If there are two things we know that we could use more of, it’s time and money. For most of us, it seems that no matter what you do, you never seem to have enough of either. While creating extra time is something we, unfortunately, cannot help with, saving you some extra money is.
In this post, we are going to take a comprehensive look at a few ways you can make and save some extra money throughout the year. Should you choose to follow our simple tips, you may find that by this time next year, you are in a much better financial situation.
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Why It’s More Important Than Ever to Save
In the present economy, there seems to be an increasing pressure on us financially that can be quite hard for some people to take. While money can lead to a wealth of problems, from time to time, should you make a few changes in your life, you will find that you are able to manage your finances better and even increase your income a little.
There is so much importance nowadays attached to finding extra ways to save money because let’s face it, the more you have, the easier life is going to be. Saving money is also incredibly important when it comes to future planning.
While we cannot predict the future, we should always be taking steps that can ensure that should a situation occur that requires a cash injection, you will have some savings tucked away that will allow you to tackle the situation at hand more comfortably.
So whether you are looking to make some drastic financial changes so you can live more comfortably, or maybe you are just trying to put a little away for a vacation next year, whatever you may need it for, hopefully, this post will be able to help.
Don’t Wait Until The Last Minute
It doesn’t matter where you live in the world, one of the biggest mistakes you will ever make is waiting until the last minute to buy things.
What do we mean by this? Well, more often than not, when it comes to things like Christmas and birthdays, we have a habit of waiting until the very last minute until we buy items for them. We have all walked by an item on a shop shelf and though, I can get that for Arnold’s birthday when it comes around, what you should be doing is whenever you see it cheap, you should get it.
If you simply set out a little cash every month and then buy everything you need during the sales, you will find that over the course of a year, you will save a small fortune. For example, if you look at the prices of cards, wrapping paper and even LED christmas trees in January, you will pay so much less than you will after September.
The early parts of the year are always going to be best when it comes to shopping, and you should also be careful of that one sale that everybody waits for. Items are extremely cheap at the beginning of the year, not only because stores are clearing out the stock they held over the festive season, but they will also be making room for the next seasons stock.
One huge mistake people often make is that when it comes to Christmas shopping, they wait until Black Friday. What most people don’t realise is, they are quite often buying rubbish for more than it’s worth. In the UK, for example, many businesses raise the price of their cheaper items in the run-up to Black Friday by huge amounts and then reduce them to make it look like people are getting a great deal. In truth, most of the time, you will be paying more on Black Friday than you would on any regular Wednesday, so do be careful.
Food Shop Carefully
If you really want to see a huge difference to your bank account, then one of the best things you can do is plan your food shopping a little more carefully. One of the biggest issues nowadays when it comes to waste is all down to food. While you may see a lot of coverage on the news about how much we throw away, let’s really break down the facts, shall we?
The UK is throwing away £13 billion of food every year. If we break this down into a more digestible figure, we take that 13 billion and divide it by the 23 million homes that are lived in, in the United Kingdom, we are left with a figure of £525. This means that on average, every home in the UK is quite literally throwing away £525 per year.
So how do you stop this? Well, it’s far easier than you may think. One of the first things you need to do is meal plan. When you meal plan, you are able to get to grips with the amount of food you will consume in a week. What most people have a habit of doing is heading shopping and piling their trolley to the top and having no clue when they are going to eat the food. By simply planning ahead, you will not be so frivolous when you shop, and you will only buy what you need. When you have bought what you need, it’s also a great idea to pre-portion your food, just so you can get to grips with the exact amount of food you will be using. Doing this may seem a little tedious at first, but you will soon start to see that you are saving quite a lot of money on a monthly basis.
Monitor What You Use Around The House
The final thing we are going to look at today is how we monitor our usage of things at home. While we have looked at food, we haven’t seen the importance of monitoring your home appliances and energy usage. It comes as a surprise to a lot of people that simply dropping your heating levels and turning off lights and plugs when they are unused can save you an incredible amount of money over the space of a year.
If you really want to see the benefits of this, one of the best things you can do, especially if you are a parent, is to assign one of your little ones the task of being an energy champion. By taking a simple step like this, you will not only be helping your bank balance; you will also be helping the environment.
If you find that you like the amount you are saving on energy bills, there are now schemes that encourage you to have solar panels fitted. While you may not get the benefit of them right away, fitting solar panels can be one of the best long term solutions for saving both money and the planet.
So, there you have it, this has been just a few ways you can start to save some extra cash. While at their core, they may be simple solutions; this is what makes them so wonderful. There are, of course, thousands more solutions out there for you to find, so hopefully, this post serves to set you on your path to finding them.