We’d all like a few more dollars in our pocket every month. But making cutbacks in your budget doesn’t have to be as difficult as you might think – and it could make all the difference to the shape of your finances.
Here are five wise ways you could save money:
Consider ‘couponing’â¦
Savvy shoppers know that getting their hands on the best cost-cutting coupons can knock more than a few dollars off their grocery bill. It’s even become something of a ‘craze’ for some dedicated bargain hunters! Check out specialist online voucher websites, such as Groupon deals, and approach all newspapers and magazines with a pair of scissors at the ready: you could get your hands on discounts on everything from toiletries to restaurant meals!
Ditch the designer labels
Most of us really can’t justify paying hundreds of dollars on clothes just because something’s got a top designer’s name sewn inside – especially if we end up wearing it just a handful of times. Try looking online or at the local mall for discounts on designer clothing, or for similar items at a fraction of the price. You might find the difference between ‘designer’ and ‘mall-bought’ is smaller than you thinkâ¦
Thinking of redecorating? DIY!
Redecorating can be costly – particularly if it’s a room with a lot of detail to consider, such as the lounge or the kids’ bedrooms. However, rather than calling out the professionals, why not approach things more economically?
See if you – or any friends and family – have any old paint you could use rather than buying it brand new, and if you know anyone who’s handy with a paintbrush and can spare a few hours at the weekend, why not see if they could help out?
Your local college may even offer night classes on things like plumbing – and remember that the long-term gains could outweigh the cost of the course fees.
Have car-free days
Leaving your car in the garage a few times every month, and walking or cycling to work instead, could save you a fair amount on fuel bills. Not only that, but you’ll also be doing the environment a bit of good – and getting an extra bit of exercise into the bargain too!
Try cutting back on ‘small spends’
Think about the smaller purchases you make on a daily basis that could be having a big impact on your finances.
Do you get a coffee from an expensive coffee shop before work every day? Why not take your own instant brand? If you use the subway, why not get off a few stops before the one you need and walk to save on travel costs? You may be surprised at what a big difference such little changes could make to your budget.
These tips could help if you’re generally managing your money well. If you’re having real problems with your finances and have fallen into debt, you might need to do more than cut back on your spending – and the debt section of the Think Money website could help you.
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