Easy savings

buy-cash-coins-9660.jpg

Saving money can be a tough job and it can be hard to build a savings fund. But what if growing a nest egg didn’t have to be such a struggle? Here are 10 easy ways that you can save some money every single day with minimal effort.

1. Have a money session – If you’re trying to grow your savings, a weekly money session is something that can really help you in the long run. Once a week, spend half an hour reviewing your accounts and your budget. By doing this, you’ll develop a stronger relationship with money managing, which will help you to save going forward.

2. Start a coin jar – It sounds simplistic, but it’s an incredibly easy way to save cash. Get an old jar and start filling it with any loose coins in your purse. After a period of about three months (or when the jar is full) empty it and count your coins. You might be surprised at how much you’ve accumulated. For best results, try having jars for specific amounts. For example, a €1 jar that’s only for loose €1.

3. Curb guilty pleasures – Whether it’s a latte from your favourite café every morning or a weekly cinema date, spend five minutes making a list of your guilty pleasures. Now, see if you can cut them down or replace them in any way. For example, instead of having a latte every morning, could you cut it back to once a week? It’s a small change, but could save you up to €50 per month. Imagine how much of a dent an extra €50 would make to your bills?

4. Delay gratification – A lot of the spending that we do is on impulse. The good news is that we can reduce our urge to impulse spend. The next time you see something that you’re tempted to buy, promise yourself that you’ll wait 48 hours before purchasing it. Chances are within those 48 hours you’ll realise that you don’t actually need that particular item or you’ll feel more at ease waiting until you have some cash set aside specifically to make that purchase.

5. Try something new – Many of us spend our evenings slumped in front of the television and those hours of TV can result in a hefty electricity bill. Instead, why not try cutting back on your TV habit and replacing one or two of those hours with a new hobby? Why not learn how to knit, do calligraphy or embroider something? Or why not join your local library (it’s free) and spend an hour reading the latest bestseller? You’ll be gaining important skills while also reducing the cost of your bills. It’s a win-win situation.

6. Actively make cash – Look around your home. Is there anything that you have that you could sell? From clothes to shoes to collectables and china, everyone has something that they no longer want which could fetch them some extra cash. Explore using a website like eBay.com to help you make money from your unwanted items.

7. Socialise for free – Going out on the town can be a massive black hole when it comes to your cash. By the time you’ve paid for drinks, transport and dinner, you could have spent up to €100. Instead, why not think of fun ways that you can socialise with your friends for next to nothing? Why not host a dinner party at home and ask each person to bring a dish with them? Or why not have an evening of playing card games or watching films? If the weather is nice you could even have a picnic in your back garden – the possibilities are endless.

8. Review your meals – Many of us don’t think about the cost when it comes to cooking our food, we just want the instant gratification of a hot meal. But rethinking your meals could save you a nice little sum. Review the meals that you enjoy cooking and price each of them. Is there anything you could do to reduce the price without compromising on flavour? Could you make double the amount so your monetary investment in the meal stretches further? Are there any new recipes you could try that have a lower cost per serving? Get creative and see what you can cook up.

9. Only spend cash – Instead of relying on your bank card or credit card, try to only use cash. If you don’t have enough cash in your purse, don’t purchase. Remember – every time you use your bank card or credit card you are causing those small fees to rise.

10. Go generic – Instead of picking up the usual brand when you’re grocery shopping, try picking up the generic version. While some will argue that you’re compromising on taste, many generic versions actually taste the same as the brand name products. Start small and try swapping branded rice, pasta and cereals for generic versions. You should see a big difference in your weekly shopping bill.

Woman's Way