The end of the year is almost here, and that means it’s time to rethink your saving and budgeting habits. If you’ve been less than savvy with your spending up until this point – don’t panic. Many people struggle with frugal shopping, but the new year is an excellent time to start fresh, with a brand-new budgeting strategy that’s sure to improve your chances of saving for whatever you want in 2019.
If your new year’s resolution is to spend less time spending and keep more of your cash in your savings account, then you’ve come to the right place!
1. Keep the Car in Park
Plenty of us love the freedom of owning a car, but it’s safe to say that maintaining your vehicle can be expensive if you use it often enough. Save yourself some cash on expensive fuel by keeping the car at home when you’re going somewhere that’s not too far away. Alternatively, consider carpooling with your friends when you’re heading to the same place and splitting the cost of petrol.
2. Stop Wasting Food
We’re all guilty of wasting food sometimes (particularly in the festive season). To make sure that you don’t end up with items in your fridge and pantry that you never use, start going grocery shopping with a list of only the things that you need most. Go through your kitchen before every shopping trip and ensure that you’re not buying duplicates. When you get to the grocery store, force yourself to stick stringently to your list.
3. Ignore the Sales
As tempting as sales can be, the only time you should be shopping in them is when you’re looking for something specific. Keep a list of the items that you most want to buy and keep an eye out for them whenever your favorite brands have a sale. However, if there’s nothing you want from a particular company, don’t convince yourself to go and shop their sales with the idea that you’ll “save money.” If you weren’t going to buy anything anyway, then you’re just wasting cash.
4. Spend More Time at Home
You don’t have to go out to have a good time. There are plenty of ways that you can have fun at home without having to pay the expensive costs of bar drinks, cinema tickets and more. Consider having a movie night with the family with old films that you have in your collection or take up a new hobby like learning how to cook. Learning something new is a great way to bond with the family, and the skills you use could save you some time and money later on too!
5. Switch to Energy-Efficient Bulbs
As the lightbulbs in your house begin to burn out, commit to replacing them with more energy-efficient LED options. Although energy-efficient bulbs will cost you a little bit more than the cheaper models, to begin with, they should last a lot longer, and they won’t cost as much in terms of electricity either. While you’re at it, remember to turn those bulbs off when you’re not using them. You’d be surprised how quickly your energy bill can ramp up when you’re not watching it.
6. Consolidate Your Debts
If you’re paying through the nose for interest on some of your old debts, now could be the perfect time to switch to a better deal. Go online and see if you can get a better interest rate from a different provider. It might cost a small fee to switch your loans over to another provider, but you could save yourself a serious amount of money in the long run. Remember to shop around for future loans too, to make sure that you’re getting the best deal possible.
7. Grow Your Own Vegetables
Finally, why not put your green fingers to the test this year? There are plenty of fantastic vegetables that you can grow in your yard without having to be a master gardener. Get online and find out the best times of year to start planting your favorite veg and plan your strategy as you go. You can even get your children involved in digging holes for your seedlings and making sure that everything grows well in the months to come. Growing your vegetables will save you some money on your groceries, and you’ll also find a fun thing that you can do in your spare time with your loved ones too!
