How to save £100’s every month

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I’ll admit it, my initial thoughts on finding money to save were of the standard ‘we don’t have any spare money’ variety, and I’m sure that a lot of people would share these thoughts when challenging themselves to find money to put aside each month. I was fully prepared for this to be a tough call to be honest. It wasn’t, and the jokes on me for allowing us to throw money away for so long. I started with trying to find £50 a month that could be taken from elsewhere, not missed, and wouldn’t leave us short. Every month we’re ok…ish. We sometimes overspend, never under spend and most months  break even, if nothing major has come up. But since we’re now in the business of taming the beast that is our mortgage, it’s time to have an overhaul and see where we can make saving, cutbacks cut-outs.

How I started saving money

with was our food shopping bill. We spend roughly £150 a week on food and drinks for the five of us. It’s a lot of money. I’ll justify this in my head by saying that we eat well, we eat a huge variety of foods etc….but I know this is rubbish. I’m a lazy shopper, I enjoy browsing the supermarkets seeing what takes my fancy and I don’t plan well enough. Previous to this, I didn’t plan at all.

What I did next…

not to dwell on a past that can’t be changed, only learnt from, I did think that saving only £20 a week was a little pitiful, but you know what? I’m going to take that £1040 a year, and put it straight into the fund. I mean, when you look at it like that, it’s HUGE. I will try very hard to save even more just from the food shopping. I don’t know how successful this will be.

Finding the time

my nightshifts looking at out household bills and seeing where we could make savings by switching providers etc…and I’ll tell you now, we are not the sort of family that stays on top of things like this, much to my horror after I discovered how much money we’d been throwing away.

The bills that have to stay the same….so uhmmm….just the council tax then(!) did just that, oh and the water actually as well, but everything else was able to be reduced or in the case of out houses’s FIVE mobile phone contracts, I’ve made a note of renewal dates and while I’ll let the kids upgrade theirs, I won’t be upgrading my own, since for the same sim only data contract, I can save a whopping £36 a month.

Utility bills

I did wind up staying with the same supplier for a reduced combined bill saving of £19 a month, Sky I rung and cancelled the answer machine that no one ever uses and the sports channel that no one ever watches, saving another £22 a month, and finally I changed 2 insurances and saved £17 a month, exchanging them in one case for a better insurance. No brainer.

The savings I made from this alone amount to £94 a month. I’m amazed.  This is £1128 a year, and combined with the food saving, yearly we’re going to be able to put £2168 into the mortgage fund pot without even noticing anything at all. Crazy, eye opening day for me.

I had a figure of £1000 a month in my head to be able to overpay the mortgage by, which seemed huge and out of reach. Now, I believe it might be possible. Of course, the savings we’ve been able to make so far only cover just over 2 months of this goal, but with selling online and making extra income, there now seems to be a small glimmer that maybe, just maybe, this crazy dream is possible.

If you’re like me

I put it off and put if off and I can only say I’ve been there and wish I hadn’t waited for so long. In my case, the more I saved the more determined I became to save more. I’d go as far as to say I enjoyed it after a while.  I also started to work out how much money we’ve potentially wasted during the last, oh, 15 years….but stopped myself because it’s pointless task if ever there was one. I guess it’s better to start now than not start at all, but it’s a stinger I can tell you.

Don’t waste another day.

1 thought on “How to save £100’s every month”

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