*Collaborative Post
The start of the year is always such a tough time when it comes to our finances. The holiday spending comes back to bite us as we deal with the hangover from treating ourselves and our loved ones. When the weather is bad and the days are short, it can be easy to feel like there is nothing that you can do to make that bank account look a bit healthier. But before you start hacking away carelessly at your spending, remember that there are always sensible steps that you can take to make sure that you are keeping a more watchful eye on your expenses.
Some people find it so easy to put a curb on their spending and start saving for the future. Other people find it much more of a struggle and simply do not understand where all their cash is going every month. We know that it can be easier said than done to save more, which is why we have put together this guide to help you make sure that you are seeing more money staying in your account in 2022.
Start By Getting Organised
One of the most important things to remember if you want to save money is that you cannot make a start if you do not understand your finances. It’s no good to simply say that you want to cut costs if you do not know what those costs are or when they are occurring. Now, online banking has made it very easy for everyone to look back at their financial history, and you should start by examining the last few months. Look at each and every one of your outgoing expenses. Make sure that you can account for each of them. Make a diary for each one of your regular payments, such as your mortgage or rent, your utility bills, and your insurance costs.
Look For Better Deals From Your Suppliers
We have no doubt that you will have seen the news about the rising energy costs this winter, but your energy suppliers are not the only companies that you should be thinking about switching from. It is always very easy to stick with a provider because it seems like more hassle to look for a better deal, but if you are trying to work on saving more, this is a step that you can’t afford to miss. So, use price comparison sites to see if you could be paying less somewhere else. Don’t be afraid to let your providers know that you are thinking about switching to see if they can offer you a better deal to entice you to stay.
When it comes to phone plans, one of the best ways to save costs is by going with a SIM-only plan. This way, you know that you won’t be paying for more than you are using, and you know that your bill will always be what you are expecting. You should also see if your provider offers any incentives for you to refer someone else. Lebara offers cash rewards for their users who refer a friend, as well as offering that friend a discount on their first three months. To learn more about their range of SIM-only plans and how to refer and earn with their loyalty plan, visit their website. Their plans run on Vodafone’s award-winning network, and you can cancel or change at any time.
Start Cutting The Little Things
Once you have a crystal-clear idea of where your money is going every month, you can start the process of trimming the fat. The best place to start is with those small regular costs that seem like incidentals. We are talking about that cup of coffee that you pick up on the way to work every day. The sandwich that you grab because you can’t get away from your desk for very long. These might seem like very little, but you can rest assured that they add up to a surprising amount on a monthly basis.
By making small tweaks, such as bringing your own food and drink with you from home, you will start to notice the difference. You can look at those expenses that you signed up for during the last couple of years that you no longer use, such as streaming services or subscriptions to food boxes. Those direct debit payments can really add up. Before you know it, you will be looking at serious changes in your monthly spending.
Consider Your Commute
At the moment, it seems like a lot of us may be working from home for the foreseeable future. With that in mind, it is worth thinking about how much you are using your car versus the costs that it takes to keep it and keep it running. Giving up your car may seem like a huge step but there is no denying the amount that you will save by doing so. If you are still going into work on a regular basis, then think about whether you could take public transport or walk or cycle to work. You could also think about a rideshare scheme to save on fuel costs.
Work On Your Food Budget
One of the biggest costs that a lot of us deal with is our food shopping. The first thing that you should do is try to cut down on those impulse purchases, which you can do by making a proper weekly plan. Know what you are going to be eating for dinner every week and think about how you can use leftovers. This is going to be especially important in 2022 with food prices set to continue increasing. Look at buying supermarket own brands and buy in bulk where you can. Look out for discount offers but think about whether you will use the products that you are buying or if you are just getting conned into thinking that it’s a good deal. Always check to see if there are any vouchers that you can use, and look for discount codes online before you shop.
