In a nutshell:

Saving money each year means you can invest more and spend more money on things that you enjoy. In this post we suggest 5 things, which you can start from today, which will save you money!

Key Points:

  • It is important to track your spending each month
  • Budgeting is one of the best ways to track and save money
  • Stopping buying lunch/coffee, paying people, impulse purchases and monthly subscriptions to save more money


  1. Introduction
  2. Set up a Budget
  3. Buying lunch/coffee
  4. Paying people
  5. Impulses purchases
  6. Monthly subscriptions


We have read numerous money savings posts and tips over the years. The potential list of ‘tips’ to save money is endless, and different things work for different people. But, in this post we will be giving five of the best tips that have worked for us, which you can start today, to save yourself some money.

Set up a Budget

People hate looking at their current account – how many times have you heard someone say after a night out something along the lines of, ‘I don’t even want to check my bank account today!’

Firstly, you need to understand your income and expenses each month. Become aware of where your hard-earned money is going each month. Don’t be that person that is constantly surprised each time they open up their banking mobile app.

Now, you’re aware of your spending, you need to look through your bank statements – where are you spending money? What are you spending too much money on?

From this, you need to try and establish a budget – one that is realistic and that you can follow. One method, to get started, is to try and save 10% more than you are currently saving. For example, if you are living paycheck to paycheck, start with saving 10% each month, for a few months, to prove to yourself you can follow a budget.

The more accurate your budget is, and the more closely you follow it, the better you will know where your money is going. As well as how you can reduce your spending in order to save and invest more!

Stop buying lunch/coffee

There are roughly 260 working days in a year.

If you buy a meal deal, consisting of a sandwich, crisps, and drink, each day for lunch – for £3.00, this totals £780.

If you buy a cup of coffee every morning – for £2.50, this totals £650.

This comes to a massive £1,430 each year!

That could pay for a holiday – even multiple holidays. That money could be saved in a high-interest savings account, or even better, invested in the market.

Instead, make lunch the night before. A loaf of bread costs £1, which will last you for a week. Some chicken/ham/cheese will cost a couple of pounds, and also will last for the whole week.

Furthermore, wait until you get in the office and then have a coffee. This will save you a lot of money each year, over your working life.

Understandably, people like to treat themselves – so why not do this on a Friday? Then you would also have the added benefit of enjoying your lunch out and coffee as you have been looking forward to it all week. Even if you treat yourself on a Friday – you will be saving money, over £1,000 per year!

Stop paying people

Nowadays there is a wealth on information on the Internet. Particularly, if something breaks a quick YouTube search will more than likely help you out.

If something breaks, or goes wrong – fix it rather yourself than paying someone. Whether that involves teaching yourself the skill, or asking a friend or neighbour.

Not only will you learn a new skill, which you can use in the future and pass on to friends and family, but you are able to save paying tradesman!

Think about the number of times you have paid someone for the same problem. Doing this means you will be developing a new skill and saving money.

Stop impulse purchases

A study in November 2017 in the UK found that the majority of people impulse spend every month. Whilst a few pounds here and there aren’t that much, it adds up over the months and years.

When you go shopping have a set list of everything you will be getting. Make sure you only get these items. This will help you cut down your spending each month.

On top of this – shopping online is a real killer. You need to try and stop impulse spending online as much as possible. Whilst impulse spending 70p on a chocolate bar in a supermarket should be avoided, you can easily impulse spend £70 on some new trainers online! A good rule to follow is if you find something you want, wait a month, and if you still want it then go ahead and buy it.

Stop monthly subscriptions

Go through your bank statements and see what transactions are coming out monthly. These monthly subscriptions are another real killer as they eat into your bank balance each month, without you even realising it.

Think about if you really get your moneys worth for each subscription.

Do you use that Netflix/Amazon Prime subscription?

Do you use that Spotify/Apple Music subscription?

If you have a Netflix subscription, for example, but your mum has one – why don’t you share and use hers? If you hardly use your own subscription – cancel it!

Also, renegotiating ‘subscriptions’ such as phone contracts, insurance, bills, and so on, is a great way to reduce your monthly spending each month. This means saving more money, and more money in your pocket!

Final Word

Ultimately, saving money is all about balance.

Spend money on things that make you happy and give you a fulfilled life. Whilst also saving money on things that don’t add value to your life, and use this extra money to either save/invest, or go towards things you enjoy, such as holidays and experiences.

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