Countries and people across the globe are having major financial issues, with thousands of employees constantly getting laid off. If you’re in America, I’m sure you’re aware that over 47 million people currently rely on food stamps. Europe’s economic crisis is now worse than the Great Depression. This kind of reality might be overwhelming for some, however humans are capable of adapting.
With the average cost of living having soared over the last few years, food and fuel prices are still up. With the global economy still struggling to recover from the financial crash, many of us are making cuts and trying to save cash where we can. Luckily, it is often the smallest and most easily applicable tips that can accumulate to make the biggest of savings in the most expensive aspects of our lives.
- Shopping online can be a great way of making sure you only buy what you need; avoiding ‘tempting’ deals that cause you to spend unnecessary money.
- If you are heading to the grocery store, creating a meal plan and writing a list of the ingredients you require for the week will help avoid impulse buys.
- Deciding what are necessities and what are luxuries, then cutting down on such treats can reduce your spending.
- Cutting out the purchase of cigarettes and alcohol will not only benefit your health but leave you with that extra bit of money for safe keeping.
- Avoiding well known brands – be it food, clothing or appliances – and opting for a shop’s cheaper, own brand alternative will make a big saving.
- It can be easy to stick with a particular brand or store because you are familiar with it but shopping around can help uncover some much cheaper options.
- Cancel your gym membership and go for a walk or jog instead. You benefit from the fresh air and save yourself from a hefty monthly charge.
- Staying in with a DVD and some shop bought popcorn is a lot cheaper than heading to the movie theatre.
- Holiday in your own country or even have a ‘staycation’; where you spend your time off work at home with friends and family, enjoying your local amenities.
- Book any necessary train or bus tickets as much in advance as possible to get the best price.
- Negotiate the best deal with your phone, internet and television providers. Sometimes taking a package that offers all three will offer the biggest saving.
- Install energy-efficient light bulbs and take quick showers instead of baths to reduce the amount of energy you use.
- Switching off appliances when they are not in use, hanging laundry out to dry and reducing the temperature of your washing machine will also cut energy bills.
- Grow your own fruit and vegetables to become more self-sufficient.
- Only pay for what you need; cancel subscriptions to TV channels you don’t watch and change to a cheaper phone tariff if you never reach your call and text limits.
- Don’t accept unnecessary extras on loans, credit cards or mortgages (like PPI), as these will boost your monthly bills.
- Check your accounts regularly and report unsolicited withdrawals as soon as possible to avoid fraudulent activity.
- Look around to make sure you get the best interest rates possible.
- Try to claim back any unfair charges for late payments, bounced cheques or overdraft usage.
- Avoid using a credit card if possible, as these can soon accumulate high levels of debt. If using one, opt for a 0% interest version.
- Change your bank to a federal credit union. They don’t practice fractional reserve banking.
We hope the following tips will help you and your family survive the ongoing struggle. Life is hard for many, so always remember to smile and treat other with respect. We’re all in this boat together. Have a great day!