Saving...The Smart Way

woman drinking a latte from a coffee shop

Looking at saving for your dream holiday, a house deposit or a new car but running out of ideas and energy? In an expensive world there’s a lot to consider and you’re often left wondering how to make the best, most efficient savings. If you’re great at spending but rather less efficient at saving then maybe it’s time to take on board some top tips to get you on that flight and jetting off to your dream holiday. Here are some saving tricks that will help your account emerge from the red and straight back into the black.

Shop around
One of the easiest ways to make savings is to check out some helpful price comparison sites. You’ll find the best deals on anything from supermarket shopping to home insurance, mobile phones and servicing options on your car. It does take a little more time to find the deals but set up your preferences and saving money this way will become like second nature.

Do some in depth research
If you tend to let your account tick over from week to week and month to month, then you’ll want to start taking back some control. If you have debts, then take a look at each one in depth. Find out how many months you have left to pay on your loan repayments, such as the one from You may find that the easiest way to handle your debts is to push them all onto a credit card with a much lower interest rate. You will then be able to pay off more than the minimum payment each month and see the capital reduce at a much faster rate. Be careful not to add more and more debt by then using this card to make further purchases but instead use it as a tool to help reduce your existing debt.

Make changes that make sense
Be honest with yourself about what you’re spending out on each month. Do you really need to buy that luxury latte every day? Perhaps buying a reusable cup and making your own coffee every morning is going to be a smart option. The same goes for lunches too. Eat better, fresher and save money with lunch brought in from home. Those leftovers never tasted so good! Have a look at some of the subscriptions you have going out of your account and ask yourself if that money would work harder for you as savings. The same for your standing orders and direct debits. Go through your account meticulously and make firm decisions on which outgoings stay and which go. Setting yourself a weekly budget is also an excellent way of staying on top of things too.

Think smart and make your savings work for you. Set some money aside each month, no matter how small and you will, eventually, get to where you need to be. Whether you’re saving for a house or your dream holiday, look after the pennies and see the pounds grow.

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