Top 10 Ways to Save Money | Money Tips

When it comes to saving money, I am all about learning from others and I am sharing the top 10 ways to save money that fellow content creators have shared with me. Talking about money is still a taboo in some cultures but it shouldn’t be, we all need to learn together on how to spend and save money. Over the last few weeks, I have been sharing ‘money topics‘ from three financial mistakes I made as a young adult to how I am saving £1000 a month.

Learning to save money has been a process and its one I have been slowly but surely educating myself on. I have been reading international best sellers on investing and simple life principles on things I wish someone taught me when I was in school or better yet at home. Right now I am in a position where I am able to manage my money wisely and I am linking up with other content creators to share their tips on top 10 ways to save money which are doable.

*Disclaimer – I am not a financial guru, tips shared in this post are collected together from other savers as well as my own experience. If you are in debt and need to speak to someone, please check out the UK debt charities.

TOP 10 WAYS TO SAVE MONEY

When I was younger, I used to have a piggy bank which I raided every single month because whilst I believed in saving – I saved money to spend it. I was too young to think about saving money for the long term and whilst there is nothing wrong with enjoying my childhood, I think it’s important to start educating our kids about money when they are really young. There are certain financial mistakes I made that, maybe I wouldn’t have made had I been taught about money, saving + investing.

Looking back on my financial journey and the decisions I have made in my life, I can see the personal growth that has empowered me to continue on this path. Saving money is not always easy especially for those on low incomes and those with debt that they need to take care of. I know it’s hard to think about saving your dosh when you still have a lot of debt to clear, but saving money isn’t always about putting that £100 in your savings account, its about looking at the products you utilise and seeing where you can make a saving.

I am excited to share the top 10 ways to save money but instead of stealing the spotlight, I am splitting the tips up and allowing fellow savers to share their tips and then I will share mine at the end.

How Others Saves Money: Budget & Automatic Deposits

Claire of www.staposthriftylifehacks.co.uk says, I think the key to successfully saving money is planning. I plan my budget at the start of the month, by working out exactly where I’m spending my cash. I always pay myself first too, by sending a fixed amount to my savings.

Claire has touched on a really good point here, she budgets at the start of every single month and she also pays herself first by depositing a fixed amount into her savings.

She then continues to say, I then move to meal planning. Each month I try to make a new budget meal, as I find that variety is the key to staying on track. Next, I create a list of items I need to buy and then I do an online shop, as I 
find it easier to select the cheapest items that way. Finally, I plan family activities for the month ahead. We do as much as we can for free, but I try to use coupons and my Clubcard points where I can, to keep costs down. I also plan ahead for key events such as birthdays and Christmas. For me, planning and saving go hand in hand.

Lyndsey of adventuresbeginathome.com is another person who saves similarly to Claire, she says, “I find it easier to save when I know what I’m saving for and what my goal might be. While having a savings account is a great idea I get a bit confused about what the money is for if I’m saving for various different things. I have my online bank account set up with numerous online saver accounts, named for each different thing I am saving for.

This way, I am able to put money into each one every month and I can see the totals going up, instead of being swallowed up by a bigger amount. As soon as I have reached a savings goal, or spend the money on what it was intended for, I can change the account name and start saving for something else.

Again, similar to Claire, Dan of www.thefinancialwilderness.com says: set up an automatic payment into your saving fund that happens on the same day as payday. Psychologically it makes it easier to save because it creates a effect where you ‘never had’ the money and don’t feel you’ve missed out, and budget more easily around what’s left. It’s much easier than hoping something is left at the end of the month!

How Others Save: Cash-back & Mobile Shopping

Victoria of www.lyliarose.com says: one of the best ways to save money, by literally doing almost nothing, is by using online cash-back sites.  Providing you click through to their partnered retailers using their tracking links, you will earn cashback for your online purchases.  It’s not just retailers either, but also services such as MOT bookings, hotel and travel bookings, insurance, groceries and many more. 

In three years I’ve made over £1000 cashback on our normal everyday purchases online!  My top tip is to add any browser extensions the cashback sites have so you are instantly alerted to a cashback deal when you’re shopping online.  It’s straightforward and amazing how quickly the money adds up.  Victoria has share a list of the top UK cash-back websites you can check out.

Emma Dunn says:  I like to save money on my mobile by shopping how I normally would but downloading the air rewards app and updating my card.

This is not something I was aware of but pretty intrigued and need to learn how I too can save money by using my mobile to do some shopping.

Jo of Tea and Cake for the Soul says; use cash-back apps for all your essential purchases, leisure bookings, and even your general shopping. Make sites like TopCashBack and Quidco your first point of call when looking to buy anything online even your household or car insurance, boiler servicing packages, and household maintenance products.

Hundreds of companies offer you a % of your purchase price as cashback. Let your account build up and then cash out at intervals or at a time when you have lots of expenses such as Christmas. Also check out shopping apps such as Shopmium, Clicksnap, and Snap & Save where you can get money back on selected grocery items each week when you scan in your shopping receipt.

How Others Save: Saving Challenge & Batch Cooking

Tolu says: “one great way to save more money is to complete a money-saving 
challenge. I love doing these as they challenge me to find ways to 
reduce my spending in order to free up money to put towards the 
challenge. I have a 12 months money-saving challenge to save over £1,200 
in 2021, starting with No Spend January. 2 Weeks in, and I haven’t spent 
a penny on non-essentials. I’ve already saved £60 of my £1,200 goal, 
result! Make saving money fun and you’re more likely to do it.”

Jupiter of Life with Jupiter & Dann says; My biggest money saving tip is batch cooking. It may seem like a lot of work, but batch cooking allows you to purchase a lot of items and then use all of them in food that lasts for ages if stored correctly. Taking the time to batch cook dishes our household eats a lot, and freeze them, means that I can shop when there are deals on items in the recipe and then eat them throughout the month. It also means I am going to the store less, as I have a bunch of meals already prepped, which means I am not tempted to grab extra snacks or fill up my cart with stuff I simply want but don’t need.

Thank you to all the savers who’ve shared their tips on how they save money in their lives. I have learned different ways that previously I was not aware of. I promised you top 10 ways to save money and other savers have shared 9 ways so I will shave the last tip.

Miranda (aka me) says, if you read my 5 frugal living hacks you will remember I mentioned how I am able to save money and some of the tips are similar to have has already been shared above but I think for my, I am able to save money because I know EVERYTHING that comes into my account and I know EVERYTHING that I spend money on. Like Tolu, I love money saving challenges but I actually use an app called Plum (*affiliate link) which rounds off my spending and saves that money for me outside of my accounts. I prefer it this way because the change that I don’t often think about is saved and every month I save money then I thought I would and its extra saving money.