The cost of living is already quite high in the United Kingdom and if you are looking for ways to reduce your monthly outgoings, you have come to the right place. The old saying, ‘take care of the pennies and the pounds will take care of themselves’ certainly applies when looking to spend less money every month, and with that in mind, here are a few ideas to help you identify how you can reduce your outgoings.
- Review your existing transport – If you drive a car, that’s one big cash-guzzler right there and with Aprilia bikes from Wheels Motorcycles, you have a very affordable alternative to four wheels. Selling the car would give you the money you need for the bike purchase and when you look at the running costs of your bike when compared to a car, it’s a huge savings all round.
- Start a coin jar collection – The larger the glass container, the more money it will contain when full and depositing your coinage in the jar when you arrive home will gradually lead to a nest-egg. Of course, you must have the self-discipline to leave the money where it is and when it is finally full, you have the sheer pleasure of counting it.
- Take up cycling – While this is perhaps not for everyone, riding to the local shops instead of using the car will certainly keep the fuel costs down and if possible, why not cycle to work on dry days? Not only will you save money, you will also be a lot fitter than if you hadn’t taking up cycling. Here is an interesting article on how to look good on a budget, which might prove useful.
- Bulk Buying – Things that you use on a daily basis, such as washing powder, washing up liquid can be purchased in bulk from the online supplier, who would also deliver for free, as long as the order is substantial. Even if you only save a couple of pence on each item, the savings soon add up and with free delivery, you can’t really go wrong.
- Cutting out luxury items – Let’s face it, we all have those little luxuries that we love, yet if you have the willpower to say ‘no’, a lot of savings are there to be had. If you are a beer drinker, for example, why not limit the number of times you visit your local pub and if you smoke, this is something that you should quit, as smoking is expensive and will harm your health.
- Remove the TV from your home – If you live in the UK and do not have a TV in your home, you don’t have to pay the TV licence fees, which are considerable. The Internet can provide you with news, while there are documentaries galore on YouTube. Most TV programs are actual repeats, so you wouldn’t really be missing very much if you did do the unthinkable and got rid of your smart TV.
All of the above can help you to reduce your outgoings and with a firm plan in place, you can begin to save money for a rainy day.