Saving More Money: Top Tips

Saving More Money: Top Tips

Do you wish that you had more cash in your wallet or bank account? Is saving more money something you want to work on?

There are plenty of people out there just like you who feel the same way. Although it might seem practically impossible to make your money stretch any further than it already does, the truth is that there are always new ways that you can adjust your relationship with money. 

One of the best things you can do if you’re constantly struggling with finances is to trick yourself into approaching saving more money from a new perspective. 

Here are some of the money-saving tactics you can try that may actually make a difference to your life this year. 

Stop Telling Yourself to Go Big or Go Home

One of the biggest mistakes you can make when you first start budgeting is to tell yourself that you have to save a certain amount each week to make the experience worthwhile. The truth is that even the smallest saving strategy can make the biggest difference. For instance, you could save change in a jar every day and end up with an extra £10 at the end of the month.

It doesn’t seem like much at first, but every little bit helps. That’s why it’s so important to compare prices before you purchase something, to ensure you’re pinching the pennies. For instance, taking out a loan online could save you a few pounds on interest payments each month that you can put towards other expenses. 

Start Challenging Yourself

We’re not talking about forcing yourself to try and meet some unrealistic goal every day. Instead, challenge yourself in a fun way. Focus on saving £1 a week for a while and see where that gets you or give yourself the task of saving a specific (small) amount of money whenever you go shopping for food by trying out cheaper brands. 

There are plenty of ways that you can bring more fun into your frugal lifestyle, and make budgeting feel more natural overall. The more you start to have fun with your budgeting strategies, the easier it will be to stick to your plans in the long-term.  There are plenty of challenges you can take part in on Moneysavingexpert (in the forum) or make up your own,

Get Your Bank To Do The Hard Work

If you’re constantly forgetting to pay money into your savings account at the end of each month, get your bank to do it for you by setting up automated payments. You can also automate your payments for specific bills so you can rest assured that you won’t have any late fees to worry about when you’re dealing with things like rent and utilities. 

Additionally, you can also think about opening a savings account in a different bank – one that you can’t access online. This will make it harder for you to withdraw money into your savings account without visiting your bank in person. Make sure that you hide your ATM card too, so that you can’t just withdraw cash at any cash point. 

Play Some Mind Games

There are plenty of fun mind games you can use to change the way you manage money. For instance, if you make your monthly fees like rent and gas a mandatory expense, make savings a mandatory cost too. This will force you to take your emergency savings account and other goals seriously. 

Another way to improve your chances of saving more money is to round numbers up and down. For instance, when you earn money, round that number down so you’re forced to be more frugal with your cash. If you earn £211 one week, tell yourself you only have £200. If you spend £112, tell yourself that you’ve spent £120 so you’re saving extra coins here and there without realising it. 

Designate All Of Your Cash – Even Your Change

Finally, it’s easy to tell yourself that spending an extra pound here and there doesn’t matter when you’re not giving all of your money a purpose. However, if you destinate every penny you earn to something crucial, then it’s harder to let yourself off with those extra expenses and saving more money becomes easier. 

One way to make sure you never spend more than you need to is to withdraw the cash you need for things like entertainment and food, and only let yourself use that amount. Once you run out, you won’t be able to return to your credit card or debit account for more money. This will teach you to think more carefully about how you spend your money, and it could give you a better insight into your priorities too.  I have used to cash envelope system on and off for years and it works.

Saving More Money

There are some great tips and tricks here for saving more money. Do you use any of these? Do you have your own tips or tricks? I’d love to hear about them in the comment box below.

Can You Build a Business For Free?

small business

Have you ever wondered if you could be more successful if you only had more money? I’ve been a self-employed copywriter for twelve years. I have kept my overheads super low however in truth have needed to spend in order to grow my businesses. As the saying goes, you do need to spend money in order to make money, and if you’re not willing to do this then the rate of growth you’ll experience is going to be low. The key is being savvy with your spending in order to build a business that is successful.

Free Growth is Possible But Slow

There are countless ways to grow your brand while staying relatively frugal, but at the end of the day, you need to spend a little bit of cash in order to get yourself out there. I went years without a website (other than this one), didn’t go to networking; I didn’t have business cards even. My business grew and I was happy with the rate of it given that I have very small children at home. It could have grown faster however it would have cost money. As it was my spending wasn’t zero but very low to start with.

Without spending any money, you’re not even going to have your own website domain. Instead, you’re going to have a subdomain with an existing company, and this is going to affect your credibility and also your exposure. People aren’t going to remember your website very well, and you also won’t be able to monetise a website like that very efficiently. So yes, free growth is possible in theory but very limiting.

Studying is the Best Way to Grow Your Career

You don’t need to go back to college or school to get something like an MBA with engineering focus or even to learn new skills such as music production. The fact is; you can learn pretty much anything on the internet if you know where to look. Paid resources are often the best place to learn because they’re created by professionals that want to teach and pass on their skills. The best ROI on spending I’ve done is spending on self-education and I don’t regret a penny of it.

There are a number of great resources online, free courses, forums and more. I’ve made the most of many of these but have to say the courses I have undertaken and the skills I have learnt which have the biggest impact on building a business for me have been paid courses. These aren’t necessarily copywriting courses, or SEO digital learning opportunities either. Back in January I completed a mindfulness diploma. Putting this learning into practice has helped me both personally and professionally. 

In Summary

The moral of this story/blog post? If you want to build a business without spending money on it, you can. You will have to set your expectations accordingly though. I’m still frugal on my business spending. I make sure that what I spend on my business has a good return on investment for me. Examples of this include membership to our local business association, excellent web hosting, a web developer and my accountant.

Whether you are looking for full-time blogging work or are looking to build a business that’s entirely different, you need to budget for necessary expenditures if you are going to build your business and reach your goals.