One of our New Years Resolutions is to spend less and save more. Usually, to save more, you have to cut down in every area. The year, however, we want you to really rethink the value of things we're spending money on, to make it easier to cut back in other areas, that aren't as valuable. We've gathered seven tips on how to make cutting back a lot easier and we promise, it'll make you much more happy, when you've got more money to spend on things that are really great!
1. Pocket Money - now this may sound like you're back in high school, living under your parent's roof but it's a great way to set yourself a budget. Think about how much money you really need for essentials: food, travel, bills, etc and stick to the same amount every month. Putting a set amount in a a separate account every month because once the money is gone, it's gone and you really can't spend any more.
2. Keep a spending record - try this for a month and see what unnecessary things you can cut down on. Went out for dinner a few too many times? Bought that top that's just sitting in your wardrobe, waiting to be worn? Limit yourself the next month. Think to yourself 'do I really need this'? With everything you buy.
3. Make a meal plan - Cook dinner at home, it'll cost you half as much. Making meal plans really help you know what money you're spending on food and will make you eat out less because you've already got a perfectly good meal at home. Take a list when you go grocery shopping and stick to the list. You'll be surprised how much money you've spent on things that just 'happened' to fall into your grocery basket.
4. Reuse, Recycle - try to use things you already have as much as possible. This applies especially to clothes. Wear what you already own, instead of swinging by the shops every day after work. A great way to manage this is tying a ribbon on your clothes rail and putting the clothes you've worn on one side. Within a couple months, you will see how many clothes you own, that you never actually wear. Also try to use Tupperware containers for lunches, instead of plastic bags or a tote bag for your groceries.
5. Use the library - for bookworms, like ourselves, the library is a great place to be this year. As much as you may enjoy the feel of a new book in your hands, actually reading the book is much more valuable. So give your library a go this year, you can find great books to read and it'll save you a ton of money.
6. Be a tourist in your own city - instead of heading to a different city ever other weekend, have a look around you. You probably already live somewhere pretty great. Walking is such an easy and cheap way to discover your city. You could also take your exercise from the gym to outside. The fresh air will do you good, you'll see more of the nature around you and - best of all - you will save a huge amount of money, which you can put towards a great city trip.
7. Piggy-Bank - if you have something in particular that you want to save for, start a piggy bank. If you need a new phone, put at least a fiver (depending on your budget) in your new bank every week and do not touch that money! You'll be surprised how quickly you'll be walking around with the latest gadget. Try the same with holidays, open a separate savings account, in which you'll put money every month towards that trip you really want to take this year. As a reminder, put a picture of that place above your desk. It'll keep you motivated not to spend that money on that new handbag, that you didn't really need anyway!
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