Most people are preoccupied with trying to make more money to fund their lifestyles or to improve them, but they sometimes overlook the fact that living below their means can be a more effective way of giving you “more” money, than earning more to compensate for higher expenses. Reducing your expenses can be difficult, especially if you have become accustomed to a certain lifestyle, but ask yourself this, do you need a car when you can commute to work? Do you need three streaming subscriptions when you barely have enough time to watch one? Is it that much effort to prepare your meals a few days ahead instead of eating out every day for lunch and dinner? Below we shall look at a few effortless ways to save yourself some money.
Sign up for a rewards credit card
If you currently have a credit card, consider transferring your balance over to another bank that gives you better interest rates and provides rewards when you use it for purchases. Credit cards are a great tool if you have the right discipline and pay it off fully every month. If you sign up for a card that offers rewards and cashback on purchases such as your weekly groceries from Tesco or cosmetics from Revitalash, then with absolutely no effort at all you will be rewarded for what you would be doing anyway. Earning a few percent cash back on every transaction can add up in the long term and could eventually pay for a whole purchase.
Use comparison websites to find the best deals or renegotiate contracts
Whether it be your mobile phone contract, internet provider, savings accounts or gym memberships, comparison websites can be your best friend when looking for the best deals. If you don’t use as much of your phone allowance or don’t make it to the gym as often as you need to to make the most out of the subscription, get on a comparison website to find a deal that is more suited to you. In many cases, you may even be able to find terms similar to what you currently have, at a cheaper price. Providers often give better deals to new customers, but giving them a quick call and telling them you are considering leaving is often enough for them to offer you a better deal.
Buy unbranded or store-branded products
Did you know that often manufacturers of well-known household products such as bathroom cleaners and biscuits, also make the same products for stores to sell under their own brand? Can you taste the difference between branded custard creams and the store-branded ones? Is there a difference in the cleaning effectiveness of the most advertised furniture polish compared to the supermarket brand? Often, the results are negligible but the price difference is huge. By switching half your weekly shopping basket to store-branded products from the household names you could save yourself a pretty penny and not even notice the difference. Trust us, try it!