Proven Ways to Save Money Each Month

Ailsa Adam May 2, 2024

Do you want to have more cash in savings? It’s so important! Saving money gives you safety for the future. It prevents debt. With savings, you can pay for your needs. Unexpected costs won’t stress you out.

Saving also lets you afford nice wants and fun things too. But most of all, saving is a smart money habit to build. It gets easier the more you practise putting cash aside. Even small amounts saved add up big over time.

Create a Monthly Budget

Income tracking: Do you know how much cash comes in each month? Tracking income is the first step to making a budget. You list all the money you get from jobs, etc. This shows the total cash you can spend or save.

The average amount of savings in the UK is £9,633.30, as reported by Raisin UK in their survey in 2023. However, there is a significant disparity between men and women, with men having an average of £13,140.61 and women having an average of £6,869.84 in savings.

Expense Categorization

Next, you list where your cash goes each month. We call these the expenses you have to pay for. Group expenses into types like rent, food, fun, and bills. See what costs the most and where you can cut.

Setting spending limits: Now you can set some limits for how to spend:

  • Pay for needs first before wants or extras
  • Only spend what you can pay for, no debt
  • Put some cash away for later, save a bit

Budgets help show the cash you get and where it goes. Smart limits prevent you from spending too much each month.

Cut Unnecessary Expenses

Eliminate subscriptions: Look at what you pay for each month. Cancel anything you don’t use. Maybe you don’t watch those streaming shows or use that gym. Why keep paying for subscriptions you don’t need or want? Go through each one and cut the ones you don’t use.

Reduce dining out: Do you eat out a lot or get food delivered? Those costs add up so fast each week and month. You can make easy, cheap meals instead of costly restaurants.

Limit impulse purchases: Have you ever bought stuff you didn’t really need? We all do it sometimes when we’re out shopping.

But those little impulse buys can waste so much cash. Before you buy anything, ask if you truly need it. Cutting these costs gives you extra cash in your pocket. Look for other bills or expenses you can reduce, too.

What about your TV or internet package? Could you downgrade? Do you pay for apps or subscriptions you forgot about? Check bank statements to spot any costs to cut or reduce.

Use Coupons and Discounts

Online coupon codes

Lots of sites share working codes that can save big. Just copy and paste the code when you checkout online.

Loyalty programs

  • Earn points or cash back for your purchases
  • Get access to member-only sales and events

Cashback apps

These apps are so great for earning cash back on purchases. Just browse the offers in the app before you shop. Find deals for the stores you plan to buy from. Complete the requirements and you’ll get cash back after!

Make it a habit to search for coupon codes online. Before any online purchase, just do a quick search. You’ll find so many codes to use and save cash.

Reduce Utility Bills

Energy-efficient appliances: Old appliances like fridges and washers use a lot of power. Upgrading to new energy-efficient models can save a bunch. These use way less electricity and water to run.

If you don’t have money for new appliances and also have bad credit, you can get a 5000 loan for bad credit. But be smart – only borrow what you truly need. This way you can afford those energy-saving upgrades bit by bit.

  • Thermostat adjustments, such an easy way to reduce heating and cooling costs!
  • In winter, set the thermostat lower when you’re out or sleeping
  • In summer, set it higher so the AC runs less
  • Use a programmable thermostat to adjust temps automatically

Unplug electronics

Even when turned off, electronics like TVs use some power. Over time, this “vampire” energy costs you a lot of money. So unplug things like kitchen appliances when they are not in use.

Look at past bills to see where you use the most. Then make simple changes to cut down those energy hogs.

Adjust temperatures to cut heating and cooling – big savings there! Upgrade old power-hungry appliances if you can afford new ones. And always unplug things you aren’t using to avoid wasted energy.

DIY Home Repairs and Maintenance

Basic toolset

Having some basic tools lets you do simple home repairs. A toolbox with a hammer, pliers, screwdrivers, and wrenches is great. These cheap tools pay for themselves fast with DIY jobs. You can fix leaks, assemble furniture, and do basic maintenance.

Online tutorials

For any home repair, you can find video guides online. Search for your problem, like “fix a leaky faucet” or “unclog a drain.” Step-by-step videos show you just what tools and steps to follow.

  • Watch first to know if you can do it
  • Have all tools and supplies ready before starting
  • Go slowly and follow each step carefully

Safety precautions

Some jobs are too big or complex to DIY safely. If you lack skills or tools, hiring a pro is best. And some repairs need permits or must follow codes. Pay attention to any risks, and don’t take chances.

If a major repair is needed, a pro may be wise. And if funds are tight, look into guaranteed loans. These provide the cash to cover repair costs upfront. Just research loan terms and only borrow what you need. DYing basic home maintenance and small fixes saves so much money.


Now you see how crucial saving is each month. It’s key! Having cash saved up gives you choices, freedom, and peace of mind. The tips here make saving simpler than you might expect. Small cuts in spending add up to big annual savings. Don’t delay – use these easy tactics to start saving today! Make it your new money habit. Save a bit each month. Those savings grow fast and put you in financial control. Take that first step right now toward your savings goals!

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