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@account3 Money Mentors, have come together to share with the world our top tips on how to save money. Why don’t you try one or two of the tips and let us know how it has helped you?
Below are some ways that we use, that may save you those extra bucks.
Manage your gadgets and appliances well. A small amount of electricity is drawn out when it is not switched off from the plug, so it would be a good idea to have it switched off and unplugged. According to the energy saving trust this could save you as much as £30 a year.
When making a hot drink, only boil what you need. That way you will use less energy, and save money. Or, if you boil water in a pot/pan on the stove it may be cheaper than using a kettle. You can also use a large flask to save hot water and prevent you from boiling the kettle repetitively.
To get accurate meter readings and help you understand how you use energy you can ask your energy provider to set you up with a smart meter at home.
Changing the light bulbs in your house to LED energy saving light bulbs and avoiding using lights during the daylight hours will save you money.
I put a small amount of money in a tin aside every week as I get paid. If I wait to see what I have at the end of the month there is normally nothing left.
I try to avoid debt if possible. But if you have debts face them as soon as possible, negotiate with lenders. Be fully aware of your financial circumstances, so that you can deal with any financial disadvantages, which could culminate; in causing you to spiral further into debt and take longer to resolve. Ask for help you may be able to stop further interest or reduce the costs if you ask for help early.
Walk from A to B instead of catching a bus. I save money on transport costs, and it helps me to stay fit and healthy and achieve my daily steps target.
If it is far I use a bicycle instead of riding the tube.
I buy fruits and veg from local markets such as, Whitechapel, Bethnal green and Dalston Market. It is cheaper and they use plastic than supermarkets.
Shop for items/clothing during major sales, prices are dramatically reduced after each season. Purchased goods can be used the following seasons. Look for buy one get one or more free offers.
Order toilet rolls in bulk from Who Gives a Crap. It’s perfect for a large family as they last. https://uk.whogivesacrap.org/
I try to avoid buying takeaways and prepare meals at home. This is usually more economical as well as more nutritious. This could save you money in the long run. If you do want a takeaway, you can use an app such as "good to go". The app was set up to fight food waste. https://toogoodtogo.co.uk/en-gb/
Mobile apps that offer good deals include Motatos where you can buy overproduction or things that will go waste such as faulty packaging, close to sell by dates, and food trend. It started in Sweden and they are not only saving you money but food and products waste. https://www.motatos.co.uk/ and OLIO is one of many good apps to find free stuff that people are giving away.
A hot drink will warm your hands up when it is cold and save you putting on a heater.
If you would like to join the Money Mentoring course at account3, the next course will be running soon so contact Rahina to book your place admin@account3.org.uk.
On this course, you can learn to be a certified Money Mentor and support individuals or groups to understand their finances a bit better and make the most of their money by improving their knowledge and choices.
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