Living in the UK could be an expensive experience for people belonging from any walk of life. While spending lavishly after recently relocating to the UK could sound like a far-fetched dream, it does not imply that you will have to keep on living the same way for the rest of your time here!
The secret tip to earn a lavish life here in the UK is to sacrifice and spend wisely for some of the initial years. Once you get the hang of all the expenses that usually occur regularly, you will eventually learn to spend wisely and save for a better future.
But, the most important, million-dollar (pun intended!) question over here is – how does one learn easy ways to save money? After all, half of your salary might be going into paying for your utility bills or buying groceries throughout the month. Where does saving or investing some amount of this money get involved in the equation, then?
Well, turns out, there are several easy tips and tricks that could make you learn the basics of saving conveniently. So, without any further delay, let us explore what these super easy and hassle-free ways to save money have in store for us! Let us hope they end up making life a bit easier and productive for us – in terms of money, at least!
# 1: Open A Savings Account
The best way to save money is to simply open a savings account in the same bank or maybe another bank and do yourself a favor of ‘depositing and forgetting’ about all the amount that goes in this particular account. Another ideal option would be to refrain from ordering a debit/credit card for this account so that you do not indulge in any ‘creative’ shopping habits from this money!
# 2: Track Your Money
We might consider ourselves smart when it comes to spending money wisely. But are we, really? You should make it a habit of noting down every single expense that you make during the month.
When that month gets over, you should keep an eye over which purchase was necessary and which one was direly needed. This helps you save from many excessive or extra purchases in the following months – that is, if you are equally willing to save too!
# 3: Cut Off Unnecessary Subscriptions!
Now, seriously! What is the point of going for subscriptions of Netflix, Amazon Prime, Hulu, and everything else when you hardly get time to binge-watch any of your favorite shows? Nothing but another extra purchase? Keeping any one of the above-given options would be enough too, provided nearly all the shows get added in either of them sooner or later!
# 4: Live Lavishly Tomorrow
If you save today, you will be able to enjoy the benefits of it tomorrow. Now this tip is not meant to be a spoilsport here but only meant to teach you that it is okay to go a bit overboard and party out when you want to, but just don’t make it a habit unless you have become sure that you have achieved your savings target for the month!
# 5: Avoid Becoming A Spendthrift Person
It is great if you love having your daily dose of coffee from Starbucks, but don’t there exist thousands of other ‘quick fix’ brands that claim to give you almost the same, or sometimes even better experience at home? Talking about the ready-to-make coffee mixes here – they would give you the same required dose of coffee and that too, for several days after you have bought it from the store.
The same applies to food and other extra things that you spend money on. It is best if you start controlling your impulses and spend time saving the money spent on them instead.
# 6: Declutter Often
There are frequently some items that we buy for designing and beautifying our house, but at the end of the day, we either get bored of them or want to replace them with something modern and new. In such a situation, it would be a wise option to sell off this ‘discarded’ item and not ‘adjust’ it anywhere else in the house. Use the money you make from selling it to buy a cheaper item instead. Confused how? Check out these amazing tips guiding you how to sell on eBay and Amazon!
# 7: Save Together
If you live together with your family, then it is great for everyone to contribute to the savings plan and each month, every member has to deposit a fixed amount for that purpose. This money could then be used as your family’s emergency fund.
# 8: Unsubscribe!
If you have a favorite store and have signed up for its emails or newsletters from interesting places that you dote upon, then unsubscribing from them might prove to be a refreshing change on both your impulses and wallet in terms of saving!
# 9: Garage Sale
There are many small and big items within the house that we do not use anymore. Even if they are of no use to us, they could be of immense importance to someone else. Therefore, holding a garage sale every month or so could help you in getting rid of extra stuff within your house, all the while making some money out of it as well!
# 10: Use Cash More
Many people rely on their Debit or Credit Cards while shopping. While it is a handy method, it makes you stay out of focus with how much money you are (over)spending. Therefore, it is great to rely more on your cash instead of cards as a preliminary step towards spending wisely.
# 11: DIY For The Win
Instead of hiring plumbers, carpenters, electricians for doing your work, how about you give DIY a try? Try Youtube for quick fixes and save the money you would have spent on getting things fixed instead! If you want to take it to the next level you can sign up for an online course such as an electrician training course.
# 12: Sale Season
You might have been saving a lot for a particular designer dress that you had your eyes on, but is that dress really worth it? You can easily buy several articles at the price of a designer dress from a sale or discounted deal instead. Remember: you have to spend wisely and smartly!
# 13: Say No To Online Shopping
Out of all the time you spend admiring online stores, the majority of the purchases that you make during this time are based upon nothing but impulsive buying urges. Therefore, try replacing this ‘stalking’ time with doing something inspirational or enjoyable instead.
# 14: Thoughtful DIY Gifts
The power of a DIY gift is unestimated. Not only is this way a means of putting your creativity to use but it is also a way of letting your friends and family know how much you care about them. So, how about gifting your aunt a hand-woven basket with some baked goods in it?
# 15: Cable and Internet Plans
Instead of opting for a different cable and internet service, there is always an option to bundle both of them and pay for them as a package instead of doing that separately. Doing so would indeed be lighter on your pocket. In case, you are looking for a pocket-friendly option, Uswitch might just be the right place for you!
# 16: 24-Hour Rule
It may sound childish, but it actually works! Set up a rule for yourself that you will not buy anything within 24 hours of purchasing another thing. Even though it is a very small step, it would contribute greatly towards you saving money for a better tomorrow.
# 17: Settle Your Priorities
Are you looking for a particular book? Why not borrow it from a friend who might have it or issue it from the library? Just like this book problem, there are several problems that can easily be resolved for free instead of paying money to get them solved!
# 18: Swap n’ Sell
People love swapping items for it brings them sentimental value. You can absolutely go for the same and swap clothing, daily use, and other items with your friends and relatives. This way, both will get things of their use along with increasing the warmth and love between your relations.
# 19: Switch The Cinema For Home Theatre
Thanks to the internet, the sky has become the limit for all of us! There are endless options available for streaming movies and seasons online for free. So, why pay money for the cinema when you can pull an all-nighter with your friends by setting up a home theatre? Here are a few budget-friendly bright home theatre options that you can buy for your home! If you want to stream your favorite Netflix movies in your home theatre make sure to use a proper VPN. Check out this guide to find the best Netflix VPN for you.
# 20: Lunch Money
If you are a working person and rely on buying lunch from your workplace, then switch towards a healthier alternative – pack your lunch from home! This way your lunch would not only be healthier but also fresher and something that you would indeed enjoy eating!
# 21: Save Electricity
As you step towards a smart, cost-effective life, saving electricity would be a very smart first step that would ensure that your bill is not an overpriced and expensive one.
# 22: Commute Wisely
If your next stop is within walking distance, then walk indeed! What is the use of spending extra money just because you feel lazy? Burn those calories and opt for walking!
# 23: Make A Plan
Of course, there is no point in saving anything if you do not have a plan. Keep your budget and everything planned and from this part, dedicate a portion to saving money each month or so.
# 24: Organise your Expenses
Organise your expenses and make sure you stick to your plan. Do not overspend just because you think that you would be able to save more somewhere else. Pre-planned expenses help more than spontaneous ones.
# 25: Research
It is always good to research and learn what the experts say about a particular topic. Several online platforms are available for helping people out with their problems.
If you still want to look at other options that help people save money, then do check out these 50 smart and awesome money-saving hacks!
And so, these were some quick and easy ways to save money at home while living in the UK. Take one day at a time and you will finally be able to master the art of saving more and spending less!