I am a thrifty person by default but even I have a few habits I could improve to get even better money saving score:-)
At the beginning of this month I prepared my money saving resolutions, I am going to share them with you now. I hope they will be inspiring & easy to replicate by yourself.
1. Prepare a household budget
Even though I know my income and outgoings by heart I do plan my budget… This is simply to see what is happening with my money and how to optimise my spent further
Internet is full of handy templates and apps which can help us prepare a household budget. Give it a go!
2. Switch to Save
It is surprising how many people have never switched their utility providers…You should look into it yourself, especially if your provider is one of these Big Six Energy (=the most expensive) companies : British Gas, Eon, nPower, EDF, Scottish Power or SSE. I use and monitor my prices here, you can read my old post explaining how to switch utilities hassle-free. Do not forget to switch bank accounts or mobile plans too. As I switched my utility suppliers a while ago, in 2017 I will focus on some more bank accounts switches. Check my latest post on this subject to see how much I was able to save in 2016 🙂
3. Continue matched betting
I came across matched betting in the middle of 2016 but sadly I didn’t make the most of it. Mainly because I was betting infrequently, so I am planning to change it this year, to earn more tax free. If you are not convinced to matched betting and still think its just risky gambling nothing more, read this post to understand it better before classifying it like that 🙂
4. Book holidays now
Portugal is believed to be the cheapest holiday destination for Britons this year according to Post Office Annual holiday cost barometer. Despite of that my friends and I we just booked a week in sunny Fuerteventura at the end of summer. We paid £346 for all inclusive stay in a 4-star hotel close to the beach. The return flights cost £134 so we spent in total £480 for a week of holidays where we technically do not have to spend a penny afterwards. This is not probably the cheapest but it is quality holidays and a result of 6 people compromise 🙂 Check this site to see similar ‘deals’ , check Skyscanner flights separately and work out what is cheaper to book a full package or just an accommodation and flights separately.
5. Quit TV
This will save me £145.50 per year and give plenty of time for blogging and reading 🙂
6. Explore share based ISAs/peer to peer lending
In the light of banks slashing the interest rates and benefits of the current and savings account it’s just about time to explore shares based ISAs e.g the Scottish Widow’s fund from Halifax. I convinced my partner to get such an ISA a year ago and the growth on it is 7% so far, so it’s my turn now.
7. Optimise my groceries spent
I want to shop more in cheaper supermarkets such as LIDL and at local markets for cheap and fresh fruits and veggies in bulk. I should also try to make the most of the reduced price items (food with the yellow labels sold for a much lower price @certain times from the afternoon throughout the evening). I am also growing to love grocery cashback apps such as GreenJinn which I try to use more often when I ocassionally pop in to Sainsburys.
8. Books buying
I got a Kindle reader for my birthday a month ago (yes I am a capricorn 😉 and I totally love it. So no more impulsive paperback buying for me this year. There wont be also much spent on e-books due to the fact that I get some money to spend for doing surveys via Google Opinion Rewards app and when scanning my grocery shopping as a part of Shop&Scan scheme – that way I am able to get at least £60/year, which I can spend on online and offline vouchers, so most of it will be probably spent on my Kindle books 🙂 As I am Amazon Prime member I am allowed to get 1 book for free from their Kindle Library – so looks like I will get 12 books for free this year on the top of those bought using my vouchers – sweet. I also get free books in an exchange for a review from Honestfew.com. If like me you are a book worm try any of these to get more books for free this year 🙂
9. Get Student Discounts
I am going to apply for a NUS card as I enrolled for some online course which makes me a student now :-). The card will save me money in many shops, so now it’s finally the high time to apply for it 🙂
10. Mystery Shopping
I would like to take up a mystery shopping as it seems to be a nice and easy way of earning some money while testing some products/services.
11. Sell unwanted belongings
I have at least a few unnecessary/unwanted items in my house, so I am hoping to sell them on eBay, Gumtree, Preloved or via Shpock app.
12. Master the art of minimalism
Ever since I started commuting to work on my motorcycle I became truly minimalistic – as it does limit me appearance – wise, so there is not much effort required these days. In my case motorcycling reinforced that good quality in me but there is always a room for improvement, so I do wish myself and you to master the ability to be minimalistic in 2017, when asking yourself below questions before purchasing anything really :
– do I really need it ?
– will I really use/wear this frequently ?
– is this crucial to my happiness/well-being/ credit- score rate ?
– do I have space in my house to use/store it ?
– is this going to be impulsive and emotional rather than rational purchase?