4 Simple And Effective Tips For Saving Money In The Cost Of Living Crisis

It’s no secret that the rise in the cost of living has had a huge impact on how we spend money. More and more everyday items getting increasingly expensive it’s getting increasingly harder to justify certain purchases. Here are some of our tips on saving money.

There are loads of hacks out there at the moment which can massively reduce your outgoings but in this article, we focus on tips to help you avoid price hikes from energy bills to streaming services and phone contracts to air conditioners.

Cancel services you don’t use

This is a little harsh as these outgoings are likely on things you enjoy like, gym memberships, streaming services, and music apps. But if the prices are going up it would be hard to justify spending £10 per month each (they soon add up) on a service you aren’t using to its full potential.

It’s easy to forget just how much you are spending on these services and many of them will be paid via direct debit, so we’d suggest taking some time to sit down and go through them all. You will have to have a no-BS approach to this, if you’ve only been to the gym once in the past month then maybe it’s time to cancel and search for free exercise routines online.

If you use Netflix for example maybe you give other free streaming services a try instead. Here are some of the best free streaming services – https://www.t3.com/news/best-free-streaming-services.

Check your contracts

Check to see how long you have left on your phone, broadband and energy contracts. If you don’t have long to figure out whether you’re getting your money’s worth and if not, it may be time to seek out another provider. You may be able to get a better and cheaper deal that suits your needs rather than paying over the odds for a service you don’t use to full capacity.

Phone bills are a massive focus for this, millions of people are out of contract on their phones but are still paying out of their ears for it each month. By switching to a SIM-only deal you may find yourself saving up to half or even more on your bills each month.

Here are some of the best SIM-only deals around – https://www.t3.com/features/best-sim-only-deals-comparison

Drive smoother to save on petrol

You have likely heard petrol prices are at an all-time high which makes it harder for those who drop their kids off at school, drive to work and run errands. There are a few ways you can save on petrol one of them being improving your driving skills.

One of the main things you should do is to get your petrol from supermarkets rather than petrol stations. Most of the time supermarkets have cheaper petrol and can save you some pounds each time you fill up.

Now you have a full tank, try easing off the accelerator, changing gears earlier and sticking to the speed limit. When you avoid revving too much, braking harshly or turning at speed it will lower your car’s energy, fuel consumption and maintenance fees saving money overall.

Another thing you should avoid is leaving your car running, we’re all guilty of it, whether you’re waiting for someone to come out when picking them up or nipping back into the house after you forget something. Whatever the situation, leaving your car running is a huge waste of money.

Most importantly, consider whether you actually need to drive or not. If you can walk it, walk it, if it’s cheaper to use public transport do so.

Buy cheaper products in your food shop

The cost of living price hike has brought about more expensive everyday items like bread, milk, and bread. The odd price increase can really pile on the pounds when you do your weekly shopping.

If your local supermarket is pricier than others then consider switching to a cheaper one. Waitrose and Morrisons are the more expensive supermarkets in the UK with Lidl and Aldi being the cheapest options so consider switching it up. Most supermarkets offer their own brand of products and are often just as good if not better than the known brands and more importantly much cheaper. One example, Lidl’s own brand Corn Flakes is around 55p whereas Kellogg’s Corn Flakes are priced at around £2.

Lastly, check the reduced sections. Supermarkets have these to reduce food waste and items here are typically near their best-before and use-by dates. When you notice a yellow sticker take a look and if you want you can either eat it within the date or if not you can always freeze it and enjoy it later down the line (if the product is freezer safe).

We hope our tips on saving money helped!

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