It’s been a month since that awesome time of the year when our obscure relatives give us money, and whether you’re still rolling in Christmas cash or are completely broke, it’s time to get serious about saving. Here are a few ways to save money this year!
#1 Set Up A Direct Debit
Setting up a direct debit is a great way to ensure you’re reaching your savings goals. It’s a really easy process (most can be set up online) and it really is effective. If you have a particular account or card with a good interest rate, use that one to save. Starting off with a small amount each month means you won’t notice the money going out and you’ll learn to budget without it.
#2 Shop Smart
There are so many amazing department stores that make the shopping experience so fabulous, sometimes it’s hard to resist going in and spending a fortune. However, there are also some online gems which stock the same products for a cheaper price that you may not have heard of. It’s best to check around before you decide to splash the cash.
#3 Get Loyal
Brands and stores don’t just want you as a one off customer, they want you as a regular. So when you shop with them regularly and sign up to receive updates from them, they will reward you accordingly. Many major stores have loyalty cards which allow you to gain points as you spend, which in can be exchanged for products. Similarly, signing up to brand emails means you’ll be the first to hear about new offers, sales and even exclusive deals for their most loyal customers.
#4 Wise Withdrawals
If you can’t be trusted with online banking and you think cash machines are like a magic hole ready to dispense cash at your every convenience, then perhaps withdrawing a set amount of cash weekly is a better option for you. Look over your previous bank statements and receipts to see how much you could realistically live off for one week, then withdraw it accordingly.
#5 Plan Ahead
Finally, and perhaps most importantly, plan. Jot down everyone’s birthdays/anniversaries and work out how much you’ll need to spend on them. Withdrawing money, popping it in an envelope and writing their name on the front is a great way to ensure you won’t spend it! There’s nothing worse than not being able to afford a present for a loved one, so this way, you’ll be sure you’ve saved enough money to buy them something great.