With more economic cuts on the horizon, many families are looking to how they can make further savings on household budgets that are already tightly squeezed. Here are some creative tactics to save money without feeling the pinch too badly.
1. Sleep more
Go to bed half an hour earlier during the week, and wake up half an hour later on the weekends (if the kids will let you). The more time you’re asleep, the less time you’re up using household energy, and many providers charge more if you’re using appliances during peak periods such as early morning. Benefit - More sleep = a healthier, happier you
2. Find discounts
You can make savings all over your daily life with a bit of knowhow. There are numerous free online games you can play and some websites, like meccabingo.com, offer free bonuses and other member benefits. There are numerous opportunities now to earn cash back via a selection of retailers; you can take the kids to a theme park for half-price by taking a pair of scissors to the side of a cereal packet, or you can follow discount voucher sites for their deals. Benefit - Feel less guilty about enjoying life’s simple pleasures
3. Use less heating
Try wearing warm clothes around the home for a few extra weeks every year, so the heating doesn’t need to go on so early or off so late. With energy bills so high now, this must be one of the biggest savings you can make. Also, look into whether you can insulate your roof or walls with a government grant. Benefit - You should gradually become more acclimatised to cold weather, meaning one day you can enjoy a holiday in Iceland.
4. More showers
If you’re a bath-lover, and let’s face it, who isn’t, try taking showers more often instead. The amount of water you save is huge. Benefit - You’ll save time, and also when you do have a bath, the sense of luxury is heightened.
5. Fringe benefits
Guys - if you're beginning to lose your hair, consider saving money on expensive haircuts by shaving your head, and cut your spending on shaving foam and pricey razor blades by growing a beard. Ladies - keep an eye out for trainee hairdressers and beauty specialists who will give you a freebie in return for the practise. Benefit - Continue to look great, but for a lot less money.
6. P2P Lending (peer-to-peer)
If you're not familiar with peer-to-peer lending, it's where P2P lending platforms like that of Lending Works offer fantastic returns by lending your money directly to creditworthy borrowers. Benefit - The borrower benefits from low-cost loans while you earn interest. They also go the extra mile to ensure your money is always safe by protecting against the risk of borrower default.
7. Centralise your debt
Many of us have all kinds of different debt, from mortgages to credit and store cards to car payments - it can mean that your bank account is already almost empty the day after payday, and that you have difficulty keeping track of what’s going out when. Try to get a loan with a reasonable repayment rate that will allow you to pay off as many of your debts as possible, and so you know you only have one large payment going out on a set date. Benefit - Less stress
8. Go vegetarian
Make like Paul McCartney (and me) ;) and switch to a veggie-only diet. You’ll save heaps, especially if you invest in a veggie-box scheme which helps the local economy. Independent grocers are often cheaper than supermarkets, if you can handle the odd misshapen carrot. Benefit - Better for you, better for the planet, and it may just force you to become a more creative cook!
9. Drink more water
Water is, if not exactly free, certainly cheap. At work or home try switching to water over soft drinks, and if you’re in the pub, have a pint of the clear stuff every few rounds. Benefit - NHS guidelines recommend a certain level of water intake every day to stay in full health.
10. Take up foraging
If you like taking a walk on the weekends, bring along a plastic bag when you go to pick up any fallen fruit you come across, or wild-growing herbs. Benefit - Free food!
