It takes time to learn how to be good with money. Good budgeting advice should be taught in schools, so when teenagers leave school, they have an idea of how everything works. It’s never too late to learn to be good with money, and there are many websites which teach helpful budgeting advice, and offer downloadable budget planners, and income trackers to help you.
It’s important to know exactly what you have coming in, and what goes out every month, so you can plan accordingly, and for many of us, the outgoings can be very close to the funds we receive, so a ‘money makeover’ can help to improve our mindset when it comes to money.
Money makeovers are where people will sit down and take a look at their finances as a whole, including savings, investments and pensions. They will determine what they are spending time on, where their money is going, and how they can save some money. So let’s take a look at some ways you can reduce your monthly outgoings.
The biggest tip is using a budget planner, as they’ll enable you to list all of your direct debits and standing orders. When I did this recently, I realised I was paying for two blog backup services, and they both did the same thing, and I probably wouldn’t have noticed had I not had an audit of the services I’m signed up to.
How to Save Money on Utilities Bills
Utilities bills are something that every single person has to pay, but they are also one of the most frustrating monthly payments, as they feel like they’re always seemingly increasing.
Nobody enjoys paying their utility bills, but there are some ways you can save money on your monthly utilities bill. The first way is by looking at your usage and finding out where you may be wasting energy or gas.
Are you using appliances on standby? Do you have a smart meter? Are you utilising energy efficient appliances? You should look at your thermostat settings and any other ways that you could potentially be wasting energy around your house.
Never just accept your yearly renewal quote, always check it with other providers to see what they’d charge for the same period, as some providers up the prices each year, and many homeowners just accept the increased fee without shopping around.
Food Hacks for Saving Money in the Kitchen
One of the best ways to save money in the kitchen is by learning how to cook. Cooking your own meals not only saves money, but also allows you to eat healthier and saves time.
If you’re looking to save some money on your food budget, consider planning out your meals for the week. Planning out your meals means you can buy ingredients in bulk that will last a few days and avoid over-buying food. By bulk cooking, you can store what you’ve made in freezable containers, which you can then whip out and cook for a quick meal option.
Make a list before you go to the grocery store. This will help you to avoid impulse buys, which are often the more expensive items on your shopping list. You’ll know exactly what you need before you head there and can come back with only what’s on your list.
When you buy the types of foods that are on sale and in season, you can save up to 40% on your grocery bill. Buying seasonal produce also means that it’s more likely to be a local food, which reduces the carbon emissions from transportation.
We all know that managing our money is not always easy. There are so many things to consider on how to maximize on what we have. But with the right tips, it becomes easier than you think. So consider downloading a free budget planner today, and see if you can see ways in which you can save money on your outgoings.