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Are you looking for money saving ideas and ways to save £100’s every month? Who wouldn’t like to save money each month?
Wouldn’t lowering your monthly outgoings enable you to be debt free a bit quicker?
When I started looking into exactly whereI could save £100’s every month, I really couldn’t see where we could make cut backs. I didn’t see myself as extravagant in the supermarket, I didn’t have a passion for designer clothes and exotic holidays.
Wasn’t I doing everything right already? No, as it would turn out. What I needed were money saving ideas.
Sometimes you’re so far in the thick of it that you stop being able to see clearly or think clearly.
Once you take a step backwards, things can seem a little clearer.
I’ve out this post together because this is how I started out lowering our monthly outgoings, freeing up more cash to pay down debt. These are the things that have worked for my family and me.
Always make sure you check sites like Daily Deals UK to make sure you’re not missing out on offers, then go through these things listed below. They’re easy wins and they’ll put more cash back in your pocket, and hopefully give you some ways to save £100’s every month.
Switch energy providers
The first thing you should do is switch your energy provider to a cheaper one. This is such a quick easy win. Simply go to any one of the many comparison sites, see which could save you the most amount of money and you’re done.
Switching energy providers was one of the first things I did. I couldn’t remember the last time I had even looked at the options I had. I just blindly paid the bill each month. We ended up saving over £600 a year, that’s £50 a month, for 10 minutes on a laptop.
After kicking myself, I then moved onto other places we might be able to save money!
Sue Foster from suefoster.info has a great post here about saving energy…it’s well worth a read!
Save £100’s every month – Switch car insurance
Next on my list was insurance for the two cars we run. Like the energy, I tended to stick with the same company year after year, even though I knew our premium went up.
The same comparison site that gave me a new gas and electricity provider also gave me new car insurance.
I decided to wait the 3 months until our old policies ran out to avoid paying the penalty. Weigh up the costs of cancelling your old insurance against the savings from a new insurance. If it’s worth it, move. If not, put it in bold on your calendar and make sure you switch as soon as you can.
I’ve made a note to do this every year from now on. New customers generally get the better deals, in the hope you’ll forget to check their renewal price. I used to do that. Not anymore!
I also did this with our house and contents insurance. Check ALL your insurances. Some you’ll save on, some you won’t, but at least you’ll be aware of what you’re paying and confident you’re getting a good deal.
Money saving ideas- Meal plan
I can’t shout loudly enough about the benefits of meal planning.
By using a meal plan, you’re avoiding all the small but horribly expensive mid week trips to the supermarket. No longer will you stare blankly into the fridge and wonder what to make for dinner.
There are HUGE financial benefits of meal planning. I cut £35 a week off our food shopping bill by meticulously planning the weeks meals. That’s a crazy £140 a month.
There are other benefits to meal planning as well. Food waste being one of them. You’ll find you throw away less food because it’s all accounted for and you’ve only bought what you need.
In our house, I found we started eating a lot more healthily. It’s easy to reach for fast food and the easy, and quicker things to cook when you’ve got in after a long day and need dinner fast. It’s easy to plan healthy dinner’s. And if there’s some left over for lunch the next day then even better.
Money saving ideas – Pay with CASH
Following on from meal planning, paying in the supermarket with cash keeps you on the straight and narrow. You’re a lot less likely to impulse buy those BOGOF offers if you’ve only got enough cash to pay for what’s on your list.
Use cash for all your everyday purchases. It’s harder to part with than a card and you’ll spend mindfully and not mindlessly!
I wrote about how much I LOVE using cash these days, and I’d say it’s possibly made the biggest change to my mindset since we’ve been paying down debt.
Try it for a month, nothing lost nothing gained. But you might be like me and just take to it.
I can’t see us going back, even when that day arrives we’re working towards and we officially become DEBT FREE!
Are you due a phone upgrade? In this household of 5 we spend a fair amount on mobile phone contracts. Every two years we get an upgrade for ‘free’ upgrade.
Until now, we always took those upgrades. Then I started to wake up from the financial stupor I’d been in and took stock.
What was this upgrade actually costing me? Well, I’ll tell you. A quick bit of maths told me that my £40 a month phone contact was costing me £960 over the 2 year contract. What if I didn’t upgrade and instead kept my phone for say, another 2 years and just got a Sim card?
This would cost me £12 a month for exactly the same data package I already had.
In doing this, I will save £672 over the 2 years and that’s just on ONE phone contract.
Do I really need a new phone? No. Would I really like a new phone? Yes.
Debt free living or a new phone? That’s the question. And when it’s put like that, I wonder how I’ve chosen the new phone for so many years.
Save money eating out
Do you love to eat out? We do too, although it’s a lot less these days than it used to be, and it comes around with strings attached.
What used to be a several times a month thing is now a twice a month thing. Meal planning has helped MASSIVELY with stopping the need to go out and grab some dinner, but we still enjoy going out together as a family for food.
So I use discount vouchers, and I plan ahead. If I have enough Tesco clubcard vouchers I turn them into restaurant vouchers, in which case a meal for the five of us might only cost us £15-20.
If I do not have enough Tesco vouchers, or I’m saving them for Christmas/birthdays etc….then I search online until I find a 50% off voucher.
That’s the condition. It has to be discounted.
Google the restaurant you want to visit and see what comes up. If there are no vouchers available, try another restaurant. And unless you’ve got Tesco clubcard vouchers, accept that Friday’s and Saturday’s are generally out!
Money saving ideas – Do you need a gym membership?
We used to pay £81 a month for a gym membership for our family of 5. Yep, that’s £972 yearly and that was nothing too fancy, just our local council run leisure center. We did use it sometimes, some of us more than others!
Could we get the same effects of the gym without the gym membership? Yes. So we did.
Collectively as a family, we now do the following FREE things that like the gym, keep us fit and healthy with the added benefit of getting some fresh air as well.
It’s easy to use our local parks outside gym equipment, we walk the dog way more than we used to, we go running, we walk to the shops and CARRY the shopping home.
We also invested in kettle bells for our house and use them alongside a free YouTube class.
It’s possible that we do slightly more now that we’re conscious we don’t have the membership at the gym anymore.
Will we rejoin the gym when we’re debt free? Yes, but right now there are more important places for our cash to be going.
Blog Tuppenny’s Fireplace has some great tips here on saving money, and well worth a read if you’re looking for some more money saving tips!
Do you have any brilliant swaps you made to save money each month? Have you managed to save £100’s every month?
I’d love to hear about them!