Happy new year!
Here’s to thinner waistlines and fatter wallets. Each year, it’s easy to get those two mixed up, isn’t it? We always plan on improving our finances, particularly after an expensive Christmas period, but as the year progresses it is easy to lose focus. Why not make 2019 different?
Each year, it’s easy to get those two mixed up, isn’t it? We always plan on improving our finances, particularly after an expensive Christmas period, but as the year progresses it is easy to lose focus. Why not make 2019 different?
Use these top 20 tips saving tips for 2019 from the leading UK Money Bloggers. They each provide their best tip for 2019 for you to follow below, so you can save money the easy way:
Automate your savings.
Claire Graves from www.themoneyfreak.co.uk advises that “Setting up a standing order to go from your current account on the day you get paid” is the best way of automating your savings. Marie Ellis from www.brokegirlinthecity.com also recommends saving £25 a week. It doesn’t sound much, but over a year that amounts to £1,300, not bad at all!
Laura Dempster from thriftylondoner.com recommends “to ‘Pay yourself first,’ where you put your saving money aside (preferably into a separate account) as soon as you are paid at the end of the month”.
Clear your debts with highest interest rates first
Vicky Eves from https://ibeatdebt.com/ highlights “in the long run it’ll cost you less and make getting back into the black happen quicker!”
Track your expenses
Francesca Henry from https://frompenniestopounds.com recommends “to go back through the last few months bank statements and write down everything you have spent your money on. It’s easy to let money slip through the cracks, which is why keeping on top of it and having awareness of your spending habits will help to save money”. Saving Apps like Yolt are good for this. Melissa Shaw from https://www.skinnyspending.co.uk uses “the piggy banking/money enveloped method where you divide up your expenses into different pots either physically or virtually”. Vicky Eves from https://ibeatdebt.com/ highlights “in the long run it’ll cost you less and make getting back into the black happen quicker!”
Meal plan every single meal
Moving on to the important topic of food. Katy Stevens from https://katykicker.com is kicking back on takeaways. She advocates to “avoid the takeaway. Stop running out of food and avoid food waste”. It saved her a fortune in 2018.
Make twice as much food as you need and freeze the extra portions
On a similar note, Bronni Hughes from https://bronni.co.uk advices to make twice as much food as you need and freeze the extra portions. “It’ll stop you reaching for a takeaway menu when you can’t be bothered to cook”.
Learn the difference between “best before” and “use by”
Continuing the food theme, Fiona Elizabeth Hawkes from www.savvyinsomerset.com highlights the importance of learning the difference between ‘best before’ and ‘use by’ – “so much food gets wasted because people don’t know what’s safe to eat and what isn’t. It’s also surprising how much food can be frozen – things like chocolate, cheese and even whole birthday cakes!”
Switch down to cheaper brands when you
Hayley Muncey from missmanypennies.com advice is “to switch down to cheaper
Consider the whole life cost of a purchase
Hollie Hutchinson from www.thriftymum.com highlights the need “to think long-term before committing to a purchase”. Mark Furniss from www.nottaughtatschool.co.uk also recommends “not to impulse buy something you wouldn’t normally, instead wait a week and see if you really needed it”. Most of the time, he never goes back and purchases the product he was initially going to buy.
Never let a contract renew
Pete Chatfield from www.householdmoneysaving.com recommends to always “find a better deal or negotiate with your current provider”. This can often be very time efficient task and not the hours of hassle you expect.
Always search for a discount codes and apps before buying online
Emma Bradley from www.mumssavvysavings.com reveals to “always check cashback sites like TopCashback, Quidco and Boom. Over the years these
Use money saving apps when shopping
Martyna Sroka-Lalewicz, from
Maximise your pension pot
Nick Daws from www.poundsandsense.com recommends checking if you have a full state mention on the government website https://www.gov.uk/check-state-pension. If there are gaps in your record and/or you were “contracted out” of paying full National Insurance for a few years, you may be able to make up the shortfall by paying extra NI to fill the gaps. Even if retirement is still some years away, it’s important to do this as soon as possible so you can assess the situation and plan accordingly”.
On the theme of pensions, Onyemachi Cyprian Njamma from www.moneynotes.co.uk also agrees to add more to your pension pot. “You get
(If you have kids) – Teach them the value of money
Saving is much easier as a parent if your children understand why. Jennifer Dixon from www.mymummyspennies.com “My tip would be to teach children the value of money and how to shop savvy. Saving is much easier as a parent if your children understand why you are making these choices.”
Get freebies to help you save money
Katie Schulten from www.studentskint.com top tip would be “to get freebies to help you save money. You can easily get free food, groceries, drinks, household items and furniture! Turn it into a fun challenge with your friends/family/kids
Reduce non-essential spending
Emma Jackson from www.beemoneysavvy.com highlights for the sake of your finances look at reducing your non-essential spending! “How much are you spending on ongoing contacts that you don’t need (or use anymore) such as streaming services, entertainment packages, and gym memberships? Cancel what you don’t need and watch your finances improve.”
Review all your subscriptions
Emma Maslin from https://themoneywhisperer.co.uk recommends to “Review all your subscriptions (go through your direct debits and standing orders on your online banking) and cancel any you can’t justify any more or have simply forgotten about.”
Or Goren from www.cordbusters.co.uk agrees and highlights “to cut the cable TV cord and stop paying hundreds of pounds a year for channels you don’t even watch. By replacing Sky/Virgin/BT with TV-on-demand services like Netflix, you can control your spending and save A LOT of money in the process – while still watching great shows”.
Make small changes to your spending habits.
Lauren Bolton from finding www.findingthepennies.com preaches to make small changes to your spending habits; for instance, “Say no just for today. No to today’s Costbucks coffee, no to that it’s-just-a-pound purchase at the shop, No to late-night online shopping, just for today.”
Have a no spend month
Jane Berry from www.shoestringcottage.com recommends a no spend
Fixed rate mortgage over? get a new one.
Sara Williams from debtcamel.co.uk highlights that once your mortgage fix has ended, go get a new one. It doesn’t take too long. “There are 800,000 families who could save an average of over £900 a year by doing this”.
Set your self-saving goals
Eileen Adamson from www.yourmoneysorted.co.uk leaves us with inspirational quote “Where would like to be this time next year, and in 5 years, and 10 years. Set yourself big, exciting goals, and build your budget round about that. Saying “no” to things that are a waste of money, suddenly becomes easy when you have more exciting things to look forward to.”
If you have any tips, that work for you, please share them below.
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