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15 Ways to Save Money Today

15 Ways to Save Money Today

This post may contain affiliate links, which means if you click through to a website from a link found here on my blog and register or purchase something, I may get a commission at no extra cost to you. 

On the path to financial freedom, I’ve been looking into two crucial areas: how I can make more money, and how I can save more money.

I’m a big advocate for a side hustle or two in order to make more money, and believe there’s a side hustle for everyone – so much so, I’ve even put together a free eBook on ’50 Side Hustles You Can Start Today’, which you can download at the bottom of this post.

But what about saving money? This can almost feel more challenging than making more money – especially if you’ve already cut out any extras in your budget.

Well, I certainly don’t believe in cutting back completely on things that truly bring you joy in order to one day be financially free – but I am definitely here to encourage you to cut back on areas that maybe aren’t quite so important, so you can save more, invest more, or allocate that spare cash to something you really, really want.

So, how can you save more money today?

Review your food shopping habits

Let’s start with an easy one – review your food shopping habits, and analyse where you can save money. It really could be as simple as switching supermarkets, meal-prepping, or batch-cooking, but could make a huge difference to your monthly food bill.

By switching from shopping at our local Sainsbury’s, to driving 20 minutes to our nearest Aldi, we’ve managed to lower our shopping bill from £400 per month for a two-person household (!!!) to £170 per month. Likewise, we’ve also cut down on takeaways, and spend a bit more on quality ingredients to have a weekly fakeaway or two.

Cut down on your TV package

Of course, only if it’s not one of those things that bring you true joy. We rarely ever watch live TV, and instead use catch-up services, Netflix, Amazon Prime, NowTV and HayU (got to get my Real Housewives fix, amiright?) so it’s about time we give BT a call and look to cut back on our main package. Listing it all down, it’s an astronomical amount of streaming services, and we only use BT for BT Sports, so something’s got to give…it might as well be the most expensive one!

Haggle on your other bills

This is especially effective if you’re nearing the end of your contract and can threaten to leave if they don’t give you a better offer. Write down all the bills you pay – a simple call or message via their instant chat facility can leave you better off. It’s worth a go!

Open a Rewards Current Account

This will vary from bank to bank so you’ll need to do some research here, but the basic concept of a Rewards Current Account is you get a bonus for banking with them (but it’s usually subject to a small fee).

Personally, I pay £2 a month to Natwest for a Rewards Current Account, but then get cashback on all the bills I pay, which comes to approximately £8 each month. I then save this cashback up each year, and use it to pay for a hotel stay in December to reward ourselves for getting Christmas organised in advance.

Open a Trading212 account and invest £5 right now

It’s a common misconception that you need to have a lot of money before you can start investing in the stock market, when actually, even a fiver will do! I currently have a Stocks & Shares ISA, but also put the odd bit of change into my Trading212 account – bits I can afford to lose as I learn the system.

If you’re interested in trying it all out, sign up to Trading212 via this link and we’ll both receive a free stock share!

Side note: Please always make sure to do your due diligence and study this further as there is always a risk when investing (YouTube is a great place to start!)

Shop second-hand

Aside from the obvious environmental benefits, heading to your nearest charity shop when there’s a particular book you’re looking for, or a new piece of clothing (or even just fancy satisfying your browsing cravings!) could save you an absolute fortune.

Some of my favourite (most compliment-receiving) clothes are from charity shops, and when I recently changed jobs, I treated myself to a new work wardrobe totalling a grand old price of £40! We’re talking new blouses, two new skirts, a dress, a cardigan, a jumper and some summery trousers, from the likes of Zara, M&S and Monsoon. For. Forty. Pounds.

Bargain.

But don’t forget, it’s not only charity shops that can sort you out – if you’ve got your eye on something in particular, check out the likes of eBay and Depop, or if you need a larger item, have a look at Facebook Marketplace. Trust me, once you’ve got a few great bargains under your belt, you’ll be a fully-fledged convert.

Host at yours

If you’re anything like me, you’re well overdue a few catch-ups with friends and will typically do so over a nice meal and a couple of cocktails. Why not text your friends now and arrange something at your house instead? Ask them each to bring a course (or alcohol) so you’re all sharing the costs, and save the difference on what you’d usually spend on a night out.

Better yet, go old-school and have a sleepover. I’m talking 90s movie classics, popcorn, drinking games, takeaways – the full works. Surely that’s more fun than queuing to get into some club night and spending a small fortune on watered down drinks anyway?

Be honest – let friends and family know of your goals

Your friends and family should be supportive of your lifestyle change, and will most likely be only too happy to make amendments to how you usually socialise.

A friend and I love nothing more than cooking up enchiladas and binge-watching Catfish over various Lonely Planet books as we plan our next adventures as a way of catching up. We’d much rather save money on going to restaurants throughout the year, and instead spend it on a holiday or two each year together.

That’s my kind of friendship!

Cancel that gym membership

My boyfriend is a gym manager so I might get in trouble for this one, but do you remember in lockdown how we all soldiered on without the gym? If funds are tight right now, and you don’t feel you need to work out at the gym (and can instead get your fix at home/in the outdoors), cancel it for a few months. There are plenty of workouts that can be done solely using your own bodyweight, or a fitness band off Amazon – and get a friend involved if you think motivation might be lacking. Accountability is often key here!

YouTube also has a great variety of fitness videos so you have plenty of workouts at the click of a button. Personally I love Cat Meffan and Alice Liveing, but there are a whole host available for you to try out to see what works best for you.

Need to buy something? Add it to your shopping cart online, and then leave the webpage

More often than not, within 48 hours a discount code should be making its way to your inbox (make sure you’re logged in to your account when you do so, and check your spam mailbox in your emails – I find that’s where mine typically go). Sometimes, just simply waiting to make a purchase can also save you money, as you might realise you no longer want the product anymore anyway.

ALWAYS go through cashback sites before you make an online purchase

I’ve made over £120 with TopCashback in less than a year, purely through getting some money back on purchases I was already going to make. If you’re shopping online, always go via TopCashback or Quidco and see what you can make this year.

If you’d like to sign up to TopCashback, go through this link and receive a £5 sign-up bonus! (Disclaimer: I’ll receive a referral commission if you do so).

Register with your local library

I know, I know – you aren’t convinced libraries are for you. But did you know most libraries now include audiobooks, magazines and some even offer streaming services for films?

Google your nearest library, and sign-up – it might not be something you use frequently, but it’s free, it’s convenient, and the services are ever-increasing, so you might as well get a membership sorted.

Unfollow any triggering social media accounts

Mute those you love and would still like to visit when you’re feeling strong or have a spare bit of spending money, and unfollow any that encourage you to spend recklessly. The Money Fox brought to light how many fast fashion brands encourage getting into debt through buying their clothes and keeping up to date with the latest trends as though it’s something to be proud of.

Your clothes might look great, but it’s not sexy to be in debt. Avoid temptation, and mute those accounts!

Wash your clothes at 30degrees where possible, and air dry if you can

According to The Energy Saving Trust, washing your clothes on a 30 degree spin instead of higher temperatures will save over 40% of the energy you use across the year.

Plus, the 30 degree cycles are often quicker, so you can get more done, more quickly. Win-win!

Double up

There are a fair few perks you can access from companies if there are a couple of you in the same household using their services. From car insurance and breakdown cover, to mobile phone packages, to our most recent move to Spotify Premium Duo (where we’ve gone from paying £9.99 each per month, to £12.99 combined), it’s well worth enquiring with companies if several of you use it to save more money between you.

Go through your outgoings with a fine-toothed comb

Set aside half an hour and write out every purchase you’ve made in the last couple of months. Become aware of what is, in all honesty, unnecessary spending, and what you can’t do without. Obviously bills are here to stay (unfortunately), and where possible you need to be allocating an affordable amount to your Emergency/Sinking Fund each month, but what else can you cut out? Are you like me and have a ridiculous amount of streaming services (BRB, off to cull one myself!), could you sign up to Spotify’s Duo account, and do you really need that monthly subscription box?

Be honest with yourself, and ask yourself (in true Marie Kondo style) – does this spending bring me joy, or is it out of habit? If it’s out of habit, it’s time to break it.

Hopefully these 15 Ways to Save Money Today can get you well on your way to your financial goals in no time. For me, budgeting and achieving financial freedom is all about those small lifestyle changes, rather than any big drastic moves – I still want to enjoy life without depriving myself, and instead would rather be selective about what I sacrifice.

But what about making more money? Well, you might like the following posts:

Find out how I make an extra £6000 each year (tax free!) here

Click here for ideas on how you can make an extra £500 before Christmas

This post breaks down lots of money making ideas for students – without having to take a ‘traditional’ student job (and many are applicable to all of us!)

Alternatively, my free eBook featuring 50 Side Hustles to Start Today might just be what you’re looking for:

42 Comments

  • Laura November 16, 2020 at 12:31 am

    I put some money into a savings account each month as soon as I get paid so I’m not tempted to spend it

  • ashleigh allan November 16, 2020 at 8:51 am

    Lots of great tips!

  • Wayne Lee November 16, 2020 at 9:18 am

    Avoid waisting food and utilise the freezer as much as possible in order to save on money. Wear more clothes as working from home, instead of turning on radiator. Stay safe all.

  • Linda Jones November 16, 2020 at 2:35 pm

    Don’t go shopping just for something to do

  • Charlotte isobelle November 16, 2020 at 3:59 pm

    Every pay day I put a bit of money away into my saving account, it does add up after a while.

  • Annabel Greaves November 16, 2020 at 5:26 pm

    I use voucher codes and discount sites

  • Ellen Stafford November 16, 2020 at 6:20 pm

    I collect all my change in a pot. Got quite a bit in there now!

  • Helen Arlow November 16, 2020 at 7:42 pm

    Some fantastic tips, Thank you! I always try to shop around for good deals. I’ll definitely be trying your idea of adding items I need to my online cart and hoping for a discount code x

  • Sandra Bald November 16, 2020 at 8:59 pm

    I put a bit of money away each month.
    I use top cash back & comparison sites for insurance, phone
    I buy most clothing from my local charity shop.
    I do a weekly meal plan & write out a weekly shopping list.

  • Susie Wilkinson November 16, 2020 at 9:04 pm

    I put half of my monthly income into savings every month, then it’s not in my current account as a temptation, but accessible if needed

  • Sheena Batey November 17, 2020 at 11:04 am

    Look for bargains and only spend when necessary

  • Tara @ Mama's Money Diary November 17, 2020 at 12:55 pm

    I do most of these and have been nagging my Dad to reduce his tv package for the longest time as he doesn’t watch half of what he’s paying for! These are great tips. I also shared 26 ways to save money on a tight budget which you might find helpful!

  • Jessica Jacob November 17, 2020 at 8:50 pm

    I’m terrible with my money, I try so hard to get my head around mortgages and interest rates. But in my professional life, I can juggle multi million dollar projects!! Crazy.

  • Lydia Joy November 17, 2020 at 9:05 pm

    The best way to save money for me in to win things!

  • Nolene O'neill November 17, 2020 at 10:27 pm

    Im a hoarder in every sense of the word including money, i’d rather keep my saving’s stashed at home

  • Julia Linsley November 18, 2020 at 8:44 am

    I try to use everything and have no food waste – I challenge myself to have complete No Spend days – I shop in Charity shops and upcycle furniture and re-sell stuff we don’t need or want and we grow some fruit and veg ourselves

  • Emma Walton November 18, 2020 at 11:06 am

    I’m always careful with my shopping and I also empty my purse on a regular basis and save all my shrapnel.

  • Stephanie Keill November 18, 2020 at 1:54 pm

    Favorite way to save money, not leave the house !

  • Pete November 18, 2020 at 4:09 pm

    I like saving money by shopping around for the best deal insurance etc

    • stephpunfield@gmail.com November 20, 2020 at 11:17 am

      It’s so satisfying being able to find a deal through shopping around, and is well worth taking that little extra time to hunt!

  • Maddy November 18, 2020 at 4:32 pm

    My favourite way to save money also ties in with trends for reusing and consciously thinking of over-production and consumerism. Simply put, I love buying from charity shops. My outfits are often admired, but they’re usually something from the Age Concern shop combined with Primark and accessorised with something from the car-boot sale or repurposed from something else

    • stephpunfield@gmail.com November 20, 2020 at 11:14 am

      I totally agree with you – you can’t beat picking up a good bargain from a charity shop (especially when people ask where you got your outfit from!)

  • Phil B November 20, 2020 at 11:21 am

    Sometimes the best way to save money is to spend money, I live in rented accommodation and the landlord isnt interested in energy efficiency. I’ve bought my own door perimeter seal and window seals, and a cheap wireless thermostat for the heating, it was on a timer with no thermostatic control before. I recon I will make my money back over a single winter as it was so draughty before. My only worry is if the letting agent keeps my deposit because of the improvements I have made!

  • Maya Russell November 21, 2020 at 7:26 am

    Cutting down on spending is the best way to save money. We’ve cut down dramatically on buying newspapers, don’t go out spending on coffees/snacks anymore and really has helped.

  • Margaret Gallagher November 21, 2020 at 6:11 pm

    Ditch the takeaways – coffee sandwiches water ! Over the month i save a packet!

  • Pippa Ainsworth November 21, 2020 at 7:02 pm

    My favourite way to save money is looking for discount codes against online purchases, I love it when they work!

  • YOLANDA DAVIS November 23, 2020 at 5:06 pm

    I do all sorts to earn and save money. Cashback sites, comparison sites, surveys, and I’m just trying out matched betting.

  • BERNIE EGERTON November 24, 2020 at 10:31 am

    Since my teens I’ve had a direct debit set up to put money in my savings account

  • Sophie Ramsay November 25, 2020 at 11:27 am

    I have just downloaded your eBook to start hustling but so far I have been selling on eBay/depop as well as buying second hand from them where possible – I got a HUGE bundle of Peppa Pig figures for my daughter on eBay yesterday for £15 inc postage. I will keep them until we need them, splitting some up for her stocking/rainy days etc as if we pick things up as and when it is ££££. Than goodness she isnt at the magazine stage yet!

  • Nigel Soper November 25, 2020 at 10:30 pm

    Repair rather than replace; many devices can be repaired at a fraction of the cost of replacing them.

  • Louise craney November 27, 2020 at 9:33 am

    I save with the bank

  • Maria November 30, 2020 at 1:33 am

    Banking and couponing

  • Rebecca Walker November 30, 2020 at 3:03 pm

    good old fashioned money bank

  • Mandy Doherty December 7, 2020 at 9:19 pm

    I save my small change and also shop in the early evening when the reduced food has been knocked right down

  • adrian price December 8, 2020 at 9:11 pm

    I`ve always found the best way of saving money–is to spend someone elses

  • Heather Haigh December 8, 2020 at 10:12 pm

    I like shopping for bargains and upcycling to save money

  • James Travis December 9, 2020 at 2:32 pm

    Shopping around, and finding the best possible price on things. Always surprising how much you can save when doing that.

  • Tracey Hallmark December 12, 2020 at 1:22 am

    My favourite way has to be shopping in the supermarket reduced sections we get fresh meat to freeze at sometimes 75% off it reduces our shopping bill considerably and we get to eat amazing quality food

  • Amanda Botterill December 12, 2020 at 12:21 pm

    I always hunt out the cheapest price before I buy something

  • Katherine S December 13, 2020 at 8:37 am

    I do lots of little things to help with saving, i.e. save my change at the end of the week, always try to buy presents in the sale, shop with cash as it really makes me think about the transaction. But my favourite is every time I receive a £5 note, I will save these and put these towards whatever I’m saving for at the time.

  • Debra Walker December 13, 2020 at 10:06 am

    Checking prices online before buying

  • Shahzad Khan December 13, 2020 at 5:12 pm

    We got rid of sky and now use Now TV as it works out to be cheaper for us

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    Steph at Funding Her Freedom

    Steph

    Funding Her Freedom shows you how to make more money, save more money, and become financially free. If you'd like to get in touch, shoot me an email on steph@fundingherfreedom.com. Looking forward to connecting! Read More

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