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No matter what your situation, whether you want to save to start a business, to go on holiday or just generally want to bring the costs down, there are several methods that you can use. Life is expensive, but it’s always good to know ways in which you can cut the costs within your everyday life. 

If you’re stuck as to where to start, however, this prospect can feel very daunting. To help make this easier, here is a list of 8 different money saving tips that you can use, no matter what your lifestyle:

1. Make Automatic Transfers 

Every month if you have the money, think about transferring over a portion of your income into a savings account. This money saving tactic is key if you’re the type of person that will spend money if it’s in your account. Putting it in a place where you can forget about it until you need it, it’s a sensible move no matter what your age.

Even if it’s the smallest amount every month, after a while, you can reap the benefits that come with saving it rather than spending it. A great way of saving for a deposit or for other events in the future, you’ll be in a much better financial place by doing it. 

2. Budget For Regular Costs

When you are on a tight budget, it’s easy to ignore potential long-term expenses such as car or home maintenance. But it’s better for your wallet if you budget out these costs and ensure that you take action and maintain what you can. You’ll find that if you spend a little out on maintenance more regularly, you won’t have a big bill at the end of it.

Think about, if you pay out for a car service, it might initially seem expensive. But if you have budgeted for this cost, you won’t have to cover potentially larger fixes down the road.

3. Utilise Price Comparison Websites 

Nowadays, you don’t have to go for a service or product simply because it’s the first thing that comes up when searching. Now, you can use price comparison sites or scour the internet for the best deal. Whether you are looking to renew your home insurance, car insurance or something else, you will be easily able to identify the cheapest provider.

By comparing and contrasting different suppliers/providers/retailers, etc. you will be able to save money. You’ll be amazed at the differences in price when you start to do this and wonder why you never did it before.

4. Teach Yourself Some DIY

By learning certain DIY skills, you’ll be able to save money that you would have spent out on a professional coming to do the job for you. Whether this is basic home repairs such as mounting a tap or fixing some wiring or cooking a meal from scratch, you can reap the financial savings from making this change.

It also teaches you valuable skills that you can use throughout the rest of your life and teach others what you’ve learnt.

5. Change Your Phone Network

Often, people don’t realise how much you can save by changing your phone network. If you’ve had your phone for quite a while, you might still be paying for the tariff that you originally got with the phone. But this tariff could be far more than you should realistically be paying for a phone of that age.

Which is why it’s a good idea to change your phone network and tariff every once in a while. But you might be asking yourself ‘How Do I Choose The Right Mobile Network’? Of course, this is up to your budget and your personal preference. Nevertheless, there is no harm in looking at various deals and comparing the different networks to find the best bang for your buck.

6. Cut Down on the Luxuries

Does your family eat out a lot? Or maybe you spend a lot on clothes or other items? Whatever it is, these ‘luxuries’ might be damaging  your finances in the long term. To help with saving, consider cutting some of these down and putting the money either in a savings account or aside for a bigger experience that you could all enjoy in the future – such as a holiday.

7. Swap Where You Shop

Over the years, you could find that you are going to one type of retailer in particular, because you know what they have to offer and you trust their products. But opting for one shop over others might be costing you more than it should. 

This year, why not try and swap the shops that you go into. For example, if you love Waitrose or Sainsburies, but are starting to realise just how expensive they are, why not try cheaper discount supermarkets like Aldi. They tend to offer practically the same products for a fraction of the price of the others. 

8. Book Activities in Advance

Another great way of saving money is by booking activities in advance. By getting ahead of the crowd, you’ll be able to access fantastic deals – whether it’s on holidays, days out at the local zoo, etc. 

Alternatively, you could see if they have any particular offers depending on that time of day or month. For example, certain cinemas will have 2 for 1 on film tickets or cheaper prices early in the morning as it’s not considered to be a peak time. If you leave it until the last minute (no matter what the activity or event), you could find that they have ramped the prices up.

Final Thoughts

So, there you go! There are 8 money saving tips that anyone can use. Extraordinary methods that you can utilise to save a little money here or there, you’ll be able to stretch your money further. Of course, what tips you use is up to you. But by making little changes in your finances, you’ll start to see a difference almost immediately. 

Although the initial saving might seem dull, the things that you’ll be able to do in the future with the money that you’ve saved with show you that it was well worth the wait.