Why Saving Money seems like a mirage sometimes? Let's find this out together.
It is always a hot topic when it comes to Saving Money. Some people just manage to do it easily and naturally, for some others it is a real struggle instead.
The questions occur automatically then: What am I doing wrong? Why other people can do it even though earning less? Therefore...What shall I do to change this? MostReviewed it's here to help you on doing with a few small tips that might change this forever.
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Track your spending
No matter how much you earn, one thing is sure: you should know exactly where your money is going until the last penny.
Record and budget. Whether you create a spreadsheet or write it down on a notepad or on your phone, you need to have every single of your spending recorded so that you won't miss any.
If it makes it easier, you could even use some really simple App or software (many of them are FREE!) that would do most of the job for you.
We definitely recommend trying this one to help you budget your money, easy to use and free!
Budgeting is another fundamental way to save money. It will give you a full and clear picture of how much you have got left after regular expenses, bills and so on. I did not believe this was so essential until I start doing it myself! Here few main points to follow when it comes to budgeting:
- Calculate your net income, then divide it by using the 50/30/20 rule (Needs, Wants, Savings/Debts)
- Set a SMART goal
- Adjust your spending accordingly
- Review your plan regularly
Savings need to be part of your budget!
Spend to Save
An easier way of Saving Money is by actually earning money back or paying less for the same product. Always look out for coupons, cashback offers, and referrals!
Really often people underestimate how powerful these saving money options can be. Don't!
"It's only 2-3% less - just a few pounds difference - not going to sign up just to get £5 off".. Common and daily sentences, likely to be coming from the same people who keep saying they cannot manage to save money and desperately waiting for the next payday. Here comes the mistake.
All those little numbers and percentages, will initially seem pointless and not worth it even a try. On the contrary, if summed up for whole months or years of doing it, they could make a huge difference and drastically cut down your spending and support you in moving that money into the savings pot instead!
Don't wait any longer, start saving your money today!
Here below are some of the still active offers that we tried ourselves and saved hundred of pounds!
Hurry up though these are limited time only!
Other smart hacks that will help you Saving Money significantly
Review your spending at the supermarket.
The average household spends £63.70 a week on food and non-alcoholic drinks, according to the Office for National Statistics (ONS).
- Look out for offers and deals
- Compare the prices between different shops
- Consider buying locally rather than in High Street brands
- Set a daily, weekly or monthly budget
- Plan your meals, and prep in advance - buy only what you need for those
- Do not let shelves indulge you in something you don't need! (no unnecessary Wants!)
If you could shave £5 per week off your supermarket bill, you’d save over £250 a year. Shave £10 off per week and you’d save over £500 a year.
Here is your chance to have £300 worth of Tesco Vouchers, it only takes a couple of minutes to register but could give you a whole month of free shopping! We did it too!
Avoid having your money spread out in different accounts and paying fees when travelling.
- Look out for 'easy to open' online accounts that will allow you to connect all your accounts in one.
- Revolut offers all of this in one and it literally takes a few mins to sign up.
- Easy budgeting within the App, at your fingertips.
- Exchange your money for the local currency of the country you are travelling to and say goodbye to those annoying fees.
- You can also invite your friend and get money for each of them who signs up.
- Tens of cashback offers are available when you use your account to shop online, including brands like Amazon - Adidas - Boots - JD Sport and many more!
- Invest your savings in stocks and cryptos and watch your money grow!
This is not a sponsored post, just a guideline from MostReviewed.co.uk