16 easy ways to start saving money for the future

Discover 16 ways to start saving money without even realising you’re doing it

Do you have a saving goal for the future? Perhaps you want to save for a mortgage or you fancy a set of sparkling new wheels. If you struggle with saving money, it’s often because your mind is more set on today then what might happen in the future. To change that mindset you need to establish what you want to achieve in the future and set it as a goal. You will need to put today’s wants and desires to the side temporarily – and that includes saying no to impulse buys. Once you’ve set your goal you need to put the steps in place to start saving money. Simply follow these 16 steps and you’ll soon be a saving queen.

Save money without realising it

If you struggle to physically put money aside, why not let a app do it for you? Apps like Chip, Plum and Oval use a sophisticated algorithm to assess what funds you have available and transfers it into a savings account. It’s one of the easiest ways of saving money as you won’t even notice the money is gone. Plum and Oval also offer incentives if you invite your friends and family to join in the fun. You can discover how to get started with this post on how to get free money.

Clear your debts first

If you’re paying for a large number of debts you’ll probably find they take up the majority of your spare funds. Before you can really start saving you need to clear these- if you don’t any savings you do make will be wiped out by the interest being charged on your debts. Put all spare money aside each month to pay your debts starting from the smallest to the largest. By clearing the smallest ones first you’ll feel like you have made a real dent in your debt free journey and it will motivate you to start paying more money towards clearing the larger amounts.

• Top tip – If you have a lot of debts try consolidating them all together – debt advisory services like Stepchange give fantastic free advice.

Stop spending so much on groceries

If you regularly shop at Marks and Spencer or Waitrose you may benefit from buying your shopping elsewhere. Stores like Aldi, Lidl and Asda offer the same products at half the price and will help you to start saving money.

Cancel unnecessary Direct Debits

Have a look at your bank statement and see what Direct Debits you have set up. Can you see that Direct Debit for the gym you visited twice last year or the beauty box you tried once but forgot to cancel your subscription? If you don’t need it, you need to cancel it. Direct Debits are one of the easiest ways to spend money unnecessarily. Once you’ve reviewed your account you’ll soon realise how much money you can save for your future.

Switch to unbranded products

Unless it’s a brand you literally can’t give up – it’s Cherry Coke for me – you’ll find most branded and unbranded products taste the same. Why not buy some own brand products, do a blind taste test with brands you love and keep the ones you think taste the best.

Spend bonuses wisely

If you’ve just got a bonus at work it can be tempting to go out and buy a new phone or lots of new clothes. However before you go on a shopping spree, decide whether you really need anything new. Could you put the money aside in a high interest savings account – or if you really don’t want to give it all up, perhaps you could save half and treat yourself with the remainder.

Do you really need that Sky subscription?

Even with the most basic subscription, Sky isn’t cheap. There’s plenty of alternatives available that are either completely free or charge a small subscription each month. Freeview doesn’t charge a penny and has over 70 standard channels. If that’s not enough you can look at the most popular options including Netflix, Amazon Prime, Britbox and NowTv.

• Top tip – If you’re still in subscription with Sky, why not call their customer service department and see if there is a way you can cut the cost of your contract.

Reduce your energy costs

Whilst things like electricity and gas are essential, it doesn’t mean you need to pay through the roof to fuel your home. Some of the best cheaper suppliers include Octopus Energy and Bulb.

Borrow the things you need

Are you planning on renovating your home or going skiing and need the equipment to get started? Before you fork out for new products why not have a look and see if you can hire what you need. Fat Llama is a good place to start to hire day to day products and Speedy Services for products to do up your home.

Pack your lunch at home

Once you’ve bought a coffee, a sandwich and a bag of crisps you’ve probably already spent just under £10.00. I’m sure you’d agree there’s much better things you could be doing with that money. Every Sunday set time aside to make your lunches for the week. If you love coffee you can make it at home and buy a flask to keep it warm during the day. At the end of the week move all the money you’ve saved by not buying lunch and put it into a high interest savings account. One of the easiest ways to start saving money and you won’t even notice the difference.

Lower your mobile phone bill and start saving money for more important things

If you can try to switch to a sim only contract as soon as possible. You will only pay for the data you use and contracts start as low as £5.00. What’s even better is with apps like Airtime Rewards you can get even more money off your contract- up to around £20.00 per month. If you’re only paying £5.00 for your contract you could use your mobile for free!

Don’t forget discount codes are a great way of saving money

With the advent of voucher and cashback sites, it’s trendy to get discounts on your purchase. In fact if you didn’t I’d be worried – you don’t want to save money on that new dress? Discount codes are a great way of saving money and you can put the money you’ve saved aside in your savings pot. Try Vouchercodes (they also have a app) or Honey.

If something breaks – fix it yourself

Whilst it’s probably unlikely you’ll be able to fix the washing machine or fridge yourself If it breaks, you could try your hand at fixing other things like broken furniture. If you try fixing it yourself first you could save money on buying a new product or asking some to repair it for you.

Borrow that new book you want

Reading is a great way to pass the time, and whilst books don’t seem that expensive, costs can soon add up. Your local Library has a huge selection of books for you to choose from, alternatively you can check out the free selection of books available on Amazon Kindle.

Sell everything you don’t need

Do you have a cupboard full of shoes or clothes that you don’t wear anymore? Whatever it is, if you haven’t used it in over 6 months it’s time to get rid and have a clear out. There’s loads of places you can sell stuff you don’t need anymore including boot fairs, eBay, Facebook Marketplace, Shpock and lots more.

• Top tip – if you’ve got lots of makeup that doesn’t suit you, check out this post on the best places to sell old makeup.

Avoid spending any money for a week

Do you think you could avoid spending money for a week? To make it easier you can exclude essentials like grocery shopping and travel. Anything else you don’t need like coffees, a new top or those cocktails should definitely be avoided. Write a diary to keep track and see how well you’ve done at the end of the week. This is probably one of the hardest ways of saving money, but you’ll find you’ll probably have loads left by the end of the week.

Did you know you can also get extra treats and rewards on your birthday too? Check out my full list of birthday freebies.