Our Top Tips for Saving Money

It’s safe to say that saving money can be difficult, regardless of how much you earn and how much you need to save. You probably have a set income and when you take away the monthly cost of living, there isn’t always a lot left to work with. Luckily, there are some things that you can do to make saving money that little bit easier.

Quick and Easy Money Saving Tips

It’s always a good idea to have some money saved, as you don’t know when you will suddenly be faced with an unexpected expense. For example, your car could break down or your boiler could break. With some money saved up, stresses like this are much easier to manage. Here are some of our top tips for saving money:

• Track All of Your Expenses – In order to save money, you need to have a good idea of how much you spend and what you are spending it on. To do this, you will need to keep track of all of your expenses. This includes everything from the weekly shop and the odd coffee, to clothes and nights out with friends. You should also factor in bank charges, bills, car costs and rent. Note down everything that goes out of your bank account.

• Make a Budget Plan – Once you know how much you spend each month, you can make a detailed budget plan. This will help you to keep your spending under control. Your budget plan should showcase what you’re spending in relation to your income, so that you can see how much you are realistically able to save going forward.

• Cut Down on Unnecessary Purchases – One of the easiest ways to save money is to cut down on unnecessary purchases. Instead of eating out, stock up on groceries and cook at home. Instead of buying a coffee at work, bring in supplies from home. Instead of ordering cabs, look into public transport. Though these may seem like small expenses initially, they do all add up. Cutting down on unnecessary purchases can make a huge difference.

• Set a Goal and Have Something to Save For – It’s a lot easier to save when you have something to save for, as it gives you a goal and an aim. It’s a great motivation. This could be a holiday, a new car, enough to redecorate the kitchen or a specific amount of money for a rainy day. Know what you’re saving for and keep reminding yourself of that.

At Cockle Finance, we know that saving money isn’t easy. Not only is it hard to save money in the first place, but saving money doesn’t always happen as quickly as you need it to. This is why we’re happy to help. To find out more about Cockle Finance and our personal loans, get in touch.