Saving 4000 in a year sounds impossible right? It doesn’t have to be! All it takes is a little bit of cutting back and focusing on your spending to get your bank statements looking much more appealing. The little things add up and cutting back shouldn’t mean you’re missing out. I’ve piled together a few simple strategies that will help you save money without even realising it.
No More Bottled Water
Are you one of those who constantly has a water bottle in her hand or on her desk? I know I used to be. We’re lucky enough to live in a country where tap water is safe to drink and free! It’s best to purchase refillable water bottle (for £5-£10 in most supermarkets) and just keep filling it up.
99p on a water bottle doesn’t seem excessive at all but when you work out that’s 5 times a week the cost begins to build up.
Potential Yearly Saving: £200-£300
Only Use Free ATMs
I wholeheartedly disagree with paying to withdraw your own money. You work hard for your money so why should you have to pay for it? Nevertheless there are cash machines on every corner charging anywhere between £2 and £3 to withdraw. If you know you’re going somewhere that you’ll need cash, try to plan ahead and visit a free cash machine beforehand.
Potential Yearly Saving: £100-£200
Make Your Own Gifts
A great way of saving money during those busy calendar months when absolutely everybody seems to be celebrating a birthday or special occasion is to simply make your own gifts. As long as you make sure to make the gifts look thoughtful (not cheap) your friends and family will love the personal touch.
Admittedly, I’m not very crafty so I tend to make personalised hampers for my friends’ birthdays. You can buy the baskets pretty cheap and can fill them for less than a fiver! I’ll fill them with bath bubbles, facemasks, lotions and maybe a book or DVD depending on the person.
Potential Yearly Saving: £300+
Invite Friends Over Instead Of Going Out
We all love a good visit to the pub with our friends on Friday night, or a meal in a fancy restaurant on a Saturday evening but eating out is costly! Why not arrange with your friends to hold weekly sessions at each of their houses, that way you’ll save money not only on food and drink but also on transport. At least this way you get to socialize and spend time with your loved ones without breaking the bank!
Potential Yearly Saving: £1000-£2000
Price Compare On Your Weekly Shop
It’s no secret that different supermarkets sell items at different prices. An easy way to research this is to check online comparison sites an seeing for yourself. You can enter your whole weekly shopping list on most and they’ll tell you which is cheapest to buy from. An odd 20p here and there might not sound like a lot but when it’s bulk up in your trolley it can equate to a small fortune!
Potential Yearly Saving: £30-50
Cancel Unused Memberships
We’re all guilty of it. January comes around so you follow the rest of the herd and sign up to the local gym in hopes of becoming the super fit human you see in the Sports magazines, only to go 5 times in the first week and never again. I know you don’t want to ‘just in case’ you decide to go again but it’s time to cancel. Same with the monthly subscription to Cosmo – you can read it for free online!
It’s worth noting than many gyms have you sign a contract when you join and there’s usually a notice period you’ll need to give to leave (usually 1-2 months) so make sure you read the fine print beforehand!
Potential Yearly Saving: £600-£900
There are essentially tonnes of ways you can cut back and save money, I think it’s just all down to how much you actually want to save money. If you’re dedicated and committed you could probably save a lot more. It’s definitely worth giving some of these a go and seeing where you could be financially this time next year. Let me know how you get on and feel free to make any suggestions in the comments below.