Tag: saving

Kids · Money

5 Basic Money Saving Tips that Really Work

Jayne2 Comments
Photo by Ibrahim Rifath on Unsplash

A lot of people assume that if they want to accomplish incredible things with their cash, they need to be saving hundreds of pounds worth of income every month. However, this isn’t really true. The fact is that just a couple of pounds placed into a savings account every week can make a huge difference to your finances in the future.

Rather than letting yourself get overwhelmed by the idea that budgeting has to mean changing your entire lifestyle, why not make some basic changes to your relationship with cash that really work instead? Here are some top tips to get you started.

  1. Think Bulk, Not Brands

When you’re shopping for essential items like toilet paper, tissues, and even cleaning supplies, it’s easy to get carried away looking at brand names and packaging. However, it’s important not to let the good marketing brainwash you. Instead, look for opportunities to save some extra money by buying supermarket-brand options in bulk.

More often than not, you’re going to get the exact same experience from a supermarket that you would get from a big-brand company, but you’ll save a fortune on the packaging. Remember, you can always buy extra of the things you always need in when they’re on sale, so you don’t run out too.

  1. Rethink your Electricity

When you start searching through your monthly statements for opportunities to save, you’ll notice that you spend cash in some areas more often than others. For instance, a lot of us overspend on food shopping, but we also tend to use a lot of our cash on gas and electricity. If you’re paying over the odds for your electricity, start by looking at offers from other providers to see if you can get a better deal. At the same time, you can also think about exchanging some of your high-consumption appliances with energy-saving alternatives.

While buying a new fridge, washing machine and other essential utensils might require you to take out a loan initially, it will mean that by the time you’ve finished paying what you owe, you’ll have much lower bills.

  1. Stop Over-spending on Drinks

Sometimes, it’s easier to see how much you spend on food from takeaways, restaurants and cafes than it is to recognise how much you’re spending on drinks. How often do you buy yourself a bottle of cola when you go shopping on a weekend to keep you going until you get home? How much do you spend on a morning coffee when you’re on your way to work.

Invest in a reusable water bottle and take it with you wherever you go. Not only will you have an instant source of hydration when you need it, but you’ll also get a health boost by switching away from sugary and caffeinated beverages too.

  1. Prep your Meals in Advance

Next time you’re going shopping at the supermarket, make a list of all the meals that you’re going to make for that week. This will help you to make sure that you’re not overspending when you’re walking through the aisles. However, it will also mean that you have everything you need to start prepping your meals in advance.

While spending an afternoon cooking and chopping on a Sunday might not seem like much fun, it will mean that you have all the food you need ready and available to throw into the oven when you get home after a long day at work. Pre-prepped meals make it much less likely that you’ll end up turning to a takeaway for food.

  1. Make Saving Automatic

Finally, if you’re the kind of person who finds saving difficult, then why not simplify the process by making it completely automatic? Take a look at your budget and find out how much you can afford to put into a savings account after your bills are paid for. Then, you can set up a direct debit that moves your money into your savings account before you have a chance to spend it.

Making saving automatic will reduce your risk of spending the cash that you wish you had put aside for later. At the same time, it also means that you don’t need to think about saving at the end of each month. Just make sure that you come and re-check your budget every once in a while to make sure that the amount of cash you’re putting into savings, and the cash you’re using elsewhere still makes sense.

Money

Easy Ways to Get your Kids More Interested in Saving

JayneLeave a comment

Easy Ways to Get your Kids More Interested in SavingAs parents, we need to teach our children many life lessons. One of which is how to handle money. Teaching your kids how to budget and save for their future will make a huge difference in their lives. They are far less likely to end up burdening themselves with debt. There are lots of ways to teach your children to be good savers, but these are some of my favourites.

Open a junior ISA for them

Opening a junior ISA from Wealthify, or a similar provider is a good idea for most families. The cash in these accounts is not available to your child until they are 18. Although from the age of 16 they can play a role in managing their ISA accounts.

Eighteen is a good age for a child to be given a lump sum. At that age, they are likely to be preparing to learn to drive, go on to further education or thinking about moving out of your home. Having some cash saved up for them in an ISA will enable them to do all of this without having to get into debt.

Get them an old-fashioned piggy bank

Old school piggy banks are still popular because kids love them. Giving them physical pocket money and encouraging them to put some of it into one is a great way for them to get the saving bug at a really young age. Even a toddler can understand that the bigger the pile of coins is the more of what they really want they can buy. So, as soon as it is safe to do so, get each of your children a piggy bank.

Open a full bank account for them

The next step is to open a proper bank account for each of them. At first, you will have to help them to manage it. But, gradually, they will be able to take over the reins. Handling money on a daily basis and getting used to budgeting so that their allowance gets them through the week is all good practice. They can use that bank account to save up for short-term financial goals. For example, holidays or buying something like a new phone or games consul.

Play games that help them to learn about managing money

Kids learn best through play. This YT video provides you with some ideas of how to do that.

Get them to help with the family budget

As soon as they are old enough to do so, get the kids involved with helping you to manage the family budget. Now, I am not suggesting that you burden your children with the full ins and outs of your finances.

But, you can, for example, get them to help you to shop around for the best power deals. Or, to find coupons for the products your family likes to eat. Giving them little tasks like this will really help them to better appreciate the value of money and learn how to save for their future.

Environment

Small Changes to Help Cut Your Carbon Emissions

JayneLeave a comment

wind farm producing low carbon energyOne of the things that I’m really conscious of is the carbon footprint of our household. Because we live so remotely, I have to drive everywhere, and I do feel guilty about the amout of carbon emissions I’m putting out on a daily basis. As much as I’d love an electric car, it’s just not in our budget to invest in one, so I have to think about other small things I can do to reduce our output as much as possible. Here are a few ideas, if you want to do the same:

Stop Driving Everywhere

Okay, so I know I literally just said that I drive a lot, but I have no choice when it comes to the school run. However, when it’s not absolutely necessary to drive, I do try other forms of transport, such as getting a bus or train. I’ve been thinking about investing in one of the fab adult tricycles from Jorvik to help me get around on days when I want to leave the car at home.

Turn Things Off

Although we’re making strides in wind-powered electricity (I can actually see a coastal wind farm from my house!), most of the UK’s energy is produced from coal. That means that every time you switch off a light or turn an appliance off at the switch when it’s not in use, you’re reducing your carbon footprint at home.

Buy Second Hand

There are SO many things that we would benefit from buying second hand, rather than from new every time. Items of furniture, for instance, don’t always have to be brand new and a cursory search on Facebook Marketplace often comes up with an almost-new version of what you want. This is a doubly good thing to do as it both reduces the amount of production in factories, and also stops rubbish from ending up in landfill.

Buy Sustainable

One of the biggest culprits in contribution to carbon emissions is cheap clothing production. Things are made cheaply and get thrown away, ending up in landfill and polluting the oceans. Buy your clothes from places which invest in sustainable production or even try to buy from charity shops if you’re able.

Plant a Garden

Whether you live in a house or an apartment, planting some greens is a quick and easy way to reduce your carbon footprint. We all know plants absorb carbon dioxide – a beneficial relationship for humans, that we should all be seeking to nurture. Plant some bee-friendly flowers, a few trees, or a vegetable garden. Balcony gardens are great for urban dwellings. This will reduce the “farm to fork” transport needs, AND you’ll know exactly whats in your food.

Bonus: Share a Car Service

If you only travel on high days and holidays and know someone else who does the same, why not share a car service? It will save you money to hare the cost and will reduce the carbon emissions of your journey by half, just by sharing it with one other person. Add more people and your emissions will be even lower!

Days Out · Family

Summer Holiday Money Saving Hacks

JayneLeave a comment

summer holiday money saving hacksWe’re now in July, which means the summer holidays are just a few weeks away and we’ll have six whole weeks of entertaining the kids to keep up with. It can be an expensive time of year, especially if you have to factor in childcare while you work, so I’ve put together a little list of money-saving summer holiday hacks for you to use, so you don’t bankrupt yourself by September!

Meal Plan

If your kids are anything like mine, your main role in the summer holiday is to keep them supplied with a steady stream of snacks, the cost of which really mounts up over the course of a month and a half. What we tend to do is meal-plan for dinners so that everything is sorted for the evening meal, and then let them graze throughout the day. Recipe boxes like Hello Fresh are a good way to keep organised and also get them trying healthy and exciting new dishes like their Chicken Laksa.

Vouchers

I know for a fact that I’m not alone in having a purse full of loyalty cards that I use each time I shop and some of the points really add up. Some cards will give you a monetary amount off of your shopping, which can be a massive help if you save them until the holidays, while others can be exchanged for days-out vouchers, saving you an absolute fortune in the long-run. Go through all of your loyalty cards and see what you’ve accrued.

Local Libraries

Your local library can be an absolute fountain of resources in the summer holidays, many of which are free or cheap. As well as being able to borrow books, DVDs and CDs, lots of libraries have reading challenges and crafting events which cost little, if anything at all. We usually allocate one day every week or fortnight to visit the library to see what’s going on.

Kids Eat Free

If you’re partial to a nice lunch as a family but don’t want to spend a fortune, loads of restaurants offer a Kids Eat Free menu during the holidays. Some of them are just walk-in deals but some of them require you to print a voucher, so do make sure you check before you go, or you might get hit with a much bigger bill than you expected!

Scour Facebook

Facebook might not be your cup of tea, but it can be a wealth of information at this time of year. Join a local parents group and you’re sure to see dozens of weekly posts regarding events that are happening near you, ideas for daily activities, reviews of the best parks and picnic spots and even selling posts for pre-loved toys that your kids might love.

Get £10 off your first delivery with HelloFresh, here: https://www.hellofresh.co.uk/plans/?c=OS10OFF

Money

5 Ways to Save Money Ahead of Summer

JayneLeave a comment

save moneyI don’t know about you, but for us, this always seems to be an expensive time of year. Between birthdays, holidays, needing to spruce up the garden and all the other expenses that pop up, I seem to be spending money hand over fist at the moment. Because of this, I’ve been thinking about ways to save, so that we’re not skint by the time summer is over, and these are some of the things I came up with:

Shop Around

Recently, we needed to buy a new tumble drier, because our ancient one wasn’t really up to the job anymore, and because it was a big purchase we decided to shop around to make sure we got the best price. There are sites to look up the cheapest prices in the UK for just about everything you want to buy, and we scoured these before making our purchase.

Check Your Tarrifs

This is a great time of year to make sure you’re not paying over the odds for all of your bills, including gas, electricity, mobile bills, internet and TV. Providing you’re not at the beginning of a new contract, there is often room to negotiate with your service providers and could find yourself saving a significant amount each month (I recently did this with our BT will and am saving almost £40 per month on that one bill!

Scrimp on Fuel

Do you take the car on unnecessary short journeys where it would actually be possible to walk instead? I know SO many people who drive when they could walk and they’d save loads across the course of the month if they left the car at home. There are also websites and apps which tell you which petrol stations nearby are the cheapest, allowing you to get the best value there, too.

Use What’s in the House

We’re naughty when it comes to food and tend to buy our meals on a day-to-day basis, but recently I decided that we were going to actually use up what was in the house. It meant a few days of slightly odd meals that you probably wouldn’t eat ordinarily, but it saved us from buying new stuff and helped make space in the cupboard and freezer for new shopping.

Check Your Subscriptions

I know so many people who subscribe to the full TV package and never watch the channels, or have services like Netflix, Disney Life or Amazon TV and rarely use them. Do a stock-take of all of your subscriptions, including newspapers and magazines, and ditch any that you barely use.

How do you save money?