Your top money saving tip

[Deleted User]

Always wait for a full load before using the washing machine or dishwasher and dry things outsde if you can or on a 'maiden' indoors rather than use a tumble dryer. Try to fill the oven with lots of dishes when you've got it hot to use for one dish, cook things that reheat well or that are going to be eaten cold and when you've finished cooking put a bowl of water into the still hot oven to use for washing up, Free heat! Take a look in the storecupboard and be imaginitive with what you have rather than going to buy something in or getting a takeaway.Turn off lights when you've finished in a room. Close doors in the winter when it's colder. Instead of turning up the thermostat add an extra layer of clothing or a wrap. If you have a garden try growing your own salads in the summer, saves a fortune and tastes much better. We even make our own cider rather than waste fallen apples. I make all the preserves, chutneys and pickles we eat, we're lucky enough to grow all the fruit and veg for them but they still work out cheaper than shop bought if you have to buy in the fruit and veg. Ignore fashion,in clothing, home and every other aspect of life, make your own style and be an individual rather than going with the 'latest trends'.

enjoyyourshoes

One key thing is to have a crystal clear view of your financial objectives, which I think you have. Get agreement from everyone in the household that this is critical. Get 'em onside.


Check you can overpay on your mortgage and see if there are any limitations, penalties, unexpected consequences. Look at re-mortgage ?


Always consider that you can only spend that individual £1 once. So is it on trivia, frivolities, unnecessary items, waste, etc: or could it be on paying off the mortgage. Every £1 helps as each £1 reduces the capital sum and in addition save on interest charges.


Wasting money is easy as its a £1 at a time and without critical analytical thinking about everything you spend (before you spend it) you will carry on wasting it. Its psychological.


Change in your mind-set in focusing on your critical financial objective.


Its tough as life gets in the way, people get in the way, consumerism and the nagging voice in your head get in the way !


Good luck its tough and needs constant attention and focus

Upsidedown_Bear

Read this thread
https://forums.moneysavingexpert.com/discussion/2426287

ourcornercottage

Thanks so much everyone, very appreciated. Keep them coming!

freyasmum

Think how much things cost over a year. That cup of coffee every day before work may only (!) cost £2. But that's £10 a week or... £480 over the course of the working year. Sobering thought!

Do a financial audit every so often. I've just done this, switching ba k accounts and saving myself: £11.50/month on bank account fees and earning myself at least £50 a year in cashback. Plus, I got £37 for topcashback for opening the account. That's a difference of £224 per annum Do you use your gym membership? There's another £360 ish. Netflix... £84. Amazon prime? There's £75.

That's £743 a year. Plus your coffee money, which makes £1,223. Congratulations, you just gave yourself an extra payday this year!

Also, if you have an M&S close by and can pop in (and trust yourself not to spend on anything else), their reductions can be quite fantastic.

Use money. If I can see money in my purse, I hate spending it. When it's just on a card, well it doesn't seem like money. Choose a budget and stick to it. Don't buy anything, unless you really want it and it will add value to your life.

melanzana

Bring cash only when shopping. And a list, and stick to it.

Think twice, buy once. Makes you think before you buy something you don't really need.

Own brands, Lidl and Aldi.

My rule is one in, one out, so if I treat myself to a pair of nice shoes or sandals, or something else to wear, then something languishing in the wardrobe HAS to go the CS. Not money saving, but saves hoarding!

Best of luck OP, if I think of anything else, I will be back!

Brambleberry

Get your financial goals clear and create a robust zero-based budget. Track all your spending against this carefully to help you live within your means and save/pay down debts effectively.

Fun tip to deal with the "I-wanna's" - take things for a trip in your basket or hand as you browse, then return them to the shelf before you reach the till or leave the store (but for the sake of every shop employee out there, put them back in the right place!).
Digital equivalent - put items in basket/saved for later/wish list/watchlist as appropriate for a couple of days. Enjoy the feeling of surprise when you wonder how they got on there in the first place, hen you can delete them or just enjoy looking at them in your basket...

freyasmum

Run your home like a business (without paying dividends to shareholders...).

https://www.willitmaketheboatgofaster.com

LameWolf

Something Mr LW and I have done for a while now.... Every time we get a £2 coin, we hoik it out of our pocket/purse and put it in a tin. You'd be amazed how they mount up. :money:

We use them to tide us over when there's a tight month, but you could just as easily bank them / make a mortgage/debt overpayment or whatever suits.

We used our £2 coin stash to fund a trip to the theatre on Saturday, and we had a fabulous time without eating into our bank accounts when we have car insurance, mobility buggy insurance and prescription prepayment certificate all to pay for this month.

It works for us!

janb5

I do the same as Lame Wolf but put them in a sealed tin( available £land) That`s because I cant get at them! Money used to give to son for holiday, Christmas etc.