15 Simple Tips To Save Money

If you are looking for simple tips to save money you are not alone. With rising costs our cash is disappearing at an alarming rate and we need ways to hold onto it a bit longer.

When we get paid, most of us watch as the money flies out of our bank accounts to pay the household bills and living expenses.

To help you out I have put together 15 quick and easy tips to save money and help you keep hold of more cash.

1. Save as soon as you get paid

Most people pay their bills, spend their hard earned cash and hope that there is some left at the end of the month to save.

A lot of the time you will find that the money runs out and your savings account is still empty.

The most consistent and efficient way to save is to pay into your savings account as soon as you are paid. This removes the temptation to spend (or waste) any extra money in your bank account. Doing this can quickly build a good amount of money.

Obviously not everyone will have any spare cash to do this but if you have, you will soon reap the benefits with this method.

If you don’t have any spare cash, keep reading to find some tips to save money that you can put into practice.

2. Create an emergency fund

This links in with the previous tip.

Saving some money as soon as you are paid is a great start.

Another thing to do is to create an emergency fund. If you can save up an amount which equals 3-6 months of your expenses this will take a lot of financial pressure from your life.

Any unexpected bills can be paid from this fund. It can ease the worry if you were to suddenly lose your job or be unable to work through illness or accident.

If you do need to dip into this fund for any reason make sure you top it back up as soon as possible.

But remember this money is for emergencies only and not the new mobile phone or TV that you have seen!

3. Don’t have debt

Avoid debt whenever possible. Paying interest on your debts will take a lot of your cash and the debt can take years to pay off.

If you have any savings always use these first before committing to debt. If debt is the only option make sure the item you are purchasing with the debt is absolutely necessary.

4. Transfer credit cards to 0%

If you have credit cards that you can’t pay off immediately you could try transferring them to a 0% interest credit card.

These type of cards usually come with a fee to transfer over so always take this into account.

If you transfer to a new 0% interest card make sure you stop using the old one to prevent racking up more debt.

5. Don’t panic buy – Use the 30 day rule

When you are making a large purchase don’t rush out and buy it straight away. Even if you have the money, give yourself 30 days to think about it.

This avoids the ‘shiny object syndrome’. Sometimes when you see something you really want it and buy it without thinking.

Giving yourself 30 days to think about it gives you a clearer head to make the decision.

If you don’t think you need it after 30 days you have saved yourself some money.

6. Use cash

Try to use cash for your purchases. When I say ‘use cash’ that doesn’t necessarily mean actual physical notes. It could be on your debit card for example.

Whether you use physical cash or debit card it still means you are using money that you actually have either in your hand or in your bank account.

This means you aren’t risking getting into debt and it will make you think more about what you are spending and if you need to spend the money at all.

7. Cancel subscriptions that you don’t need

We all subscribe to different things from time to time. This could be a gym membership or TV subscription for example.

Quite often we don’t think about them or consider how much we use them.

Take a look at all your monthly subscriptions and think about how much you use them and consider whether you actually need them at all.

Any subscriptions that you don’t need can be cancelled.

8. Lower subscription costs

As I have just mentioned about cancelling unused subscriptions, it is also worth trying to lower any subscription costs for any that you do need.

Subscriptions like TV and broadband can often be negotiated lower depending on your contract situation.

It is always worth making a few phone calls and asking if you can get a cheaper price.

Always be persistent and don’t be afraid to tell them that you would like to cancel as they will often offer a cheaper price in this instance.

I recently lowered my TV subscription by almost 50% by spending a few minutes on a phone call.

If your current supplier won’t give a discount and you are not tied into a contract, try contacting an alternative company and see what they will offer.

9. Use energy efficient products

Using energy efficient products can save lot’s of money on energy bills.

Simply changing light bulbs or buying energy efficient appliances can soon add up to a good saving.

Despite a higher initial cost products like LED light bulbs will not only use less energy but also last longer saving you much more in the long term.

Need LED light bulbs?

Check out some prices here and start saving money

10. Fit a smart meter

When you are looking for tips to save money having a smart meter fitted in your home is one of the easiest.

A smart meter will allow you to keep an eye on your energy consumption.

When you can see what energy is being used you are more inclined to be more efficient with it.

Switching off lights, TV’s and other products can soon start to lower your bills.

Your energy supplier will usually install a smart meter for free so it is worth having one fitted.

11. Keep track of your spending

Another way to save money is to keep track of your spending.

When you know exactly how much money is going out each month and where it is going it is easier to work out where you can make savings and where you are wasting money.

This will allow you to take action and cut down on unnecessary expenses.

Create a spreadsheet or even just write it down in a notebook. It doesn’t matter as long as you can easily see your outgoings.

12. Use cheaper brands

Do you have certain food brands that you buy every time? Most people do but you could be spending way more than you need to.

Next time you do your shopping, instead of choosing your usual brand choose the next price level down. You might be pleasantly surprised that there isn’t much difference (except the price).

Once you have done this you can keep going down to the next level and see if you can save even more.

Eventually you will find the right balance between cost and quality for everything that you buy.

The savings will soon add up.

13. Plan your meals

Planning your meals will help you to waste less food and save you money.

By making a plan you will know exactly what food you need to buy and how much. This will stop you spending money on food that you don’t need and you won’t have food that doesn’t get used.

Millions of pounds worth of food is wasted each year and we quite often don’t notice how much we throw away.

Being more efficient with your meal planning can make a big difference.

14. Use your own shopping bags

Now you might think that spending a small amount on a shopping bag isn’t going to make a difference. The truth is every penny that you save can help.

It is easy to take your own bags with you to the supermarket and the savings over the year will make a difference.

You are also helping the environment so what have you got to lose.

15. Use your car less

We often just jump in the car without thinking. If you stop and consider whether there is an alternative you could save some money.

Could you walk to where you are going or even cycle. It might be possible to work from home instead of driving to work everyday. You might want to consider whether you even need a car at all.

Think about how and when you use your car and always look for lower cost alternatives.

Always look for tips to save money

I hope these 15 tips to save money have helped you out and got you thinking about other ways to save.

Every time we spend money there is probably a cheaper option. Always try to find it and you will soon streamline your spending and lower your outgoings.

If you found this useful you might want to check out the other money saving tips on this website. You can find more here.

*The content on this website may contain affiliate links. If you sign up or purchase products or services through these links I may receive a small payment at no extra cost to you. Sometimes you may receive a discount for using these links. If you do make a purchase through my affiliate links then THANK YOU for supporting this website and allowing me to produce free content for your enjoyment.