Monday, 11 January 2016

How To Save Money And Spend Less In 2016

* A guest post by Rebecca Smith, Bex blogs over at Futures, a UK lifestyle blog and Keen On Saving , where she advises on how to save money.

When it comes to our savings, we all have the urge to dip into the pot when the going gets tough.

Some people are resilient and manage to resist the urge but for many of us, sometimes we just have to use that cash we have so steadfastly saved for so long. Perhaps it is for something crucial like car repairs or perhaps you just have a little too much month left at the end of your money. Either way when this happens, something needs to be done - and what better way to up your savings account than by spending less and earning more! 




Copyright: scyther5 Shutterstock

Cut back on any unnecessary expenses

Do you really need Sky, Amazon Prime or Netflix? Are you really using the gym to its full potential? If the answer is no, cancel your subscriptions and put the money you would usually spend away in your savings account. You weren’t missing the money when you were spending it so why not boost your savings?

Empty pockets of change everyday

Whilst it may seem like a small amount, this will soon add up and make a nice addition to a savings account. You don’t have to add the gold coins, not even the silver ones if you really don’t want to but you will soon see the savings pot go up!

Develop some side hustles

People often have hobbies that can be monetised – these should be taken advantage of. Homemade jewellery sales, dog walking and even shopping can be made into monetised hobbies. Who wouldn’t love being paid to shop? Make some money and save it for a rainy day. Even better if the hobby is free or fairly cheap!

Get cashback

When I say this, I mean in one of two ways. Use a cashback site like TopCashback or Quidco when buying online. Why not make some extra cash when you are spending some?

Declutter & sell




Copyright: chattanongzen Shutterstock

An obvious choice but something people are reluctant to do. I have resisted selling some stuff ‘just in case’ but realised that this was not helpful to me or my savings account. Plus it left my house cluttered and left me feeling down as it just seemed to be everywhere. Adding the small amounts you make from selling your old stuff to your savings account will soon make a difference.

There are plenty more ways in which people can save more and spend less in 2016. It is all about taking a step back and taking a long, hard look at your finances. Cut out any unnecessary spending, develop some side hustles and you can have a bigger, better and bulging savings account come the end of the year.


* contains affiliate links


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17 comments

  1. Great tips. I need to save some money this year.

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    1. It's surprising how much you can save when you try.

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  2. Working freelance alongside my full time work is where most of my additional money comes from. I'd rather work more to be able to afford to do what I want to do x

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  3. Some great tips here! I definitely need to do some decluttering sooN! x

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  4. I keep meaning to start using cash back schemes, but do you need a credit card to do this?

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  5. One way that we are trying to save money this year is by wasting no food. I just hate waste.

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    Replies
    1. That is an excellent idea, I try and only buy what I need and use left overs if I can.

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  6. I am attempting to remember to use my cashback sites whenever I purchase something x

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    Replies
    1. I've made over £1200 with Quidco since I signed up. That's a lot of money :)

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  7. Great tips here the change one is a good one me and my husband always have loose change in our pockets

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  8. Some good tips. Cashback is a no brainer. Always amazes me when people say they've never heard of it.

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    Replies
    1. I always try and use cashback sites if I can.

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  9. really need to save some pennys this year. some great tips here

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  10. For saving money I use some tips too: i set clothes buying limit, my pocket contains just 20$ and I set daily limit of expenses. Thank you for sharing your tips.

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  11. We have started to declutter and have sold stuff on ebay. It soon adds up.

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