Techniques For Saving
By: Abby Hindle, Halal Incorp
With everything going on in the world today, it’s always good to learn a few new techniques for saving money and ideas for saving some cash. This topic is on many people’s minds right now, but not everyone is a financial expert. Maybe you’ve never had to wrangle with personal finances before. Maybe you’re just not very financially minded. Maybe you’re just looking for any extra ideas to help save. Regardless, there are many good reasons to want to reduce spending, so here is a list of tips to help you manage your money better.
- Checking Your Utility Providers
There are many sites you can use to compare different providers to see if you could be saving on gas, electricity, and other household utilities. There may not seem to be a significant difference, but even a small amount each month can add up over time, making this option well worth looking into.
- Checking For Unnecessary Subscriptions
Many people sign up for services they think they’ll use – gym memberships, streaming service subscriptions, and so on – only to realise months later that they haven’t got the use them as they intended. Checking for subscriptions you don’t use enough to justify the money you spend on them is a good way to cut down on pointless monthly expenses.
- Using Incognito Browsers
Companies can track what websites they’re browsing and use that information to their advantage. Using an incognito browser automatically deletes your browser history, preventing companies from tracking what you’re buying and putting prices up. This is one of the least used techniques for saving money used by online shoppers.
- Be Wary Of BOGOF Sales
Buy-one-get-one-free sales are tempting but rarely as good as the offer seems. The average person in the UK spends around £1300 a year on unnecessary buy-one-get-one-free purchases.
- Keep Track Of What You Buy
An obvious tip, but a good one. Note down what you’re spending money on. Use a calculator on shopping trips to keep track of exactly how much you are spending. This helps you stay within budget and lessens the temptation to buy more than your need by showing you how much unnecessary purchases add up.
- Shop Own Brand
The supermarket’s own brand gets an undeserved bad rap. It is usually just as good quality as other products, and much more affordable. Buying a supermarket’s own brand products can help you cut down considerably. Cutting a few pence off a packet of pasta may not seem like much, but it all adds up. You might be surprised how much you can shave off your average trip to the supermarket simply by shopping for your own brand.
- Unplug Your Devices
Yes, your plugged-in and switched-on devices do leak out small bits of power even while not in use. Instead of leaving items charging for hours, charge as much as necessary then unplug. Make sure to turn off electrical devices like toasters, televisions and kettles off at the plug overnight or when you know you won’t be using them for significant lengths of time. Again, it might seem like a small thing, but you’d be surprised how much small things amount to when added together.
There is a wide range of things you can do to earn small bits of extra cash on top of your regular job, that only take a bit of time and energy. Some sites, such as YouGov, PineconeResearch and Prolific, pay for people to complete surveys on their sites. Some pay up to as much as £50 per survey. Other options are available too, such as reselling old clothes on websites such as Depop. These take minimal amounts of time and effort and can really help you get some extra cash.
Techniques for saving: Many people are looking to save a bit of extra money right now. Hopefully, this list can provide some options you haven’t thought of, or provide inspiration for different ideas on how to save or make money.
Disclaimer: The view of the author does not necessarily represent the views of Halal Incorp.