Saving money during financial crisis sounds like it may be impossible, but I don’t mean saving in the sense where you expect to have a huge sum hanging out in your savings account at the end of the year, I want to highlight some ways and areas where you can spend less and save money to use use on other things that are costing a lot more recently like your bills. If you are lucky you can definitely use these tips to add to your savings.

The best way to save money will look different to everyone. When it’s something that will have an effect on your every day life you have to do what works best for you, there is definitely no one size fits all when it comes to making financial decisions for you and your family. For this reason I’m out-ling a few different ways you can save money so you can go through them and pick and choose what may work for you and ignore the rest.

Now that the new year has begun, it’s a perfect time to take a step back and take a look at your finances. It’s never too late to start making a budget and taking control of your financial future. Creating a practical budget and sticking to it is an important part of financial success. When done correctly, budgeting can help you save money, pay off debt, and create a solid financial foundation.

General saving

In general there are ways we always hear about that help you to evaluate you situation and save money, like creating a practical budget and how to stick to it throughout the year, tracking your spending, setting goals and maintaining financial discipline, cutting back on certain luxuries etc and we all know this already, There are however a few smaller things you can do that will have a huge impact over time and won’t feel like you’re having to change your whole life.

Unnecessary outgoings

It’s crazy how many regular outgoing payments we have that roll on each month that we forget about and sometimes for services we are no longer utilising. Check your statements for all outgoing expenses that you don’t need anymore, you may have subscriptions to multiple media services that can get rid of, do you use Netflix, Hulu, Prime video and ITV Hub without ads? have you been using them all? if not, let some go.

Did you sign up for kindle unlimited but you’re not reading enough of the “free” books to make the subscription worth while? let it go! all of these small payments are not so small when you add them up and a lot of them are only still there because you forgot to cancel. You will save a lot by only paying for the services you actually use regularly.

Look at you debts and bills

It’s always a good idea to review your debts, check to see if there are any ways to reduce the amount you are paying out. In some cases you will be able to reduce the amount of interest you are paying on loans or a mortgage so it’s definitely worth checking that out. Also having a look at your utility bills can’t hurt especially if you are open to switching providers if the deal is right.

Replace don’t remove.

I think a big mistake people make when they need to cut costs and save money is that they give up all of life’s luxuries. It’s a sure way to save money but it’s also a sure way to make yourself miserable. Instead of getting rid of date night try doing something that costs a little less, if you love dinner and drinks once a month keep it! try a different restaurant or even alternate each month where you do the thing you love and the next month so something just as fun and intimate but doesn’t cost as much as that dinner and drinks would.

If you enjoy going to the theatre you can catch some fantastic amateur productions for a fraction of the cost and have an amazing evening out doing what you enjoy. When it comes to skincare, you can save money by using refillable skincare. You’ll be helping the planet and getting your favourite products cheaper. Switch to a cheaper brand when doing your grocery shop, you don’t have to eliminate the thing you enjoy to save money, there are always alternative options that will save you a few pennies.

People tend to think about saving money as cutting back and enjoying things less and it definitely doesn’t have to be that way.