Are you wondering why your bank balance keeps mysteriously plummeting? Do you want to go into the summer with some money to go off on holiday? Try these great tips to save money whilst still not completely cutting yourself off from a social life.
Best Tips to save money
Buy Fresh Food
Cooking fresh ingredients is often healthier and will save money. When cooking yourself a meal it is often best to cook more than you need and save half for a meal later in the week, or freeze it for a convenient meal another time. Another real money saver (as well as a healthy option) is cutting out meat on certain days of the week.
Opt for Water
Instead of completely abstaining from meals out and putting your social life at risk, try drinking tap water at cafes and restaurants instead of alcoholic or other expensive drinks. It is also a wise option to drink soft drinks or water between alcoholic drinks on nights out.
Wait a day before you make a purchase.
This is crucial for big purchases. Impulse buying is a major contribution to why our bank accounts aren’t where they should be, so If you really want to buy something, wait a day or longer and see how you feel then. Chances are that you’ll be less tempted to make the purchase, unless it is something you really need.
Learn How to Mend Clothes
This is a trend which has grown in these days of economic uncertainty and people looking to get more value out of items they have invested in. Instead of running to Primark every time you get a tear in your dress, get the sewing kit out. You can also save money by buying quality in the first place rather than requiring a whole new wardrobe every few months.
Treat yourself once in a while.
The psychology of impulse buying and over-spending is quite complex and interesting, but a lot of it can be curbed by positive reinforcement. Rewarding yourself, sparingly, is a great method for maintaining control of your finances without going overboard. Set rules for yourself, but don’t be afraid to give yourself a break when appropriate.
This idea of spending more initially to save long-term also works for buying items in bulk. Shops such as Costco and Makro are great for handy things like kitchen foil and toilet roll, but you can also go for bulk-buying in ordinary supermarkets.
Is it necessary to use up all your data to check your Instagram feed whilst walking to lectures? Turn off your mobile data when it is not needed to save extra charges on your contract. There aren’t many places these days that do not provide free wifi.
If you do pay your bills and they’re not included in your rent as with Urbanest accommodation, you may want to take measures such as only filling up a kettle with the amount of water you need and limiting the time you take in the shower.
It’s surprising how much money you don’t know you are spending on your electric bills by leaving appliances on standby instead of switching them completely off. Get into the habit of switching things off at the plug sockets and watch your bills go down.
Low Temperature Washing
It is unusual for it to be necessary for clothes to be wash at anything higher than 30 degrees. Again, this will save money on your energy bills.
No-one enjoys taking public transport. When you have the time and energy, walk to where you need to go – it will help you discover new places around where you live.
Need a Phone Contract?
This is quite an extreme measure but is it necessary to have a phone contract anymore? With apps like Viber, WhatsApp and Facebook Messenger and the ubiquity of free wi-fi, it is as easy to keep in contact with people online just using your device.
Try these life hacks yourself and see how much healthier your bank balance looks after a month.
This is a given for some people, but you may be the type of person who falls in love with the first option they see for a purchase. Exercise some financial discipline and visit other stores (or even online) to compare prices and features. You may find that what you were about to drop significant funds for can be find way cheaper, or better, somewhere else.
Cook instead of eating out.
We forget this when we opt out of planning our meals. Organize your week by determining when you’ll have time to prepare a meal and stick to it. You can then purchase your groceries for that meal and save a ton of money.
If time isn’t on your side, try cooking a lot of food on a day with more free-time. You can use this food for dinners and lunches, as long as you freeze what you’ve cooked.
Sure, we typically reserve theater visits for weekend dates, but you should also consider watching the matinee in order to save money, especially if you watch movies every weekend. In some theaters, tickets can actually be up to $5 cheaper for the matinee. For families, that means you’re potentially saving $20 per visit just by watching the same movie a little earlier.