Saving money is a huge priority for a lot of people right now. It feels as though everything is rising rapidly. From grocery costs to energy, the current situation is frightening to deal with, especially for low-income families.
While there are different options for those struggling with the cost of living, there are steps you can take yourself too. Take a look at the following cost of living savings ideas that could help you save a lot of money.
Cut back your outgoings
You may already be making tough choices about your outgoings and looking where you can cut back.
From finding ways to cut down on energy use to getting rid of TV and other subscription packages. A lot of people are having to find ways to make cuts.
If you can, do some comparisons on your expenses like insurance, broadband, etc. to see if you can save. You may also want to consider teaming up and moving in with someone else to help lower your expenses.
Buy to Let Mortgages with LDNfinance could give you the flexibility to rent out your place while you move in with a partner, friend or family member and help each other out.
These big changes will hopefully only be for the short-term but could make a difference for now.
Challenge yourself to save on groceries
Food costs are amongst the fastest to rise, and you won’t be alone in feeling like you’re getting less for your money each week.
Now is the time to challenge yourself to save on groceries so you can still eat a healthy, varied diet each week without having to break the bank.
Try out some tips for reducing your food bill to see if you can enjoy regular savings. Even making some brand swaps could help you cut your bill each week.
Cut your car costs
Cars are generally expensive to run, but using yours less right now could help you save some money that could be put to better use.
One of the biggest ways of cutting car costs is simply to use your car less. If you can, switch to walking to help you boost your health while also helping the environment too.
You might also want to think about selling your car for a cheaper model, or slimming down the number of cars in your household.
Make your money go further through rewards and vouchers
Vouchers and reward schemes can be a great way to save money, provided you use them sensibly.
While a discount code is always a good incentive to shop (that’s the point!), you should only use them for items you were going to be anyway.
Avoid the temptation of spending just because you’ve been handed a tempting deal. Take a look at some of the best loyalty schemes that really could help you save money by being a member.
Saving money isn’t easy, but if you’re prepared to make some changes, you could help find the savings you need.
Remember to look out for help and advice that can help you save money over the coming months and take advantage of any savings opportunities that come your way.