How you're overspending without even realising – and how to stopMarch 17, 2021
- Could you find it cheaper somewhere else?
- Do you have something similar already?
- Could you borrow it?
- Do you need it?
- Can you afford it?
Five quick tips for saving money:
- Don‘t do contactless payments. Enter your PIN or use cash so you’re fully conscious of what you’re spending
- Sleep on purchase decisions or use the 30 day rule
- Take an inventory before you buy new things
- Set a monthly spending-freeze challenge
- Make sure ‘fun money’ is in your budget
- Phone bill: some contracts are a whopping £60p/m! This is shocking as many networks give you unlimited data, calls and texts for a SIM-only plan at £20.
- Car insurance: Always research this each time it’s up for renewal, sadly customer loyalty doesn’t pay and it’s likely you’ll get a better price as a new customer year after year.
- Branded medicine: The ingredients are often the same on own-brand medicine so don’t fall for the fancy packaging and marketing.
- Clothes: Buying your clothes secondhand from apps like Vinted and Etsy can save you hundreds of pounds as well as being better for the environment.
- Not moving energy supplier: As with car insurance utility providers basically rely on our laziness to look around for a better deal, but this can often be as easy as just picking up the phone or using a price comparison site and them doing all the hard work for you to switch you.
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