We all know the importance of Saving Money, life would be so much easier if we were financially stable. But how do we get there? Well, we could spend less on luxury items and control unnecessary spending, but this makes saving sound hard. And these days, with the cost of everything going up, it feels harder than ever to save. But don’t despair because we’ve got tips that can help.

We’ve found ways of saving that won’t make you feel like you’re going without. Little by little, you’ll start to grow a pot of money for yourself, but you’ve got to start somewhere. So, let’s start here.

1. Stash Your Cash

These days, we tend to pay for everything with a card. But sometimes, you may carry some cash on you. Whatever cash you’ve got leftover at the end of the day, put it away into a jar or a money bag. It might not seem like you’re saving much, but over time it builds up.

2. Put Some Money into a Savings Account Every Month

This is an easy but effective way of saving. On the day that you get paid, put some of it straight into a Savings account. Set up a standing order from your bank account so you don’t have to think about it. That way you won’t run the risk of spending everything you’ve got, and you’re less likely to miss the money.

Before long, you’ll have an emergency fund to fall back on when you need it. This is a much better option than taking out a short term loan to pay for an unexpected expense.

3. Start a Joint Savings Challenge

For this one you need to open a savings account with someone you can trust – maybe your partner or family member. Each of you has to pay the same amount into the account each month. If either of you fails to make your payment, you have to pay a forfeit. You can decide what the forfeit is before you start saving.

The key here is that by being accountable to someone you’re more likely to stick to it. You’re also less likely to spend what you’ve saved.

4. Save with Loyalty Cards

Instead of using cards to spend money on, collect cards that you earn points on. Stores like Tesco and Boots have loyalty cards that can save you money. Tesco give you discounts, while Boots give you points to spend on products. Coffee shops often have loyalty cards that give you a free coffee over time. If you’re shopping online, always search for discount codes to enter at the checkout. You’ll be surprised at how much you can save.

Every time you save on a discounted or free item, put that money you would have spent into savings. It’s another way to keep topping up your savings pot.

5. Can it be Repaired Rather Than Replaced?

We tend to think that nothing lasts forever so if anything breaks down, we just replace it with a new one. But that’s not always the answer. Earlier this year a ‘right to repair’ law came into force. This means that manufacturers have to make spare parts available for washing machines, dishwashers, fridges and TVs.

Next time something stops working, ask your local community if anyone knows of someone who can do repairs. See if you can get it fixed instead of buying a new one. It could save you hundreds of pounds on a replacement.

6. Save on Travel Costs

Now we’re getting over the pandemic, more of us are going back to work in offices instead of working at home. With the costs of fuel rising, look at how to save on your commute. Would a season train ticket save you money? If you work part time look for a more flexible ticket. There are some that let you travel for say 8 days, but you can use it over a 28 day period.

If you do have to drive, consider car sharing. Everyone who’s travelling to the same place can contribute to the overall costs of using one car.

7. Save Your Pay Rises

If you’ve been used to living on a certain level of income, stick to it. Any time you get a pay rise or bonus payment, put this extra money into savings. Even better, put it into your pension and you won’t have to pay tax on it.

Because you’re not used to having the extra income, you won’t miss it. But you’ll be grateful you’ve got that extra bit saved for your future.

These are just some ways to get you started on building up your savings. They’re simple ways of putting money away that won’t make you feel like you’re missing out. Remind yourself daily to follow these simple budgeting tips so that they become a habit. Over time, you’ll reap the rewards when you see your savings grow. Saving money can be easy when you know how.

Disclaimer: Please note, we are not providing financial advice. Our blogs are written for informational purposes only.