If your New Year’s Resolution is to save as much money as possible, this handy guide from Refused Car Finance is perfect for you! As a bad credit car finance specialist, they help many people to improve their credit score and provide general information on how to save money! See the top 10 ways on how to save money in 2019 below…
We’ve put this first on our list because cashback sites are one of the best ways you can save money in 2019. They are becoming increasingly more popular! Some of the main sites include Topcashback and Quidco. Simply put, cashback sites pay out when you click through them to a retailer’s website. The money you earn is then held in your cashback account which you can withdraw through PayPal. You can save hundreds of pounds a year when you use them correctly. You can also get cashback from many bank accounts. When you pay for things on your debit card, you get cashback straight into your account! Big names such as Lloyds Bank offer up to 15% when you shop at certain retailers!
Aim for a saving of 10%
Saving money isn’t always easy. However, it’s recommended that you should save at least 10% of your wage each month. Set up a monthly direct debit to take out 10% of your wage automatically and put it into a savings account or pop it in your piggy bank! Then you can budget the rest of your bills and any direct debits without included what you’ve saved, this way you can spend at save at the same time!
Make the most of family subscriptions
In this day and age, everyone uses some sort of music, film or TV streaming services. The best way to save money is to opt for any family bundle. You can get a Spotify Premium Family account for £14.99 for up to 5 people, compared to and individual account at £9.99 for just 1 person! If movies are more your thing, a Netflix Premium account is currently only £9.99 a month for up to 4 people and everyone can watch at the same time!
Save money on your shopping and take advantage of popular loyalty cards in supermarkets and main retailers. They are free to join and offer a wide range of savings and discounts the more you shop. Cards such as Tesco Clubcard, Morrison’s More Card and M&S Sparks are a great way to save money and build up points when doing the weekly shop! On the high street, you can also save money when you sign up for a Boots Advantage Card, Superdrug Card, My John Lewis, and even a Nandos card!
Switch your bank account
If you’re unhappy with your bank account, switching could be the best way forward for you! There are many bank accounts which offer a free gift or cash directly into your bank account just for switching to them! Some banks such as NatWest even offer you more cash the longer you stay with them. At the minute*, you can get £50 when you switch to NatWest and then another £85 after 6 months of being with them! Halifax offer £75 cash and £3 a month from then on and First Direct give you £125 cash when you apply through Money Saving Expert.
Sell your clutter online
If you have things taking up space in your home, why not sell them online and make a bit of money? Online websites such as eBay, Facebook Marketplace, Depop and Amazon are a great way to sell your stuff safely. They usually charge a very small fee to sell an item but sometimes have offers on with no seller fees. Make sure you take multiple good quality photos and include an informative description of you item to maximise your selling power!
Compare supermarket prices
It’s more common now to shop around for your weekly food shop instead of just being loyal to one store, this way you can maximise how much you can save! Using an online comparison site such as mySupermarket lets you compare products from 15 of the top supermarkets including Tesco, Asda, Sainsbury’s, Aldi and Lidl! You can even earn cashback too!
Save on family days out
Discount websites such as Wowcher, Groupon and Kids Pass offer discounts on hundreds of attractions across the UK. Search your area and save a percentage on day trips, restaurants and local attractions. Another good tip is to book in advance. Some popular theme parks and family days out offer discounts when you book online months in advance!
Look after the pennies
This one is totally old school but definitely works! Get rid of the copper out of your purse or wallet and save it up in a jar! You’d be surprised how quickly it can build up and use it at the end of the year to have a little extra money for Christmas.
Apps that help you save and budget are becoming more popular. If you’re prone to overspending and don’t leave yourself much money at the end of the month. Money Dashboard is an app that gives you an overview of your finances and you can see what’s incoming and outgoing out of your accounts. It’s completely safe to use and is a great way to stay on top of your spending.
*(All deals stated in this article are up to date as of December 2018)
Katie is a finance specialist with one of the biggest firms in London. From savings to investments, there’s nothing she can’t advise on and she’s here to help spread the word and help you on your way to financial freedom.