10 Spending Habits To Change When You Are Trying to Save Money
Unfortunately, Coronavirus has meant a lot of families and individuals are looking for ways to tighten their belts and make smaller incomes stretch further. Or perhaps you have things to save for so want to make some changes in your day to day spending habits. In this guide we aim to give you some frugal living tips and some ideas of how to cut some costs during this stressful time.
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1. Takeaway Coffee
As tasty as it is, Takeaway Coffee is an easy way to shave some pounds off of your monthly spending habits. A regular sized Cappuccino can set you back around at least £2.50 at one of the leading Coffee Chains meaning its easy to spend £10 a week or on coffee. If you don’t want to say goodbye to Barista Coffee totally why not invest in a coffee machine to allow you to make a cheaper cup in a travel mug before you set off for work? A machine can cost as little as £35 with pods working out at around 25p a cup – ten times less than the cost of one from a Coffee Chain.
2. Magazines and Newspapers
Whilst getting a Magazine each week can be a welcome escape from reality it could be that you feel you can do without it in this climate or perhaps you can get it in a digital format on iPad, Tablet or Kindle for less? Equally, if you really do not want to stop buying a Magazine from the Supermarket it could be significantly cheaper to sign up for a direct postal subscription instead.
Newspapers are often readily available online, some sites offer free access whereas some ask for a small fee in order to read the news. Either way, you could be quids in by stopping buying a daily paper from the Shop each morning.
3. Gym Memberships
Whilst many people get great value for money from their Gym Membership, it could be that in order to save money it is necessary to cancel or pause your membership. It is worth working out on average how many times per month you visit the Gym or Pool too to see if a pay per visit scheme is better value for you especially if you wanting to save some money. One trip to the gym per week may set you back just £6 and could be a preferable option than stopping altogether.
These days there are also thousands of free fitness videos to take advantage of on YouTube and other platforms meaning a home workout could be just as fulfilling!
4. Mobile Phone Upgrades
Whilst its tempting to upgrade your Mobile Phone to the latest model its actually incredibly cost effective to keep the same Mobile Phone for another year or two after the monthly contract expires. A SIM only deal could cost you as little as £8 a month from Three Mobile for Unlimited Minutes and Texts and 12GB Data (USwitch price as of 6th March 2021). If you are paying £40 a month for your phone and air time that’s a whopping £32 a month saved or £384 a year!
5. Television Subscriptions
It’s 2021, most of us have at least one subscription to a streaming service, but do we always really get our monies worth out of it? If you haven’t used it for a while, why not cancel it? The subscription can easily be reinstated in a month or two when the content has likely changed a little and in the mean time you could save somewhere between £7 and £20 per service. There is so much free content available on YouTube and Catch-up Apps that you may be surprised how little you need an additional streaming service. As a side note, just remember to look up TV Licensing laws in the UK to ensure you sticking to the law when using streaming services.
8. Grocery Shopping
Whilst most of us are creatures of habit, it could be that by breaking a habit and doing grocery shopping elsewhere could save you money. It could be that simple swaps from branded grocery items to shop own goods reduces your sped enough to stretch your budget to cover a few more meals over the week. However, if you are looking to compare prices of specific items then the Latest Deals App may help you. It aims to help consumers look at costings from six of the largest UK Supermarkets – Tesco, Asda, Sainsbury’s, Morrisons, Waitrose and Iceland. Meal planning is one of the best ways to save money on groceries as it ensures you only buy the foods you need to make the meals you want to make without falling foul of ‘bargain’ offers on foods you fancy rather than have a need for.
6. Household Bills
We are not for one minute suggesting you don’t pay your bills! However, it may be that you are able to cut back a little on your usage of utilities such as Water, Gas and Electric. Turning lights off that are not in use, not leaving the TV on Stand-By and turning the heating down the heating a degree or two may seem trivial but could save you money in the long term. We’ve written a guide to saving money on water usage that you can check out here. It is also a good idea to check periodically if you are getting the best deal you can – comparison sites are your friend!
7. New Clothes
Whilst clothes are quite obviously a necessity for us all and in particular, for growing children, it may be that you are able to save some cash on clothing. Clothes often last a lot longer than we realise and as a whole society is guilty of buying into fast fashion. Can you look for clothes in a cheaper store? How many times are you likely to wear that new outfit? Are you able to sell some of your old clothes that you don’t wear anymore? Charity shops and websites like eBay and Depop are fantastic for picking up some bargain clothes, often barely worn and just in need of a new home!
9. Haircuts and Beauty Treatments
Whilst its nice to feel like an absolute queen now and then with a long trip to the Beauty Salon it can come at a large cost. Try leaving it a few more weeks in between appointments or keeping manicures as a special occasion rather than a monthly or regular appointment. Alternatively, local colleges often have Salons where the public can get treatments for a fraction of the cost and at the same time help a student to gain more experience in their chosen vocation. Take a look at your local college’s website to see if this is available near you.
10. Print Copy Books
Unless you’re picking up a Book at your local Charity Shop for 50p Books can be expensive. Libraries are often in short supply these days but that doesn’t mean you can’t read the latest books or buy a new thriller. See if any friends want to swap books or check out the Kindle Book Store to see if you can pick up the Book you want in an electronic format for less. We know, its not the same as a paper copy and you can’t beat the smell of a freshly bought Book but if saving money is your aim its a way to keep the pennies secure a little longer!
