How to Reduce Daily Spending Without Changing your Lifestyle

Feb 24

How to Reduce Daily Spending Without Changing your Lifestyle

Let’s face it, everyone wants to save money but nobody wants to drastically alter the way they live. You get used to living in a certain amount of comfort and it can be a worry that you have to give this up in order to put some cash away. However, with these little hints and tips you can put away more money every month without having to alter your lifestyle.

Make a Budget

 

Talk to any financial advisor and the first bit of advice they’ll give you is to budget. Working out exactly what you’re spending every month will let you know how much you should set aside to cover vital expenses. By knowing this amount, you won’t have to scrape the barrel in order to pay off your mortgage every month. Budgets also let you see where trivial spending takes place and figure out where you can make cutbacks. [source]

Do Your Grocery Shopping Online

 

It is very easy for your weekly shop to be more expensive than you initially planned. You often throw things in the basket without looking at the price or buying them simply because they looked nice at the time. When you shop online you can see the cost adding up every time you put something in your basket and you won’t be tempted by on-the-shelf offers. All of this will cause you to buy only the essentials and ignore things you don’t really need.

Take a Packed Lunch

 

This arguably does change your lifestyle a bit, however if you’re saving £5 a day it is well worth it! If you get some of your work friends involved then you can make it just as social while everyone benefits from saving money. Instead of going out for lunch every day, make it a once a week occurrence. This will make it more of a treat and can save you £20 a week or even more.

Clear Your Debts

 

Before you can really start to save, you need to clear your debts. Start paying these off with as much as you can afford – this will reduce the build-up of interest and can save you hundreds or even thousands in the long run. If you have a high interest credit card to pay off, then it may be worth taking out a lower interest loan to cover it and provide you with more reasonable repayments.

Find the Best Deals

A quick phone call to your utility, insurance and phone/ TV providers can save you hundreds every year. Compare prices online and tell your existing providers that you can get it cheaper from their competitor – often they will lower the price even more, but if they don’t then you can always switch! You could be paying way more than you need to be for basic services and a five minute phone call is all it takes to lower this price.

None of these tips require you to change your everyday lifestyle, in fact just carrying out a few of these once-a-year tips like budgeting and finding the best deals can save you hundreds. This is a brilliant way to keep money in the bank while maintaining your comfortable lifestyle.

About the Author – Lend UK is a responsible provider of instalment loans, providing financial support to people in need with an easy repayment period. Lend also offers many money saving tips and tricks to help people avoid getting into debt. To find out more visit Lend UK online today.