Here is a list of some money saving tips that we think are worth a look.
Set-up automatic savings:
Saving through automatic savings is an easy and convenient way to save. To set-up automatic savings, instruct your bank to take a certain percentage directly from your paycheck and deposit it in your savings account. It will be a little hard at first as you are effectively getting a reduction in your paycheck but you will adjust to your new income over time. This way you are ensuring you save first before you allocate your paycheck towards expenses.
Don’t try to be over ambitious and save an unsustainable amount. Start small and work your way to an amount you are comfortable with and can be maintained over long-term.
Make a budget, if you haven’t done so already, and budget an amount for saving. Budgeting is a great money management tool and will help unlock savings that you can put towards achieving your saving goals.
Review your car and home insurance:
Be ready to shop around when your car and home insurance are up for renewal. You may have gotten a good deal with your current insurer but that may not be the case anymore. Shop around and see if you can get a lower rate, you may be surprised how much you can save by being willing to switch.
Review your cable:
Do you still need cable? Does your cable package still make sense for you? With Netflix and other streaming services, you may realize that you no longer need cable. You can unlock significant savings by reviewing your cable package.
Review your landline:
We all have cell phones and we carry them around with us everywhere. So do you still need that landline? Even if you need a landline there are cheaper options than using a traditional landline. VOIP are much cheaper with excellent call quality if you use the right service. There are a lot of options when it comes to VOIP and they are a lot cheaper that your traditional landline.
Make your own lunch:
Instead of buying lunch every day consider making your own lunch. Take your leftovers for lunch the next day. This is a great way to save a little extra every day.