Money saving tips: Savvy savers reveal the ‘painless’ ways to cut costs
Money saving has become more important as the cost of living continues to rise and the impact of COVID-19 squeezes purses. Many people are looking for ways to save money which will not have a negative impact on their quality of life, or change too many of their habits. In this sense, there are a few ways in which households may be able to tighten their belts to achieve money saving success.
Several savvy savers took to the website Reddit to share their tips for reducing costs throughout the year.
The methods, they said, were “painless” – easy to execute, and even easier to maintain.
One wrote: “Buying all the basics from Lidl really helped me to save money. Their generic products are good quality and cheap, there is little distraction too.
“When I shop in Lidl I can buy 1kg chicken thighs for £1 cheaper than Tesco, so price up things. I then bulk buy and bulk cook by getting cheap containers from eBay.”
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A third revealed a tip many people fail to use when they are at the supermarket, which could help them save in unexpected places.
They wrote: “ALWAYS check your receipts before leaving the supermarket. I find errors on about a quarter of mine!
“Sometimes, I’m at fault for not scrutinising the pricing label with a magnifying glass and someone has potentially stocked them the wrong way round.
“I’ve returned produce that turns out to be 25 percent more expensive than the mis-stocked placing suggested and therefore, not good value.”
Another savvy saver revealed a banking trick which helped them save money across the year.
The person rounded every purchase up to the nearest pound, paying the difference into a savings account.
This enabled them to make small, unnoticeable savings which added up by the end of the year to buy Christmas presents.
Finally, one person offered their quick fire tips to saving money in a variety of places.
They said: “Visit supermarkets at reduction hour, typically 6.30-7.30pm and buy reduced stuff and lunch products.
“One degree lower on your heating is said to save £60 a year on the average bill.
“You should use charity shops, some of which also do furniture, and accumulate enough IT knowledge to keep your tech going instead of buying new.
“Make your own lunch and take it to work so you don’t eat out. £3-8 a day can really add up – £66 to £176 a month! This is versus £5 to £10 a week making your own lunch.”
The Money Advice Service highlighted that the best way for many Britons to save is when shopping at the supermarket.
The service states that even by taking a shopping list, 60 percent of people found they saved money.
Shopping around, scrutinising deals and switching to own brands were often cited as the best ways to cut costs.
Published at Sun, 05 Jul 2020 08:25:00 +0000