Having enough to live day to day is important, but going further and planning for the future is vital. If you’re beginning to look further than the next pay cheque, then you’re going to need to know ways to save money.

This year has shown that, unfortunately, anything is possible. You can feel secure in a role, relying on each payday to come around, to only then be hit by the most unpredictable of circumstances.

The rug can come out from beneath our feet at any time. Yes, enjoy your hard-earned wages. But make sure you put some aside, for the rainy days (or in the case of 2020, rainy years).

If you don’t need to call on that financial safety net, you’ve then got a solid savings pot for whatever you wish to do. Travel the world, buy a house, or invest. Whatever you choose to do by saving, ‘present you’ is leaving a sizable present for ‘future you’.

So if you’re looking for simple ways to save money, then here are our top 10 tips that anyone can do.


Know your expenses

A person sat on the bed with a cup of coffee, whilst writing into a gratitude journal as one of their morning habits.
Photo by Ava Sol on Unsplash

Knowing your expenses is the very first step in being financially savvy.

Rent. Insurance. Phone. Council tax. Bills. How much each month do you have going out each month? If you don’t even know the exact amount, how do you plan to work out how much to put aside? It also allows you to start using the slew of money comparison sites to find some great deals, to begin negotiating down some of those higher demand costs.

Knowing your expenses is one of those ways to save money. It may not seem a direct “in the bank” technique, but it can free up more funds from elsewhere.



Based on the above and knowing your expenses, budgeting allows you to put the breaks on.

If you’re getting, for example, £1100 coming in this month, and you’ve got bills of £600, you’ve got £500 to play with. In a four week month, you’ve got £100 a week to spend and then an extra £100 for savings. So, going out on a mad night out and spending £150 isn’t just annoying, but irresponsible. That’s your savings gone. If you haven’t got the willpower to say no, then put the power in the hands of your budget.

Let your budget be your seatbelt in preventing a financial accident.


Have a side account that you deposit into

A woman on her phone.
Photo by Andrew Leu on Unsplash

You need to have something set up that allows you to pay into.

You’ve got to move it out of your line of sight, and in this case, out of spending reach. Whether a simple saver account or an ISA where you can rack up interest, moving it from your primary account takes away the urge to spend what’s there.

Out of sight, out of mind.


Round up saving

Some banks and apps now allow you to round up purchases and put the extra into savings.

So a 60p purchase becomes a £1 one, and that 40p round up goes into a savings account. Considering you’re likely to make, at least, a purchase a day, small increments add up into a nice cash pot.

Small and steady saving wins the race.


Have no spend days

A woman staring out of a window.
Photo by Joshua Rawson-Harris on Unsplash.

If you’ve budgeted, you’ll work out you have ‘x’ per week, and so, a certain amount per day.

It doesn’t take a maths genius to work out that if you don’t spend on a day, the average goes up for the other days. Instead of that, put that day’s budget into your savings, and you’ll start treating it like a game, trying to see if you can get away without spending.

You’ll become smarter with your money, and your savings will thank you as a result.


Avoiding debt to spend

It says it all.

Don’t use a charged overdraft, or a credit card, if you can get away without. Interest and charges rack up, which may seem small to begin with, but if you think it’s small, why aren’t you saving that instead?

Put your money into your account, instead of the credit card company’s account.


Downgrade services

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Photo by Walling on Unsplash

With the rise of the subscription economy, it’s easy to sign up for multiple paid accounts.

They may be a fiver a month, but ten of them are £50 of outgoings, £600 a year on random accounts. Do you need them, whilst you’re struggling to save? Can you take your subscription down to a free version, even for a few months?

By doing so, you stop putting money in corporations and accounts, and into your own.


Be clever with purchases (off-peak)

Off-peak everything.

Transport. Cinema. Hospitality. You can still have a good time on a budget, and it tends to feel better when you get a good deal. By doing so, you can ensure that you’re sticking to your saving promises, whilst still having a good time. You could even take it a step further and put the money you save on a deal into your account.

Be smart with how you buy, so you’ve got more money to save.


Cut back on eating/drinking out

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Photo by Maria Lin Kim on Unsplash

4 takeaways week doesn’t make sense, and neither does two £100 nights out a week.

As stated above, be clever on your purchases. I understand you may want to enjoy a meal on a Friday night when work is done, but if there’s a good deal on a Monday, go for that instead. Limit nights out to once a week, if you tend to enjoy three, and pre-drink (sensibly) more instead of £50 rounds.

You can’t moan you’ve got no money if you drink your savings away.


Side hustle

Get moving outside of your 9-5.

Try to do something you love, but at the end of the day, make sure it’s profitable. That could be buying at car boots and flipping items on eBay, delivery driving with Deliveroo, or teaching guitar at the weekends.

Finding a hustle can provide not only an outlet for creativity but is one of the ways to save money that can actually turn into a full-time gig.


These ways to save money are not definitive but can begin getting you thinking outside of the box.

Your money coming in and money going out doesn’t have to be set. Be clever in looking at both, and seeing how you can adjust each to work in your favour.

If you begin planning ahead with a savings account thanks to these ways to save money, the future you will be thankful for it.


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