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Making tiny changes in different areas of your life soon add up. Here are five simple ways to spend less and save more.
1. Drop the coffee shop habit
Handing over £2.50 for a cappuccino every weekday could add up to a staggering £650 a year. Try to make shop-bought coffees a weekly, rather than daily, treat. Even better, rustle up your own at home or at work.
2. Shop for deals online
Routinely shopping from sites like eBay instead of on the high street – especially if you buy second-hand goods – can save a small fortune. Plus, for every £1 you spend on eBay, you get one Nectar point. Do your research on what the likely retail price would be and remember to set yourself a bid limit – it’s easy to get carried away as an online auction draws to a close.
3. Avoid food waste
You can avoid spending money on food you may later throw away, if you make meals out of what you have in the kitchen already, or if you plan your meals ahead and shop from a list. Visit Live Well for Less for dozens of recipes you can make with a small number of straightforward ingredients.
4. Sell your unwanted stuff
Sites like Zapper, eBay and Gumtree, as well as hundreds of Facebook groups, let you sell everything from books and DVDs to clothes and toys for cash. It’s important to describe what you’re selling correctly and to provide accurate measurements – if you’re unsure, look at how similar items have been described and measured, and follow the same format. Be realistic about how much you’re likely to sell your item for and if you’re selling more valuable pieces by auction, set a reserve price to avoid disappointment. If you want to avoid the business of packing and posting, pay for a pitch at a traditional car boot sale – search for local sales at Car Boot Junction. Avoid the temptation to shop while you’re at the sale, though!
5. Make your money go further
A few hours of research could save you hundreds of pounds. Make sure you’re getting the best deals on everything from energy to your phone tariff, as well as your bank accounts, with our tips on how to refresh your finances. Switching your outstanding loans could save you money, too, by giving you a better interest rate or a shorter period in which to pay back your loan. Our guide will help you through the process.
This Money Matters post aims to be informative and engaging. Though it may include tips and information, it does not constitute advice and should not be used as a basis for any financial decisions. Sainsbury's Bank accepts no responsibility for the opinions and views of external contributors and the content of external websites included within this post. Some links may take you to another Sainsbury's Bank page. All information in this post was correct at date of publication.