saving money is something a lot of people struggle with and its easy to understand why there are so many things being advertised to us everyday it can often become hard to stick to you budgeting plan below are some of the tips that help me save more money.
Limit time on social media and watching the tv
This might seem like a bit of a weird tip but the reason I say this is when we watch tv or when we scroll through social media we get advertised to a lot and limiting the time you spend on doing these things therefore means you are spending less time being advertised to and hence you should be spending less money (at least that’s the idea) the big one for me to avoid however would be social media the algorithms they use for the advertising are very targeted to you so its more likely you’re going to spend money.
Save a set percentage
I have another article on this site about the 50/30/20 rule that would be a good thing to read about budgeting but essentially choose and amount you want to save and stick to it, the key here is to make it achievable and something you are going to stick to for example if you try to save £1000 a month but only stick to it for 2 months that’s worse than say £500 that you can stick to for the foreseeable future, you need to be able to live your life but don’t save too little earlier otherwise you’ll start to loose interest.
Cut Down On Expenses
I know this is what everyone says but that’s because its a big thing, cut down on expenses you don’t need for example if you’ve got a car that costs £500 a month to run it might be a good idea to have a look for a cheaper alternative or if you have expensive subscriptions you don’t actually use get rid of them and save the money you save by cutting these down.
Try And Increase Your income
the more you earn the more you can feasibly save ways you can increase your income include:
Starting a side hustle
Getting an additional job
there are of course more options but these are the main ones I would use whilst this isn’t a necessary step this will drastically speed up the process or enable you to save more so you can get a better rate on your mortgage or even buy the house outright.