Money saving tips: Savers reveal top hacks – ‘the possibilities are endless!’

Money saving tips: Savers reveal top hacks – ‘the possibilities are endless!’

Money saving tips have provided particular assistance to those who are embarking upon a journey of saving. By putting into place certain actions and habits, Britons have managed to make savings which are likely to impact upon their way of life. Several savers took to the website Reddit two years ago to discuss their money saving hacks, and it is likely these tips will help those tightening their belts during this time.

One wrote: “Get specific things at the grocery store only when they are on sale. For example, I’ve noticed at my local shop that prices for steak and chicken fluctuate a lot.

“One week chicken might be at a higher than usual price while cube steak might be on sale, so I buy steak. Next week the chicken might be lower.

“Non perishables are easy as you can just stock up whenever it is on sale. Buy in bulk if possible.

“If you have the space and the time, you can also grow your own herbs and vegetables. It makes a great hobby too.”

READ MORE: HSBC: Savings accounts for Britons explained

“Write all your monthly returning expenses out and everything you earn. You should track this, know what you are doing and research. The possibilities are endless in the way you can save money.”

A third revealed how they managed their money to make savings through bank accounts.

They wrote: “The first paycheck of the month – nearly all of it is moved to savings, and I leave about £50 for emergencies.

“The second paycheck is used for bills and I move the rest to savings. Work this structure around you and double check for balance charges.”

And another gave extensive advice on credit cards, saying: “Pay off any outstanding credit card debt and do this before you make any other money related decisions.

“You should also get a card with double miles or cash back if you don’t already have one. Use this card for every single purchase you can, no matter how small – a cup of coffee or weekly groceries.

“Then pay the bill in full every month with no exceptions. The end result is that you’ll be getting free money back for things you would be buying anyway.

“This does require you to already be a responsible spender, but if you can do all your buying this way, the miles or cash back will add up fast.”

And a final saver offered advice on buying in bulk which could save shoppers hundreds across the year.

They said: “Stockpile – when we do it we get stuff on sale and only stuff we know we will use.

“On our last shopping trip, for example, we got five boxes of ready made coffee, eight makeup wipe packs, 10 cans of black beans, corn, chickpeas, bean mix and other items.

“The May shop was £848 for the month, but this month it is £480. It is a bit confusing at first, but you get the hang of it.”

The Money Advice Service has offered Britons key advice on how to slash their supermarket costs.

Steps such as sticking to a set shopping list, trading down brands, and examining the cost of an item per kilo are all considered the top ways to save money.

Published at Fri, 19 Jun 2020 18:00:00 +0000