacing them, and if you really do need a new outfit, try looking in thrift stores or charity shops for your garb rather than heading to the high street. You could even swap garments with a similar-sized friend for a new look at no cost!
10. Utility Providers. You probably won’t be tied into staying with your current electricity supplier or phone company, so why not see if you can get a better deal elsewhere? This also goes for insurance and some bank accounts, so make the most of comparison sites like moneysupermarket.com and see if you can free up some cash that way.
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