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A lot of the time people get the wrong idea about frugal living. Many assume that you have to give up the things you love or live solely on the basics to save money.
While it’s obviously good to cut back on non-essentials, that doesn’t mean we need to punish ourselves by completely forgoing treats or pick-me-ups. In fact, we can reduce our spending just by making slight tweaks to our everyday routine. It’s really simple!
The list below contains 11 things you can do to save money without sacrificing what you love. Hopefully it’ll help you discover new and easy ways to be more thrifty and financially savvy!
Everyday ways to save money:
1. Switch to reusable/refillable options
If you’re big on sustainability, this one should already come naturally. From makeup remover pads to barista grade coffee cups, companies are constantly coming out with new reusable products.
These items might seem a little pricy at first, but you’re actually protecting your purse/wallet in the long run. Think about how many stacks of cotton pads you’ve gone through in your lifetime. Or how many plastic bottles of water you’ve drunk. Each time we throw these products in the bin we’re literally chucking money away!
If we make a (small) initial investment, the things we buy are likely to last longer and be better for the environment. Plus, many shops and cafes will offer discounts if you bring your own cups or containers.
2. Take advantage of virtual savings pots
If you have a Starling or Monzo account you’ll have noticed that there are ‘spaces’ where you can set money aside. These saving pots are separate from your main balance, which means you can reserve money for specific bills or purchases. This is great for stopping you overspending and for making sure you have enough at the end of the month for essentials (like rent or utilities). Monzo even allows you to pay out directly from these saving pots so you don’t have to keep moving money around.
If you don’t fancy setting up a whole new bank account, there are loads of similar apps that connect to your pre-existing account. Plum is amazing for automatic saving as it analyses your spending habits and moves a tiny bit into your savings account every few days. I think it might be UK only at the minute so for my US readers, Digit does the same thing.
3. Have ‘no spend’ days
Given that most of us are working from home these days, this one might be a little easier than you think. The goal is literally as straightforward as it sounds – you have to go a whole day without spending any money.
Now, this might be a little tricky if you’re used to buying lunch everyday or if you rely on public transport. But, there are ways around this. You never know, a weekly or monthly bus pass might even save you money in the long run!
I’d start off with a small, manageable target (so that you don’t feel discouraged if you do accidentally splurge). Then, if you can successfully do a couple of days a month, try gradually upping the amount.
Give it a go, even if it’s just two or three days a month. You’ll be surprised at just how much you can save!
4. Cancel subscriptions you don’t use
Maybe you have a Disney+ account that you never log into or a membership for a gym you never go to. Whatever it is, if you’re not using it, there’s no real reason to keep spending money on it.
Take five or ten minutes to go through all the direct debits that are coming out of your account and decide whether you really need them. If you’re paying for a monthly magazine subscription that just ends up (unread) in the recycling bin after a week or two, this is definitely something you can change.
If you love your subscriptions but just can’t afford them, see if you can share the cost with your friends or family members.
Plus, check out my at-home workout post to discover more ways that you keep fit without a gym membership.
5. Upcycle your old clothes
Clothes go in and out of fashion so quickly, it feels like you have to be constantly spending to keep up with the latest trends. A good way to get around this is by DIY-ing any old items of clothing that you have.
Searching Pinterest you can find loads of DIY fashion inspiration, and most of it is so cheap! The majority of the time you just need a bit of bleach or embroidery thread and you have a whole new look. Upcycling an old pair of jeans is always a fun, creative project. I seriously encourage it as a more productive and mindful way to save money, give it a go!
If this isn’t really your cup of tea, or you just don’t have the time, how about selling your clothes instead? It’s super easy to create a listing on eBay or Vinted, and a great way to make a bit of extra cash.
RELATED READ: How To Responsibly Get Rid Of Your Unwanted Clothes
6. Don’t get hung up on brands
This goes for food and medicine as much as it does clothes and makeup. It’s easy to think that because something’s more expensive, it’ll be better quality. But this isn’t always the case. Most of the time own-brand products are just as good as their branded counterparts.
Unless you notice a massive difference in the quality, I always recommend going for the cheaper option. I promise you you won’t miss the branded goods.
Of course, there are exceptions. But it’s always best to try things out and see what’s worth splurging on and what isn’t.
7. Meal plan
Meal planning is such a resourceful and easy way to save money. Eating out, whether it’s for lunch or dinner, can be so expensive. Especially if you’re doing this multiple times a week.
I highly suggest cooking from scratch and eating at home. Not only is the act of cooking itself so therapeutic, you’ll find that your skills will improve too.
By planning what you’re going to eat throughout the week, it’ll stop you wasting money on things you don’t need. Basically, if it’s not on the shopping list, and not included in any of your meals, you don’t need it.
Just try not to be tempted by the snack aisle, that’s the one that always gets me!
8. Use a coupon plugin
I love a discount as much as the next person, but I hate spending hours looking for a coupon that will work. It’s even more frustrating when you finally find one, but your basket has been emptied in the meantime.
An easy solution to this is to use a coupon plugin, like Honey or Pouch, that will find the codes for you. They trawl the Internet and automatically apply the coupons that will give you the biggest savings. It’s so much easier than searching for the codes yourself, and it’s always a nice little surprise when you save more money than you expected.
9. Don’t neglect your student discount
Following on from the above, if you’re a student definitely take advantage of the discount you can get from Unidays or Student Beans. I really recommend making any big purchases (e.g. laptops, phones, tablets) before you graduate as the savings are massive – especially if you’re buying Apple products.
Aaaand, I bet you didn’t know that if you’re under 26 you can get Youth Discount at some stores too. The selection of retailers isn’t as big as the other two but, as the Tesco slogan goes, every little helps.
10. Sign up for loyalty programmes
Rewards schemes are a bit of a slow burn and you probably won’t see results immediately. A lot of the time you still have to spend money to build up points. But when you do, you don’t feel as bad about it because you know, at some point, you’ll get something in return.
Nearly all supermarkets have a loyalty programme and so do many high street stores too. Here are a few of the best ones.
Also be sure to check out digital rewards schemes like Microsoft Rewards. You can earn freebies by just carrying out everyday actions like searching with Bing or playing on your Xbox.
11. Keep track of your spending
This may seem pretty obvious. But, we often don’t realise how much we’re spending until it’s actually written down. I find it really helpful to have a spreadsheet where I can input how much money I’ve spent on different categories i.e. transport, food, clothes. You could even use a budgeting app, like Yolt or Emma, to do the hard work for you.
It’s a great way to crack down on bad spending habits and help you manage your money more wisely. If, for example, you notice you’re spending way more per month on makeup than you do groceries, you might be inclined to cut back on your beauty purchases.
How do you save money? What tricks do you recommend?
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