Everyday money saving tips..

[Montana7]

DH & I were so blasé with money over the past few years, fritterimg away our disposable income.... We really need to scale back, any tips or advice appreciated especially around utilities & shopping... Thanks

If I see something I like in a shop I either take a photo or add it to a list I have in my notes. If it is still desirable to me in X amount of time I consider going back to buy it. Usually I’ve gone off the idea and can delete the photo/item off the list. This is also helpful when I’m asked what I want for Christmas/birthdays as I’m not randomly fishing for ideas.

I agree with the advice to start by writing down absolutely everything you spend for a month.

As much as poss secondhand, but if you buy new and have the funds, get something decent you won't have to replace too soon.

Don't put the heating on much and make sure you draught proof. Wear some clothes a few times before washing.

Go for cheap days out and take your own snacks or sandwiches. Be careful with food so you don't throw it out or pay for convenience food. Restrict how often you eat out or have take away.

Basically, live quite boringly!

I saved a fortune getting DC bundles of clothes secondhand. They still get gifted nice bits but we have tons of clothes that can get ruined at nursery etc and it doesn't matter.

God I hate the word 'fritter.' My tightwad ex husband used to accuse me of it all the time. Spend all of the money OP. (Spectacularly misses point of thread)

Unsubscribe to emails from online stores. If you don't get the emails then you're not tempted to look at 'What's new', and can help stop impulse buys that you don't really need.

Be more motivated with selling your unwanted stuff. I usually have a constant turnover of old clothes on Ebay, but a few years ago I decided I couldn't be bothered and gave a whole load of stuff to a charity shop, which I then regretted as I could've got money for it. It doesn't make financial sense to give stuff away for free when you could sell it. Charity shops are overwhelmed with donations anyway.

Have a no new clothes year- I did this for 2021 and only bought shoes for work. Saved time too as I can fritter away whole hours in TKMax and charity shops

We are a family of 6 and shop for some
Things in bulk at Costco. Makes a big difference for us. Loo roll, pasta, part baked bread etc

1. Get a proper system that actually works and use it each month. My salary goes in, I transfer the correct amount to pay all bills to the bills account (joint with partner), some to savings and the remainder split between essential spending (food, fuel) and personal spending (clothes, beauty treatment, socialising with friends. The trick is actually allocating enough money to each pot. I would start each month promising to only spend £100 on personal stuff which was unrealistic when I had a £65 hair cut booked and 2 nights out. I’d have overspent by week 2, then decide “fuck it” and end up buying clothes, make up etc and spending all the savings too. Now I allocate myself £350 for lunches at work, hair, beauty, clothes, socialising. I never go over because it’s a fair amount and feels generous; spending £350 and saving £150 is better than aiming to spend £100 and spending all £500.

1. TopCashback EVERYTHING. You can save loads if you do stuff like insurances and big purchases on there. I have recently got £60 cashback on car insurance, £30 on a winter coat, £25 for referring a friend. It stacked up to £450 over a year and we used this to replace our washing machine when it was needed.

1. Put money aside for yearly bills each month; birthday and Xmas, car and home insurance (pay it annually to save money)z

1. Watch MSE for other opportunities. I made £700 over several years switching bank accounts and got a £400 flight refund 6 years after the flight on their advice!

On payday I put away savings and money for annual expenses (I do car service/mot, insurances, new school year expenses, birthdays, Christmas, holidays, dentist etc). Put this money somewhere where you can't easily dip into it. Reassess annually if there was enough in each category.
For the money budgeted for the month I use 2 accounts.
Bills and direct debits on one account. No spending from this account as otherwise not enough to cover bills. This should be a good deterrent :)
Food, petrol, spending money in a different account. Divide each into weekly amounts as its easier to stick to budgeting with a shorter time frame.

I only use my bank card once a week, i take out what i need for that week and not a penny more. A shopping list and meal plan will be your best friend so you will only have to go near a shop once a week. if you are going to a supermarket/corner shop more than that you need to be more organised.

@Montana7

I hear ya, wine is my vice as well... I like a couple of glasses Fri & Sat night to unwind but I'm very particular & like a bottle in the region of 10 to 15 quid... Thinking a couple of G&Ts might be more economical as a bottle of gin would last much longer 🙈

I'd consider having a look at the wine society, if might be a gateway drug so hopeless, but it's a cooperative wine sales thing, no regular spend or anything and I can get wine I really like for circa £7 a bottle.

Also vacuvin corks if you don't already use them: means you're not striving to use the rest of the bottle.

I think ultimately all this is fiddling round the edges though: go on mse, go on debt free wannabe, or mortgage free wannabe in the forums, have a read and do yourself a proper budget.

My absolute favorite tip is "pay yourself first". Get some savings standing orders at up and pay into savings when you get paid - then if necessary you can get that money back out but it really makes you think twice about it. I split those savings into short and medium term - short term pays for car insurance/repairs, holidays and any other annual bills. Medium term would be if I need a new car, or for moving house etc.

@Montana7

I hear ya, wine is my vice as well... I like a couple of glasses Fri & Sat night to unwind but I'm very particular & like a bottle in the region of 10 to 15 quid... Thinking a couple of G&Ts might be more economical as a bottle of gin would last much longer 🙈

Perhaps so for the gin but also look for offers on the wine you like, providing that having more in the house doesn't lead you to drink more, of course.

For example, before Christmas, I took advantage of offers in Waitrose that had 25% off various bottles of fizz that reduced the price from about £12 to about £9 per bottle. And I had a voucher from my Mywaitrose card to get £8 off for spending more than £40, so an extra saving.

Most supermarkets do a 25% off if you buy 6 bottles offer so look for those and buy 6 or even 12 bottles then if you can afford it.

Vinted for clothes.

Don't buy shit you don't need. Get into an ethical consumption mindset so you buy less automatically.

Thanks everyone 😊