Ways to save money in 2018

It’s a new year and that means a fresh start for your finances!

2017 might have been rough on your wallet, but it’s never too late to change things and get your finances into shape again. Here are some simple ways to save money without going to extreme measures.

1. Cancel unused memberships

Instead of signing up to the gym this year, use the new year as an excuse to look over existing memberships and see what you could do without. Even if it means paying more expensive non-member prices later, it’ll probably still be cheaper than paying another membership fee.

2. Join more loyalty schemes

Loyalty schemes that are free to join are a great to increase your savings. There are a lot of schemes you might not have heard of that can help you gain access to freebies or vouchers. Below are a few:

Asos A-List

Nando’s Card

Boots Advantage Card

Sainsbury’s Nectar Card

3. Be sale savvy

Think about the necessities you actually NEED and see if you can get them on the cheap during the January sales. Think more of a new toaster than Gucci.

4. Delete your credit/debit card details from online shopping

By doing this and manually having to type your details in every single time you want to buy something online, you will consider whether you actually need to buy it or whether you’re just doing it because it’s super easy.

5. Home breakfast, and pack lunch

It’s so easy to get into the habit of buying food on the go, especially when you’re hungry. Eating a big breakfast that keeps you full until lunchtime and preparing lunch from home can definitely save you money.

6. Get a railcard

If you travel by train more than a few times a year a railcard can help you slash what you pay.

They can save you a third on standard and first-class off-peak tickets.

7. Automate your savings

There are more and more ways to get into the savings habit without doing much.

Lloyds Bank and TSB offer customers a ‘Save the Change’ feature which rounds to the nearest pound each time you spend and shift this into a savings account.

Alternatively, you could use a free automated savings app like Chip. It monitors your spending habits, works out what you can afford to save and withdraw out of your account.

The app is available for Android and iOS devices.

8. Pay less tax

You can easily pay less tax without breaking the law. The taxman can’t touch money you save into a regular savings account or profits that fall within the capital gains tax allowance.

Check our latest top regular saving accounts here.

 

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