Let’s face it: life can be expensive. Whether you’re paying off a loan, saving for a holiday or you’re just tight on cash as you head towards pay day, it can sometimes be difficult to make ends meet at the end of the month. However, there are some simple ways to cut your living costs without impacting on your everyday life. Below, we’ve rounded up our favourites.
Switch insurance providers
Home and car insurance can quickly add up – especially if you pay monthly. Instead of burying your head in the sand, dust off your insurance policies and ask for a discount. Many insurers will be happy to knock something off to keep you as their customer, but others are less generous and won’t budge on your pre-agreed price. When your renewal is due, get in touch with a company such as Call Wiser, who’ll call you to discuss your needs and then find you the very best car insurance policy from a panel of more than thirty insurers.
Expected saving: Up to £100s on your annual car insurance bill
Make your lunch
Heading to the office canteen or into town every day for your lunch can be expensive, and before you know it, you’ve spent £30 a week on food. Save by visiting the supermarket after work and stocking up on vegetables and ingredients that you can use to make salads, sandwiches and other tasty snacks to take to work. We recommend buying a lunch box to keep your food fresh throughout the morning, and stocking up on snacks like nuts, seeds and other treats to stop you from reaching to the vending machine when you’re hungry.
Expected saving: Up to £30 a week if you spend £6 per day on lunch
When you have a car, it’s often more convenient to drive to work and the local shops than it is to walk. However, every time you drive, you’re spending money. The next time you want to pop to the corner shop for a pint of milk or you want to visit your friend who lives just a few minutes away, then don your walking shoes and venture out on your two feet. Not only will you save money, but you’ll get some exercise in the process.
Expected saving: Up to £20 a month if you walk instead of drive for a couple of miles a week
Host a party
We know – you probably weren’t expecting us to suggest a party on a list of ways to save money, but it works. Instead of heading into town with your friends on the weekend to socialise and have a couple of drinks, host a get-together at home. Not only will you feel more relaxed and save £20 on a taxi at the end of the night, but you won’t be tempted to spend even more money eating out and enjoying a glass or two of wine. If you want to save more, then implement a potluck policy, where each of your guests brings a dish of shareable food and some drinks that they can enjoy while you relax.
Expected saving: Up to £100 per month if you socialise more than once a week
Declutter your home
If you’re a hoarder, then the chances are that your home is full of things that you no longer want or need. Start decluttering and list things that you think people would like to buy on sites like eBay and Gumtree. One woman even cashed in her £28,000 per year admin job to sell things on eBay full time, and now makes more than £100,000, so if you have an entrepreneurial spirit and want to make some serious money, you now know how!
Expected saving: You could make up to £1,000 by selling your unwanted goods online
There you have it – five great ways to cut your living costs without having to sacrifice your living standards. Whatever your financial situation, we hope these tips will help you make more of your money and allow you to do the things you want to do. Good luck!