Lots of us want to cut back on the amount we spend every month. We’d like to have some extra spare cash at the end of paying all those bills. How can you reduce your monthly outgoings though? Well, actually, there are lots of little changes you can make which add up to a lot!
Check Your Utility Bills
One of the biggest payments we make every month is our utility bills. You need to check that you’re on the best tariff with the company you’re with or swap to a company with a better deal. Lots of people worry that this will be difficult and might cut off your supply. The reality though is that there will be no disturbance to your supply and the only thing that will change is who you pay your money to. You could save over £300 a year, which is at least £25 a month.
Shop Local
You’ll save money and reduce monthly outgoings by only buying what you need. You’ll be able to do that my shopping at your local market. Why buy an entire packet of peppers when you only need one? Why buy a packet of apples when you simply need three? Local markets often have a refill stall who will refill your bottles and jars instead of you buying new.
Buy Own Brand
If you do shop at the supermarket, switch down a brand. Buy simply buying own brand instead of branded goods, you could easily save £15 on a weeks shop. Add that up over the month and year and you save a pretty penny! Shop for your food online instead and you only buy what you need.
Shop With Cash
Leave the debit or credit card at home and simply shop with cash. That way you stick within your budget as you have to. There are no impulse purchases because you can’t afford to buy them. This is a great way to cut back and keep control of your monthly outgoings.
Ditch & Switch
Think about other areas of your life you pay for every month. When was the last time you went to the gym? Get rid of the direct debit and save up to £50 a month. Call your phone company and see if they can do you a better deal, if you’re not happy with the price you’re paying, look for a new customer deal elsewhere. This is the same for your TV package, broadband and other bills. If you don’t get a discount for loyalty, don’t stay loyal. New customer deals will give you the best price so if you want to save money, jump from one to another when the initial offer expires.
Sign Up With Friends
If you have a number of subscriptions to the likes of Netflix or Disney Plus, these can easily add up. Why not sign up with a friend or family member and split the cost, whilst both having the log in details. You can often only watch on two screens at a time with one account, which means you need to trust the other to only use one screen at a time. But this is a great way to down the price of your monthly outgoings whilst still enjoying the entertainment you love!
Always Look For Vouchers
When you’re shopping online, always look for vouchers before you checkout. Make sure you’re signed up for a cashback site which you click through to make purchases even cheaper. Finally, always ask yourself if you really need what you’re about to buy. Nine times out of ten, you don’t.
As you can see, there are many ways you can stop spending as much and reduce those monthly outgoings. This means more money to put into your pension or savings account. What are you top tips for saving every month? Let me know over on Twitter and enjoy slashing those expenses!
