The cost of living is increasing, and many families are tightening their belts. If you’re trying to save money on household expenses, here are some tips to make your money stretch further.
Check your bank statements
In the age of contactless payments and direct debits, it can be tricky to keep track of where your money goes. Many of us are guilty of making payments without really thinking about it and spending money on things we don’t need. Try to track spending by using online banking and make sure you check your statements regularly. Go through your statements and highlight areas where you could make savings. Are you shocked at how much you spent on takeaways last month, has your grocery bill increased dramatically, or are you paying for a gym membership you don’t use or a subscription that you’d forgotten about? Cancel standing orders for memberships or subscriptions you don’t want anymore and set yourself a monthly budget for food and luxury items. This will help you regulate spending and lower your expenses.
One of the simplest, fastest and most effective ways to make your pennies go further is to compare prices. Thanks to comparison websites, you can save on everything from car insurance, energy and boiler cover to buying clothes, pet supplies and electrical items. If you have insurance policies that are due for renewal, or you’re interested in taking out additional protection, such as cover for your boiler, use a comparison site to find the best deals. It takes a few minutes to enter your details and you can filter the results based on your requirements and your budget. If you’re buying products, use search engines to compare prices from different retailers. You can use keywords or product codes to find the lowest prices and the best offers.
Sign up for deals and discounts
It seems as though every bill is going up at the moment, but there are ways to save. Signing up to discount websites and following brands on social media can help you to save on items you buy frequently or one-off purchases and enable you to access flash sales and exclusive offers. If you have young children, for example, and you buy nappies in bulk, it’s worth waiting until there are offers available from retailers so that you can stock up at a lower price. Many sites allow you to create a wishlist, so you can save items and then complete your order and pay when there is a sale on or a discount code available. Discount websites can help you to save money on everything from clothing, shoes and toiletries to days out, restaurant meals and holidays.
It’s no secret that it has become increasingly difficult to cover bills and save money. The cost of living is increasing and many families are feeling the pinch. If you’re looking for simple, effective ways to make your money stretch further, analyse your statements, set spending limits and cancel subscriptions and memberships you don’t use and compare prices. Sign up for deals and offers and shop around to find the best discounts.