Shop More, Spend Less – Money Saving Tips

Pssst! Do you like shopping? Of course you do, otherwise you wouldn’t be reading this, right?

But do you like spending money? If I offered you the same item for £50 rather than £60, which would you choose? Whenever I do this, nobody ever chooses the £60 item…  If you did, please get in touch – I’ve got some GREAT offers for you! If not, I’m sure you’re interested in SAVING rather than SPENDING money.

In 2017 UK retail sales totalled £366 billion. The average British family spends around £530 per week, meaning a 5% saving frees up £26.50 a week, or around £1300 a year. That’s enough for a holiday! 

Taking Stock

Firstly, focus on your regular expenses. This includes the weekly shop, bills, car insurance and anything else that is paid weekly or monthly. Get a list of these regular costs together and figure out exactly what you’re spending on. Got a subscription to TV channels you barely watch, or to a gym you hardly use? Cut them immediately.

Part of this is up to your personal interpretation. If you only use the gym once in a while but really value it, then go ahead and keep it. Seeing the numbers will show you what you’re paying for it, and it isn’t hard to figure out a per-use value. If this number is worth it for you, that’s cool.

Trimming & Switching

Now we’re on to the age-old tip of going for more basic brands and cutting back on the luxuries. That’s just not fun though, is it? So instead of doing it with everything, focus on the items where the pricier bands don’t matter to you. Personally, I don’t care what brand most of my snacks are, but I do love Cadbury’s chocolate, and I’m not compromising on that.

Then there’s expenses like car insurance or subscriptions which you actually kept. With a lot of companies, especially insurance type businesses, you can get a great deal just by haggling. Don’t ever accept an auto-renewal, or anything else without shopping around and comparing alternatives. Insurance companies are out to make a profit.

Comparisons

Like insurance, you should compare prices when you see an item too. It’s so easy to find something in a store and impulse-buy it– you might find that item at half price online though! 

Another great idea is to check reviews first so you aren’t left disappointed with your purchase. Beware of the way an item is marketed too – sometimes a special offer or sale item has been increased in price before being reduced by the offer, so you’re still paying the same amount anyway.

Cards

Not birthday cards or playing cards – I’m talking store and credit card rewards. Earning loyalty points is like free money for buying something you would have spent money on anyway. Using credit cards can increase this payoff thanks to extra discount offers and cashback deals. Then there are air miles, shop discounts and so much more...

With a smart combination of discounts, the right product choice, loyalty points AND cashback, you can end up with enormous savings – certainly enough to go ahead and either save up or shop some more. The choice is yours!