As the cost of living continues to rise, saving money becomes more difficult. Whether it’s your rent, utilities, or fuel, the costs are increasing, and it can be frustrating to keep up. However, you can do some simple things to reduce how much you are spending. Learn how these simple tips will save you money as the cost of living continues to rise by reading this article.
9 Simple Ways You Can Save Money As The Cost Of Living Rises
Create A Budget
One of the most important things you can do to save money as the cost of living rises is to create a budget. Tracking how much money you are spending on necessities and lower priority items will help you understand where your money is going. When you know where your money is going, you can figure out what needs to be cut or reduced to ensure that those essentials are covered.
After creating a budget for yourself, work backwards from your desired income and expenses by figuring out where the gap needs to be closed. From there, you can start cutting costs and expenses until the two match up. This is one of the simplest ways to save money as the cost of living continues to rise due to inflation.
Reduce Your Streaming Services
Do you have four different streaming services, but you’re only using one or two of them? You could save money by consolidating into a service that gives you more for your money. By reducing your streaming services to only have your favourites, you’ll save the money wasted on the services you barely used. Furthermore, that money can go towards other things you may have been putting off or be added to your savings account instead.
Take Advantage Of Free SIM cards
There are many ways to save money, and one way is by taking advantage of free SIM cards. In the past, it’s been a hassle to keep up with your phone carrier because you’re liable to pay a monthly bill for your mobile phone service. But luckily, there are now carriers that offer free SIM cards with no annual plan or hidden fees.
When you order a free SIM card, you can take it and activate it on any compatible device. This means that you won’t have to buy an expensive new phone in order to switch providers. Additionally, when you sign up for a free SIM card, you can choose whether you want a rolling plan that you can swap and change depending on your usage or if you would prefer a plan free SIM card that you can pay as you go.
If you’re interested in changing to a free SIM card with more freedom and no annual charges, check out Lebara. They offer SIM only plans that can cater to your needs and help save you money at the same time.
Plan Meals In Advance
Planning your meals in advance is one of the easiest ways to save money. You can plan a week’s worth of food shopping for less than £50 if you’re careful of the ingredients you will need, and you’ll have access to healthy, home-cooked meals without the need to eat out or order a takeaway.
This will not only help you save money on food, but it will also reduce your carbon footprint by eating fewer prepared foods that contribute to unnecessary waste.
Buy Alternative Products To Spend Less On Your Food Shop
When you’re doing your food shop, it’s tempting to buy the most expensive brand name products. But when you’re trying to save money, it’s best to keep your budget in check by buying less expensive alternatives. For example, if you want a loaf of bread from the supermarket’s bakery section, stop and look at what they offer in their own brand range. You might find some perfectly good bread for a fraction of the price.
Use Cashback Websites
Cashback websites are an excellent way to save money. It’s like getting paid for buying things you need. If you use cashback websites, you’ll be able to get a percentage of your purchase back in the form of cash or gift cards.
Take On A Side Hustle
There are many different options for side hustles, but some popular ones are tutoring, freelance writing, dog walking, and pet sitting. Tutoring is a great way to earn money because you can be set up virtually anywhere with a computer and internet connection. If you have a talent in writing or photography, then this may be another option for you. Dog walking and pet sitting are more hands-on ways to make money because you will need to handle the animals yourself. However, if these tasks don’t bother you, then they could be worth doing, and you’ll have the added bonus of getting exercise into your weekly routine.
Sell Unwanted Items
In most households, a few items have been around for a while but are no longer needed. If you’re not using it, why keep it? Sell those items to make some extra cash. It’s important to be realistic about the value of your item and what you expect to get for it. You can use websites such as eBay to get a rough estimate of the value of your item. Additionally, you could also use online services that take your unwanted books, CDs, DVDs, or Blu Rays and pay you without you needing to spend time looking for a buyer.
Have A Day Of No Spending Each Week
One way to save money is by having a day of no spending each week. This could be every Friday, or you could pick another day of your choosing. It doesn’t matter when it is as long as you are consistent with it. After a while, you’ll find there are more days a week you don’t need to spend any money as your alternatives for your no-spend day are becoming easier to use.
Conclusion
With the cost of living constantly on the rise, it can be difficult to find ways to save money. However, with a little creativity and careful planning, you can find ways to limit your spending and still get what you need.
