The New Year is upon us and, unfortunately, the cost of living crisis looks like it’s going to continue well into 2023. We wanted to start the New Year off with some tips for all of our users on how they can try and save some money during these difficult times. Here are our top pieces of advice:
Check Your Subscriptions
Something that is a very hot topic for personal finances now is apps that will identify all of your subscriptions and allow you to cancel them. When times were easier, having Dinsey+, Netflix, Amazon Prime and an assortment of other subscriptions seemed ok, but now that money is tight, you should take note of what you are actually using and be prepared to cut the cord on those subscriptions you barely use. You don’t need an app to do this, just take a look through your bank statements for recurring payments.
We tend to be loyal to supermarkets, and this is often due to either locality or reward schemes. We absolutely recommend using a rewards card wherever you do your food shopping, but you should shop around to see how much cheaper your average shop could be from another supermarket. The difference between M&S and Waitrose pricing compared to Aldi or Lidl could save you a significant amount over time, so it is worth seeing if you have a cheaper option close to you.
Following on from where you shop, is how you cook! Batch cooking can save you a lot of money (and reduce food waste) if you live alone or with a partner. By doubling the amounts of the recipe of, say, a bolognese, you can have food for 4 meals instead of two, and by freezing it, you don’t have to always eat the same food two days in a row!
We’ve written about this before here, but as the price of energy is one of the biggest drivers of this cost of living crisis, it is important that you stay on top of your usage. Some quick tips to list are:
- Turn off unused appliances (including standby)
- Cut down on water waste (shorter showers, no baths)
- Draught proofing (cheap kits to tackle doors and windows)
Sell Unwanted Items – Use Shiply
Rather than saving money, how about making some? Extra income at the moment is very useful, and we all have stuff lying around that we don’t need anymore. A wise man once said that one person’s trash is another person’s treasure, so rather than throwing these items out, why not try and sell them online? There are plenty of sites to sell on, with even more niches for furniture, clothing, electronics, and antiques. Even small amounts of money for these items will leave you better off than throwing them out, and it only takes a little effort to post them. Plus, if the item is too big to ship, you can always use Shiply to get great rates for your buyer to have the item delivered!
We hope these tips help you this year!