Saving money is hard. Especially when you don’t know where to start. To help you kick-start your journey and make your bank account bulletproof, we’ve compiled a list of seemingly small day-to-day habits that may actually be breaking your bank.
1. Paying for streaming services you don’t use 🎬
If you’re like me, then you’re guilty of paying a subscription to every streaming channel. Naturally, this adds up, and quickly, especially when services are continuing to increase their costs. But have you ever thought about how much time you actually spend on each of the services? It’s a question not many people have thought about but when you review your regular TV habits you might be surprised at how little you actually use some of them!
2. Not using loyalty cards 🤝
This is something I’ve consciously been trying to implement into my daily routine because, hello!!! Free discounts!!
If places you shop at all the time want to give you money off, why would you say no? Get a stamp every time you go to Cafe Nero, bring your own cup to Starbucks, and whip out those Boots and Tesco rewards cards. These are easy ways to spend less each day daily without sacrificing the things that make you happy or having to change your daily routine!
3. Wasting energy 🔌
Little actions can make a big impact when it comes to energy expenses, especially during the current climate. According to Energy Saving Trust, turning devices off at the plug could save £65 a year, turning the lights off when you leave a room could save you £25 a year, and having a 4-minute shower could save you £95 a year - that’s £185 saved a year on very small changes that with time will just become routine.
To keep track of your avoidable outgoings, consider getting a smart meter installed in your home. These allow you to see your exact output when it comes to household appliances and makes you aware of things you could cut back on.
But this doesn’t need to be a stressful or doom and gloom thought, don’t think “Oh I need to make sure my shower is only 4 minutes” instead think “I’m going to see how quickly I can do this” and make it fun. If you go over 4 minutes that’s okay!
4. Snack habits 🍫
Trust us, we’re not here to shame anyone for snacking (it’s the best!). But instead of stopping at the store each day to pick up your favourite snack, plan ahead and pick up multipacks. While you’re at it, buy a refillable water bottle instead of repeatedly spending on plastic ones, this offers a trio of benefits; save money, help save the environment and keep hydrated as you snack on that multi-pack of hula hoops.
5. Ditching your change 💰
Yes, that magical thing called cash still exists in our post-covid world and change can be cumbersome. However, it also adds up. Instead of throwing it to the bottom of your bag (I’m so guilty of this, my bag has practically become a piggy bank 🙈) try saving coins in a jar and periodically bringing it to your local bank where you can deposit it straight into your bank account. You might be surprised at how much money you have lying around, we’ve heard between sofa cushions is a popular place for the “copper” kids to hang out 🛋(sorry, we agree it’s a terrible pun but one of our team loved it so insisted)
6. Using any ATM other than your banks
If you need cash, be wary of using another bank’s ATM as this can come with huge transaction fees that you might not be aware of. If you need to carry cash, stop at your own bank and take out enough to last you for a while. This is a great tip to keep in mind whilst travelling because those transaction fees can seriously rack up!