Money Saving Tricks

Trick Yourself into Making Savings

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Saving is not always easy, but even small amounts soon start to build into something worth having. Most of us live from payday to payday, with very little cash to spare. So how can you save some money, without even noticing it is happening?

Analyse What You Spend

Take a close look at what you spend every month, and see how much of them are unnecessary. This may well show up old subscriptions you no longer use, or money being wasted in other areas. Cancel anything you do not need, and straight away you will have some money to save and be no worse off.

Look at things like book clubs, for instance. Do you really need to pay them a monthly fee when you can get all the books you want for free at a library? Do you have to pay into the club that sends you a record every month? With streaming music online now that should not be needed. These are just a couple of examples, there are many other things you could stop paying for.

Make Saving Automatic

There are several ways you can make your savings automatic so that you do not even think about them:


  • Most salaries are paid into a bank account these days. Ask your employer to pay some of yours into another account. Most companies offer this sort of service to their staff, so take advantage of it.
  • There are apps that will round up any purchases you make, and save the money for you. If you, for instance, spend £1.60 the apps round it up to £2 and puts the 40p into your saving account. It is such small amounts you will not even notice it is happening until you see how much it has mounted up in your savings account.

Automatic saving is a great way to build up a decent sum of money without the hassle of having to physically go and put it into a saving account.

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Compare Rates

Buying a major item is not saving you any money, but finding the best interest rate could save you a lot. If you have to buy something like a new car, take a look at a vehicle finance calculator to find the best deal for you. Do this for everything and you’ll always get the best deal.

Interest rates can vary greatly, but the most expensive way of borrowing money is on credit cards. You could save yourself quite a bit by converting them to a bank loan, which will be at a fixed rate with a predetermined end date. Credit cards can go on for years and cost you a fortune.

Avoid Impulse Buys

Impulse buys tend to be when we buy things we do not really need, so avoid them at all times. Just stand back from the purchase you nearly made for a few minutes and ask yourself if you really need it. Generally, with an impulse buy the answer is no, so save the money instead.

You may be surprised at how quickly your savings will grow, and sometimes it can become an obsession. Don’t let it overtake your life, just be sensible and save what you can afford to.

This is a collaborative post.

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