Wednesday, 7 February 2018

5 Easy Ways To Save Money


One of my goals for the year is to be more mindful when it comes to saving money! There are huge benefits for putting a little aside each month and saving for a particular event, such as a holiday can be incredibly motivating. However, in our current economic climate with high living costs, saving can be difficult!

Recent research conducted by Ferratum shows that ‘millennials’ (people born late in the 20th century) are more likely to take out short-term loans than previous generations. The study looked at 1,000 millennials and analsyed their spending habits and views on borrowing. With high living costs in the UK, millennials are also thought of as the first generation that will be poorer than their parents!

The survey discovered that over the Christmas 2017 period, 27% of millennials had planned on borrowing money to assist with their rise in spending. 48% of those interviewed borrowed money over a previous festive period. The study also revealed that 75% of young people (18-24 year olds) borrow money from family, with 23% opting for credit cards, 21% short-term loans and 23% overdrafts.

More worrying, the study revealed that a staggering 42% of millennials have hidden debt from their partner, friends, or family with 35% people afraid that their partner, friends, or family would find out about their debt. However, 55% would feel comfortable seeking mental health support online. I have seen friends suffer as a result of burdening debt and feel we need to talk more openly about finances.

Saving money is a skill but making small changes can go a long way. Here are 5 easy ways to save money. 


1. Walk
Avoid the car and public transport and walk where you can. Petrol, parking costs and public transport all add up and walking is free! Plus there are so many health benefits to walking. 

2. Buy in bulk and take advantage of offers
I live near several convenience stores which are so handy for popping into when I don’t have the time to visit the bigger supermarkets. However, I pay more for the convenience. When I do visit the larger supermarkets, I save a load of money by buying essentials such as pasta and rice in bulk. Take advantage of the half-price items and 3 for 2 offers and buy the budget/economy brands. Whenever looking for items shop around or search online to find the best prices. For example, at the moment I need some new curtains for my bedroom and know that Direct Blinds offer inexpensive and good quality products compared to other brands.

3. Avoid eating out and take food with you
A full day out with Pip can easily add up to ££ if I rely on eating out. I have to say I am guilty of this one because I enjoy eating out but I can easily spend a small fortune on meals and drinks. Reduce cafĂ© and restaurant costs by planning ahead and taking sandwiches, snacks and drinks with you.


4. DIY
DIY projects are a wonderful way to combine creativity with saving money. Now Pip is four years old he can design and write his own greetings cards for family and friends! It’s a lovely personal touch and a great way of saving money on buying pre-made cards. If you’re creative and have some time on your hands try repairing or altering clothes before getting rid of them and buying new clothes. Pinterest includes countless ideas and tips for clothes alterations!

5. Shop in charity shops/freecycle
There are a diverse range of charity shops across Brighton and Hove and I have found some amazing bargains. I’ve picked up affordable furniture, clothes and toys. Compared to brand new items I’ve saved so much money in this way. I’ve also found freebies on sites such as freecycle, including a freezer and carpet and I couldn’t recommended it enough!

This is a collaborative post. All words and opinions are my own. 
Do you have any quick saving money tips? I’d love to hear them. ☺







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3 comments

  1. Great tips, I'm doing a no spend month at the moment to try and save money. It's way harder than I thought it would be. Making sure I take food/snacks from home out with me has saved me quite a bit.

    Jenna at Tinyfootsteps x

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  2. All really great tips - for families, I think finding free / cheap days out is a great way to save money. And taking snacks and drinks out with you of course.

    Something that has helped me in adulthood is being mindful of not spending what I don't have - barring like a mortgage and uni loans for some etc. If I don't have the physical money for it, then I go without.

    The statistic for those who have hidden debt from loved ones really surprises me!

    Good luck with your money saving goals :-)

    ReplyDelete
  3. All great tips! Thrifty and DIY are our biggest ways to save.

    ReplyDelete

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