lifestyle changes that can save you money

Whether it is to reduce debt, make our money go further or to save money for our family’s future, there’s no doubt many of us want to find ways to reduce our overheads. The good news is that there are plenty of ways we can save money by making small changes in our day-to-day lives.

Let us know what will make the biggest difference to you to help you save money below:

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We’ve listed 8 lifestyle changes you can make that will help you to save money:

Talk to your partner about your finances

It is important for you to sit down and discuss your family finances with your partner. Reviewing your spending patterns and your financial plan is crucial in order to set your family up  for future financial success. You should look at your family’s income and outgoings and draw up a budget based on this. It is also important to consider savings within your budget, including saving for yourself and for your children too, if you have them.

Related: Discover if you are saving enough for your children’s future

Shop around

One big lifestyle change that you can make to save money is to shop around before making a purchase. We can get comfortable shopping at one particular supermarket, or sticking to a particular insurance company or bank, but with a bit of research you may find that you could get better value for money elsewhere.

You can compare gas and electricity prices on websites such as uSwitch to make sure you’re on the cheapest tariff for what you require. If you decide you’d feel better sticking with the same provider, you could show them any better quotes you found online and they may alter your deal to match it.

Join loyalty programs

You can sign up for loyalty programs which allow you to receive deals and discounts that people who are not on the loyalty scheme aren’t be eligible for. Start by going on the websites of your favourite companies to see if they have any loyalty schemes, but make sure you read the small print before signing up.

Get cashback

Cashbacks websites, such as Quidco or TopCashback, are a great way to earn a little something back when you make a purchase online. Most large retailers and financial companies are now on cashback websites, meaning you could be able to earn money back on things you were going to buy anyway. All you need to do is search for the company you want to make a purchase from on a cashback website and then follow the instructions to make a purchase!

Save on electricity

Even the smallest of changes, such as switching off the lights when you leave a room or switching off your plug sockets at the wall can go a long way to help lower your electricity bill.  These actions take minimal effort and it is likely that you will notice a drop in your electricity bill at the end of the month.

According to the Energy Saving Trust England, an average household could save anything from £45 to £80 a year just by switching off appliances that aren’t in use.  [1]

Turn the heating down

Try turning your thermostat down by 1 °C; it’s doubtful that you will notice the difference in temperature in your home but it’s enough to make a difference to your heating bill.

Prepare your lunches

If you are in the habit of buying your lunch every day, you could save a significant amount of money by preparing your lunch at home the night before. It can take some getting used to, but once it becomes a habit it’ll be much easier.

Rethink your treats

We all need to treat ourselves once in a while but your treats may be costing you too much and could do with being reviewed. Think about your biggest guilty pleasures. Do you spend too much money at coffee shops, or spend a little too much ‘down the pub’? Try to cut those costs by half, or find an alternative for your little luxury.