We’re all looking for ways to save money. How can you save it when you’re already on a budget though? If you’re serious about saving money you need to reevaluate your budget regularly and see where you can improve cutting back on your spending. Tighten that budget a little bit more and free up some extra cash for that savings account. So let’s take a look at some great ways to save money on a tight budget.
Pay Off Your Debt
When we focus on paying off our debts, we unshackle ourselves from interest rates. If you’re paying of a credit card that isn’t 0%, see if you can swap it. This gives you more chance to actually pay it off instead of just paying the interest every month. Get rid of the debt and you can start to use the money that you would be paying someone else, to pay yourself in your savings.
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Get Rid Of Your Card
A lot of us these days just carry a card around. Contactless payments are the devil. It’s even worse that chip and pin because you don’t have to put any effort in to buy things. There is no realisation that you’ve essentially just handed over £25. As it’s all done instantaneously and so easily, the amount we spend can pile up quickly. Soon you’ve spent a couple of hundred quid and have little to nothing to show for it. Leave the card at home and start paying in cash again. You’ll think about handing over that ten pound note much more than just beeping your card.
Cut Back More
You’ve likely already cut back your spending a fair bit to be able to budget. Is it possible for you to cut back even more though? Can you make you own coffee, even on that day when you would treat yourself to a Starbucks? Even by cutting a couple of pounds off each one of your budget categories every month you’ll be able to save that little bit extra.
Spring Clean You Bills
Loyalty means nothing. You will be much better off by bouncing between suppliers each year and taking advantage of new customer discounts. This is one of the ways to save money on a tight budget too. If you are wanting to stay with the same company, ring them up and check you’re on their best deal. You might have overrun the offer you were on and have reverted to the more expensive price. Always do a comparison and see the ballpark figure you are get your bills down to before speaking to your current supplier and don’t be afraid to ditch and switch if you aren’t happy with the price quoted. Be sure to click through a cashback site to make it even cheaper in the long run too!
Find out what the best budgeting apps are here.
Get Rid Of Your TV Package
You might not like this one but you should consider getting rid of the expensive TV package you pay for. Even if you don’t have Sky or Virgin, how many streaming services are you signed up for? Can you limit it to one? Or get rid of all of them and just watch what is on normal TV? There are a great range of shows available on Freeview, as well as some amazing films every evening. Film4 is awesome and ITV have been showing loads of movies, including James Bond.
These are just a handful of ways to save money on a tight budget. There are many more with plenty of ways to make that budget stretch that little bit further, allowing you to shift that bit of extra cash into your savings account.
