Cutting spending

[twinnywinny14]

Have just calculated all our income and outgoings and we have £120 a month ‘unallocated’ so could really do with saving some money to increase this amount as it’s tiny!! Any ideas or tips gratefully received! X

[HumourlessFeminist]

twinnywinny14, if you post your outgoings that will give us something to start with 🙂.

[ivykaty44]

Look at your electric & gas utility bills and see if you can reduce these, change suppliers & turn the thermostat down, reduce use of tumble dryer, reduce time heating is on by 30 minutes per day, all will add up to savings aim for £2.50 per week

Make sure spending on food is all from the supermarket, organising lunches, meal plan supper and sticking to a shopping list. Aim to eat two meat free meals per week and reduce your shopping bill by £10 per week

Change your council tax to 12x payments instead of 10 x payments- this isn’t a saving but by spreading the payments equally over the year it will give you approximately £200+ a year to add to your monthly savings plan. Just telephone council and request this.

Open up an account with the Nationalwide to get there monthly saver account offering 5% interest, check with friends to see if they have an account as if they recommend you both get £100

Your car will be the biggest drain on your finances, if you have more than one car then ideally reduce this to one car will save you a lot of money. Most cars stand ideal for 85% if the time. Walking and cycling are pretty much free and bus and taxi occasionally will still be cheaper than running a car.

[Lou0219]

Only a little tip. Go on Uswitch & see if you can get your bills any lower. Pay bills annually if possible. Always makes a huge difference