Taking control of your finances doesn’t have to be overwhelming. By dedicating just a little time each week to managing your money, you can save hundreds of pounds over the year. Whether it’s for your next summer holiday, Christmas fund, or emergency savings, the effort is worth it.
Start by tracking your expenses using a simple paper budget book or a notes/spreadsheet app on your phone. Making a habit of recording your spending will increase your awareness and help you identify areas where you can cut back. Consider using a banking budgeting app for automated analysis, but remember that manual tracking can be more effective in controlling your expenses.
Time commitment: 5 minutes
For online purchases, don’t forget to use cashback websites like TopCashback, Quidco, or Swagbucks to earn money back on your spending. Utilizing cashback sites for routine purchases such as broadband, mobile phones, and insurance can quickly accumulate savings.
Time commitment: 10 minutes
Search for discount codes before making any online purchases to maximize your savings. Setting up a separate email for deal notifications and signing up for discount websites like Groupon and Wowcher can help you stay informed without overspending.
Time commitment: 3 minutes
Implement a “round-up” savings strategy by saving the difference from discounts into your emergency fund. Additionally, consider setting up a regular savings habit by transferring a portion of your income into savings accounts each month.
Time commitment: 8 minutes
Regularly review and compare your insurance policies, mobile phone contracts, and subscriptions to ensure you’re getting the best deals. Stay vigilant by monitoring your financial accounts, credit card statements, and investment portfolios for any discrepancies or opportunities to save.
Time commitment: 12 minutes
By dedicating just 58 minutes per week to these financial tasks, you can take charge of your finances, increase your savings, and secure a better financial future.
