Saving Money When Possible And The Pitfalls That You Might Face*



*This is a collaborative post*

Saving money can often be a huge priority for some people especially during the summer months. For some, they have children on their school holidays needing entertaining, or just generally feel like they need to save for that important summer holiday you have been looking forward to. But often, when saving, we don’t explore all of the options, and so it might be worth trying out some of my suggestions below. However, there are some common pitfalls we can all face, so hopefully highlighting tips and advice will help you save what you want for your summer goals and for your future.

Meal plan and shop your kitchen

Your food shop can often be a big expense each week, so taking action on this could help reduce your spend and save you a fair bit of money in the process. Meal planning is one of the obvious ways to save as you only buy what is needed from the shop, but sometimes, during the week or as we approach the end we can be tempted to go to the shops to “top up” open essentials. Instead try and shop your kitchen. You are bound to find ingredients lurking in your fridge and cupboards that can keep you going.

Do “no spend” weeks work?

Some people really swear by “no spend” weeks and I think they can really work. I happen to believe that it is the psychology behind the actual challenge that encourages you to explore other ways to handle a situation where ordinarily you would spend money. Shopping your kitchen, which I have just mentioned is a fine example. Not spending encourages you to save, and boosts your income, while making the most of what you have.

What happens when life gives you lemons?

Life will always throw you curveballs. The fridge breaks, the car breaks down, and often we don’t have the funds to get this sorted straight away. This is when we might be likely to consider things like an online payday loan to get us by. If this is the case try and look at the bigger picture, you need a fridge to live, you need you car to get to work to earn money. Loans will be repaid, and lessons can be learned when you have your lemon moments. Just remember to make the lemonade in the process.

Use the internet to your advantage

The internet is full of ways you can make and save money. Saving money can be done through cashback sites where there is money off or cashback for making purchases and even on you everyday spending. You could also use the internet to make you money by filling out online surveys or taking on freelance jobs that you can do in your spare time. There are so many ways the internet has options for you that you can end up saving and making quite a bit if you put your mind to it.

I hope that these tips help you to save money where possible.

*Contributed by Sam Jones. *Header image via Pixabay


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