5 Simple Saving Tips

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One of my New Years Resolutions this year was to be more Money Savvy, I do spend a lot and could benefit from saving more as our kitchen renovation/conversion has just begun and let me tell you it’s not cheap! I have found myself panicking slightly because although I know we can afford the conversion I still like to know I have savings for any emergencies or even luxuries so today I’m going to give you my top 5 tips for saving with ease, sometimes it’s the smallest changes we need to make in order to save smart. These quick and simple tips can help you save for those luxuries you enjoy in life, they have certainly helped me and I have realised I don’t need to spend heaps of money to have a great family life and enjoy nice things. I will admit things haven’t always been like this and when I was younger I did spend, spend, spend and barely thought about savings mainly because I didn’t really understand bank terminology that well and there weren’t really any resources out there to help, luckily for you Halifax have thought about that and how hard it can be for the younger generation these days, they have created a whole bunch of super short and to the point videos to help you understand banking jargon in a nice and simple way. 

Tip 1 Open a savings account, sounds like a pretty simple one right? I came to realise a few years ago that by not having a seperate account for savings meant that I’d spend whatever I had in my account so by having savings accounts now I have a place to see my money go up and my spending go down. I have a number of different savings accounts which I also name; ‘Vinny’, ‘Me’ and Luxuries. I also have an ISA which is a tax free savings account if you haven’t got one of these yet then I’d highly recommend, who doesn’t want tax free savings? You can put up to £15,000 into the ISA for the Tax Year which is amazing.
Tip 2 Recycle and up-cycle, another thing I did last year was buy way too much makeup more than I need or use. This year I am determined to use up makeup I already have and make the most of them, I really don’t need another mascara or bronzer so time to use up what I already have and put them to good use. It’s also a great Idea to up-cycle, if your re decorating your home and your bored of all your furniture but can’t afford to buy new then why not repaint a few pieces. I up-cycled a chest of drawers in one of our bedrooms and it looks gorgeous, not to mention I saved myself around £400! 

Tip 3 Bargain hunt, if you simply can’t stop yourself from buying then check out the latest sales. I always buy online these days, I find I can really grab a bargain and there are always discount codes floating around on the Internet so just have a search and I’m sure you’ll save some money. Try not to buy things at full price, give it a month and I’m sure they will be down to 25% off or even better 50! 

Tip 4 Use your loyalty cards! Most stores have Loyalty cards these days, once you’ve earned enough points you’ll be able to buy items using your loyalty cards. You will also receive emails and offers though the post letting you know when they have great deals on so a really great way to get saving, they also offer exclusive deals for card holders which is fantastic. 

Tip 5 Last tip is for those trying to get onto the property ladder and to make sure you are getting the best deal you can, buying a house these days seems almost impossible without a huge deposit but thanks to the 5% Mortgage deposit it’s been made much easier for those with smaller budgets. With the new Help to Buy Scheme that was recently set up by the government you can now put down just 5% of the property value in order to get your dream home, it really is as easy as it sounds start researching and your dream could be closer than you thought! 

Halifax- Making Banking Extra Easy to Understand

I hope you found these tips helpful, I am certainly going to make more of an effort to save this year and once I’ve done that I’m going to treat myself.. maybe i’ll get some more makeup, after all I’m going to use it all up this year so I’ll need some more next year won’t I!

What’s your top saving tip? 

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