Often money saving tips will advise you to cut back on the things you enjoy, like nights out, holidays, eating out, coffee on the go or snacks, but it is possible to save money while still getting everything you want. The following tips explain how to save money without having to give up what you love.
Switch your mortgage
Look on price comparison websites for mortgages. The deals on offer change over time and you may find you can pay off your mortgage sooner than expected, or reduce your monthly payments.
Switch your bank accounts
As with mortgages, it's worth browsing price comparison sites to see if you could get a better deal. If your bank account is more than a year old, then you might be getting a better deal with a different account, or with another bank.
Keep track of your spending
If you regularly monitor your spending, you're more likely to identify times when you've spent more than you realised. It might be a regular purchase that could be bought in bulk, or a store in a more expensive part of town. Money Dashboard is a personal finance management tool that automatically groups similar transactions on your cards and accounts, to allow you to see clearly where your money is being spent.
Save at the supermarket
Low cost Supermarkets like Lidl and Aldi don't always have the most popular brands, but they are often significantly cheaper for the weekly shop. There's also websites like Mysupermarket that allow you to shop for common brands online, and checkout your list with whichever of their eleven high street supermarkets will give you the best deal for those items.
Reduce your bills
Use price comparison websites to look at your options for gas, electricity, home entertainment and broadband, and mobile phone service, to see if you are overpaying. By switching provider you can often reduce your bills without reducing your service, and your original supplier will sometimes offer you the same deal to stay.
Public transport discounts
If you take the train regularly, see if you are eligible for a railcard. If you can avoid travelling at peak times, you might save with off-peak ticket. Buy tickets for travel online as far in advance as possible. Tickets go up in price as the travel day approaches.
Go wherever the wind blows
If you are keen on a specific destination for your holiday, booking far in advance is advisable. However, last minute travel websites often have great deals on flights, hotels, or package holidays. Try to travel on weekdays rather than weekends to save more, but be aware that some websites, budget airlines in particular, will add several taxes and charges to the advertised price when you go to buy.
Plan your budget in advance. Buy an international calling card, or ask your mobile phone service provider about short term roaming deals, to avoid expensive charges using your mobile phone abroad.
If your income is less than your outgoings, it's still worth examining your lifestyle to see if there are any luxuries you can manage without, but these tips will help you to save money even if you aren't willing to give anything up.