We all feel a little stretched nowadays with the cost of living continuing to rise and while you may not live extravagantly, all the little things do add up. In this short article we take a look at how saving on the little things can help you save for the big things.
That might be a new car, a deposit for a new home or just an emergency fund set aside for when the washing machine breaks down or you need to carry out some emergency repairs.
If you don’t already, it’s time to start operating a weekly budget when it comes to food shopping and the easiest and best way of doing this is to plan your meals in advance. Take into account breakfasts and any packed lunches and snacks that you need to to avoid buying any extras that soon mount up and cost you a fortune.
If you have time you’ll be able to run your weekly list through a supermarket comparison site to spot any savings that are to be made and don’t forget to use your loyalty cards to build up points and ultimately savings. Some supermarkets also offer swap schemes where you can transfer your points for experiences instead of groceries, for example a family day out at a theme park.
Avoid paying out on plastic bags too, by always taking your own.
The simple way of saving is to shop around and this might not always be on price comparison sites. You’ll want to also visit individual insurers, such as https://budgetboost.co/usaa-insurance-review/ and even consider talking to a broker about finding a deal that is tailored to your individual circumstances.
Now is the time to take a look through your accounts and get a closer picture of what’s going on. What are you paying out on each month that has become surplus to requirements? There will almost certainly be direct debits that are expiring such as old insurance or product guarantees, so scrutinize your accounts carefully to see what can go. Then you’ll need to see if your must-have payment can be made less.
Change up the gym membership, downgrade your TV and internet package or consider downsizing your car. All these things will free up money each month which can then be transferred into your savings account. Make sure you have a direct debit set up so saving is automatic rather than relies on you remembering. Some banks offer a sweeper service where any extra cash left after a certain date is automatically swept into a savings account.
Saving and changing the way you do things is difficult and so much of the time there seem to be things that get in the way. An unforeseen expense here or a little luxury there but with consistent changes and regular saving set up, that little pile will grow and that dream holiday, that fabulous house or new car will be well within your reach.