Do you worry about bills every month? Do you constantly try to reduce your spending? Do you struggle to save money?
If so, you’re not alone. A recent study found that 70% of British workers are ‘chronically broke’, which means only three out of ten adults are financially comfortable. This may seem disheartening, but there are lots of wats to reduce your spending so you can save more money. And no, you don’t have to sell your car, or drastically change your lifestyle; you just need to make a few small changes.
Here are seven frugal tips to help you save money.
1. Leave Your Card At Home
Studies have found that people are more likely to spend money with a credit or debit card than they would with cash. So if you are going to buy something specific, we suggest taking cash and leaving your card at home. This means that you are less likely to splurge or overspend, but don’t worry if you see something you really like; you can always go back later if you’re still thinking about it!
2. Cut Out Window Shopping
Window shopping can be a lot of fun, but let’s be honest; most people end up treating themselves after a day of window shopping! So if you are tempted to go into a store just so you can ‘look around’, remind yourself that this is creating unnecessary temptation. So cut out window shopping, and only shop when there is something specific that you actually need.
3. Pack Your Lunch The Night Before Work
You can save a lot of money by making a packed lunch (instead of buying a meal deal or getting takeaway). You can do this using leftovers from your dinner the night before, or you could meal prep five lunches on Sunday before the week begins. This will save money every day you are at work, and it also means you are more likely to eat healthy, nutritious food.
4. Ditch The Gym For Home Work Outs
You can also save money by ditching the gym in favour of home work outs. While this isn’t a good option for everyone, it is a great idea for people who use minimal gym equipment (such as people who do yoga on a matt, or only use the running machine). If this is the case for you, consider using yoga or HIIT YouTube videos to get a great work out in without spending a penny.
5. Don’t Spend As Much On Petrol
There are lots of petrol comparison apps that will tell you where the cheapest petrol is in your area. This is a great way to save money every month, especially if you use your car every day.
6. Apply For A Home Energy Audit
You can also apply for a home energy audit. If you do this a professional will come to your house, assess the property, and then tell you how you can save money on bills. This can help to reduce bill spending significantly, especially if you have a large family. This does sometimes cost money, but you should get the money back within a few months of auditing your home! You could also audit your business to save even more money.
7. Use A Coupon App For Your Weekly Shop
Finally you can download a coupon app to make your weekly shop cheaper. There are lots of free apps to choose from, including specific apps created by specific companies (for instance, if you download the Asda app, you will get money off your first shop). This frugal tip can significantly reduce the cost of your weekly food shop, especially if you always use the same store.
Do you want to reduce business spending so your company can save money? If so, consider speaking to one of our virtual assistants to find out how they can help. All you need to do is email us!