The New Year is here and if you’re like me you’ll be thinking of ways you can build up your savings account for 2018. I have come up with a list of money saving ideas to help get you started.
It’s this time of year everyone is making their resolutions and setting goals for the new year. We are all super motivated and it is the best time to look at ways we can save money and make cut backs without missing out on anything. Many of us over pay is different areas and we really don’t need to.
Here are my top ideas to help you start the new year by saving money.
Get rid of subscriptions –
We all have them. Gym memberships, magazine subscriptions, paid bank accounts etc. Now is the time to check all of your direct debits and subscriptions. Any that you are no longer using or don’t need anymore, cancel them. If you haven’t been to the gym since the summer, you’re probably not going to go for a while so cancel your membership!
Shop from your cupboards –
This just means exactly what you think…before you go shopping, check what you have already got in your cupboard and freezer. You probably already have enough food to last you a few more days. The freezer normally has some dinners in there that you may have forgotten about. From the list of food you already have, meal plan around these items and come up with ideas for lunch and dinners. This will help you save cash as you’re not buying unnecessary food. Midwife and Life has a good beginners guide to meal prepping. Take a look and it should give you some ideas.
This is a big one and can save you a huge chunk of money every month. A couple of months ago, I remortgaged my house and managed to save myself over £100 a month. That’s £1200 over a year. A huge saving. If you’re coming to the end of a fixed contract or you haven’t remortgaged for years, now is the time to do it. It’s so easy to do and you can do it online.
If you want more motivation to remortgage and to finally be mortgage free, Challenge Clare has set herself the challenge to become mortgage free by 50!
A new year is the perfect time to set your new budget. Track all of your income and outgoings and make sure you know where every penny is going. Then you know how much you have left to play with. It always good to look over your budget every few months to make sure nothing has changed. If you stay on top of your money, you will be in more control of where it is all going. This will then help you know how much you can save each month. You can read more on budgeting in a previous post I wrote.
These are my top ways to save money. Just spend one afternoon going through all of these and hopefully you will be able to save yourself a few hundred pounds. If you have any other suggestions, let me know in the comments below. I’d love to hear them.
Pin this for later