It’s important to save money but you need to take care of your wellbeing too. Here are ten simple ways to save money without compromising happiness…
If your financial health has taken a hit over the past 15 months, you are not alone. Sadly, those issues are likely to have harmed your mental health and happiness too. Now is the time to regain control. The only way you’ll achieve this goal is to boost your finances without sacrificing your quality of life. Here are 10 top tips to make it happen.
1. Change suppliers
We are all guilty of wasting money by paying for services that do not signal the best possible deal. Whether it’s changing the price plan on your phone contract or switching to a different energy supplier, the savings are instant. Better still, you will gain the benefits without any negative influence on your lifestyle.
For example, you won’t miss the 50 TV channels that you haven’t watched since 2018. But you will enjoy the extra money in your bank account each month.
2. Lose the coffee run
When looking for ways to save money, the small but daily changes often yield the best results. Trading the daily trip to the coffee shop for a homebrew could save you over £100 per month. Besides, reusable coffee cups and home blends will help reduce your carbon footprint/ it’s great for the planet and your pocket.
Furthermore, this reduces your interactions with strangers. In the era of coronavirus, this can be an immensely important feature.
3. Repair, don’t replace
Items break due to wear and tear. Unfortunately, many people fall into the trap of prematurely replacing every appliance or product. There are many situations where appliance repairs are a cheaper option. Crucially, it also saves you from having to familiarise yourself with a new product.
For the sake of convenience as well as your bank balance, this is a wise move. Similarly, upcycling old products into something else can often support the cause.
4. Quit bad habits
There is nothing wrong with spending money on enjoyable activities and products. However, the financial benefits of quitting cigarettes or reducing your alcohol intake are clear. They can become your greatest source of motivation. Not least if some of the savings are spent on clothes or other items that you love.
When the financial elements are combined with the current climate, that has never been a better time to focus on this goal.
5. Go green
Eco-friendly upgrades aren’t only great for the environment. Whether it’s solar panels or energy-efficient appliances, the products pay for themselves by reducing your bills. LED lighting, roof insulation, and double glazing are all wise investments too. In some cases, you can even gain government funding.
Away from the home, switching to an eco-friendly vehicle is one of the best ways to save money in the long run while also saving the planet.
6. Earn on the side
Technically speaking, this step isn’t about saving money. Nonetheless, finding ways to generate a little money on the side will work wonders for your finances. Better still, the time spent actively earning money will prevent you from wasting money elsewhere. One popular choice is to turn your hobby into a side hustle.
When your revenue increases, the strain on your spending is far less. As such, this is something everyone should try to achieve.
7. Organise your bills
There is no greater waste of money than late payment fees and other fines. The best way to avoid this is to ensure that your financial management is under control. Several tools and apps can be used to schedule payments and help avoid the threat of forgetting an obligation. This could save you hundreds per year.
In turn, you will notice a big improvement to your mental wellbeing too. After all, your increased sense of financial control is telling.
8. Change shopping habits
When you go grocery shopping, it is very easy to buy things you don’t need. Aside from bumping up the transaction, there’s a good chance that a lot of the produce will go to waste. Making a list and sticking to it is vital. It is a good idea to review your actual consumption and align your purchases to this.
Of course, another way to avoid the threat is to complete the process online and review before you complete the purchase.
9. Alter recreational habits
After the year we all experienced in 2020, the thought of staying in sound unappealing. In reality, a garden BBQ with friends will be cheaper than hitting the clubs. Given the restrictions that are likely to last, the enjoyment levels are likely to be higher too. It’s a great excuse to have a garden makeover too. Sure, it will cost a little money. Again, though, it’ll save money in the long run while simultaneously boosting the property value.
10. Stay consistent
If you truly wish to save money and build a better future, the key is to stay consistent. Maintain the winning habits, and things will keep getting better.
