If you’re looking to save a bit of money, whether it’s because your income has dropped thanks to the coronavirus or because you want to be able to splurge a bit at Christmas, one of the best approaches is to look at all the different little changes you can make.
These little things on their own might not make a huge difference to your finances, but when you add them all up together they can really make an impact.
If you’re not sure where to start though, here are some ideas for small changes you make that can save you some money.
Make sure you need what you’re paying for
Spend a bit of time going through your bank account and looking at the direct debits that are going out each month.
It’s possible you’ll find that you’re still paying for something that you don’t really get your money’s worth out of, like a gym membership for example. Cancelling these sorts of things can save you a nice bit of money each month.
You can then go a step further and look at things like your mobile phone contract. If you’re nowhere near using up all your call time, messages and data each month then give your network a call and see if you can switch to a tariff that suits you better.
Make sure that you really need and get full use out of everything you pay for, and think about cancelling or reducing things that you don’t get your money’s worth from.
Shop around when your insurance is up for renewal
You most likely will have a few different insurance policies that you need to pay for each year.
From car insurance and home contents insurance to care insurance for your pets, these are all things we need but there are often ways to bring the cost down.
The best thing you can do is use a service like protect your family to compare prices when your insurance policy is up for renewal. This way you can make sure you’re getting the best possible price for what you need.
Change the way you shop
I think most of us have already changed the way we shop in one way or another this year, either using online deliveries more or heading to the supermarkets alone where we normally go as a family.
When it comes to food shopping there are other changes you can make that will also help save you some money.
If you’re able to go to the shops yourself then think about switching to a supermarket like Aldi or Lidl that often come out cheaper than the other big supermarkets.
You can also save money by shifting down from brand name products to own-brand ones.
And while there’s no need for panic buying, if you have the space to store things at home you can save some money and build up a little stock of things by buying a few extra of your favourite items when they’re on a special offer.
Hopefully these tips will help get you started on saving some money that will soon start to add up.
Do you have any other great money saving tips?
Disclosure: this is a collaborative post