{"id":27217,"date":"2024-03-11T20:54:55","date_gmt":"2024-03-11T20:54:55","guid":{"rendered":"https:\/\/www.lendingstream.co.uk\/blog\/?p=27217"},"modified":"2024-03-13T15:25:06","modified_gmt":"2024-03-13T15:25:06","slug":"how-to-save-money-each-month","status":"publish","type":"post","link":"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/","title":{"rendered":"How to Save Money Each Month? (24 Best Ways)"},"content":{"rendered":"\n<p>Do you want to know how to save money each month? Saving money should be included as part of your monthly expenses. It can help you build an emergency fund, pay off debt faster, and begin investing for the future. But saving money each month isn\u2019t always easy. Especially when it feels like there\u2019s no room in your budget to put spare cash into a savings account. But there are ways of doing it.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-67d61eb5499b7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-67d61eb5499b7\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#1_create_a_monthly_budget\" title=\"1.&nbsp;Create a monthly budget\">1.&nbsp;Create a monthly budget<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#2_track_your_spending\" title=\"2.&nbsp;Track your spending\">2.&nbsp;Track your spending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#3_automate_your_savings\" title=\"3.&nbsp;Automate your savings\">3.&nbsp;Automate your savings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#4_pay_off_your_debts_quickly\" title=\"4.&nbsp;Pay off your debts quickly\">4.&nbsp;Pay off your debts quickly<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#5_use_a_credit_card_with_rewards_or_cashback_offers\" title=\"5.&nbsp;Use a credit card with rewards or cashback offers\">5.&nbsp;Use a credit card with rewards or cashback offers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#6_reduce_your_mortgage_payments\" title=\"6.&nbsp;Reduce your mortgage payments\">6.&nbsp;Reduce your mortgage payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#7_create_a_%e2%80%9cno_spend%e2%80%9d_day_each_week_to_save_money\" title=\"7.&nbsp;Create a \u201cno spend\u201d day each week to save money\">7.&nbsp;Create a \u201cno spend\u201d day each week to save money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#8_cut_back_on_eating_out\" title=\"8.&nbsp;Cut back on eating out\">8.&nbsp;Cut back on eating out<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#9_save_money_each_month_by_planning_your_meals_in_advance\" title=\"9.&nbsp;Save money each month by planning your meals in advance\">9.&nbsp;Save money each month by planning your meals in advance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#10_declutter_and_sell_things_you_dont_need\" title=\"10.&nbsp;Declutter and sell things you don&#8217;t need\">10.&nbsp;Declutter and sell things you don&#8217;t need<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#11_downsize_your_living_space\" title=\"11.&nbsp;Downsize your living space\">11.&nbsp;Downsize your living space<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#12_pay_in_cash\" title=\"12.&nbsp;Pay in cash\">12.&nbsp;Pay in cash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#13_shop_at_grocery_stores_that_offer_discounts\" title=\"13.&nbsp;Shop at grocery stores that offer discounts\">13.&nbsp;Shop at grocery stores that offer discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#14_bulk_buy_to_get_extra_discounts\" title=\"14.&nbsp;Bulk buy to get extra discounts\">14.&nbsp;Bulk buy to get extra discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#15_use_cashback_apps_when_shopping_online\" title=\"15.&nbsp;Use cashback apps when shopping online\">15.&nbsp;Use cashback apps when shopping online<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#16_shop_second-hand_and_save_extra_money\" title=\"16.&nbsp;Shop second-hand and save extra money\">16.&nbsp;Shop second-hand and save extra money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#17_try_swapping_items_with_friends_to_get_what_you_want\" title=\"17.&nbsp;Try swapping items with friends to get what you want\">17.&nbsp;Try swapping items with friends to get what you want<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#18_dont_shop_when_youre_bored\" title=\"18.&nbsp;Don&#8217;t shop when you\u2019re bored\">18.&nbsp;Don&#8217;t shop when you\u2019re bored<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#19_save_on_fuel_by_carpooling_or_taking_public_transportation_whenever_possible\" title=\"19.&nbsp;Save on fuel by carpooling or taking public transportation whenever possible\">19.&nbsp;Save on fuel by carpooling or taking public transportation whenever possible<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#20_reduce_your_monthly_electric_bill\" title=\"20.&nbsp;Reduce your monthly electric bill\">20.&nbsp;Reduce your monthly electric bill<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#21_take_shorter_showers\" title=\"21.&nbsp;Take shorter showers\">21.&nbsp;Take shorter showers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#22_reduce_your_phone_bill\" title=\"22.&nbsp;Reduce your phone bill\">22.&nbsp;Reduce your phone bill<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#23_shop_around_for_better_loan_terms\" title=\"23.&nbsp;Shop around for better loan terms\">23.&nbsp;Shop around for better loan terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#24_look_for_better_deals_on_insurance\" title=\"24.&nbsp;Look for better deals on insurance\">24.&nbsp;Look for better deals on insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#final_words\" title=\"Final words\">Final words<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#faqs_%e2%80%93_how_to_save_money_each_month\" title=\"FAQs &#8211; how to save money each month\">FAQs &#8211; how to save money each month<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#how_much_money_should_i_save_each_month\" title=\"How much money should I save each month?\">How much money should I save each month?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#how_can_i_use_the_50-30-20_rule_to_plan_my_monthly_savings\" title=\"How can I use the 50-30-20 rule to plan my monthly savings?\">How can I use the 50-30-20 rule to plan my monthly savings?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#how_much_money_can_the_average_person_save_each_month\" title=\"How much money can the average person save each month?\">How much money can the average person save each month?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/#how_much_money_should_i_have_in_my_emergency_fund\" title=\"How much money should I have in my emergency fund?\">How much money should I have in my emergency fund?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"1-create-a-monthly-budget\"><span class=\"ez-toc-section\" id=\"1_create_a_monthly_budget\"><\/span><strong>1.&nbsp;<\/strong><strong>Create a monthly budget<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There\u2019s nothing more important than knowing where your money\u2019s going. <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/some-tips-to-help-with-budgeting-your-personal-finances\/\" target=\"_blank\" rel=\"noreferrer noopener\">Having a monthly budget will help you save money<\/a>.<\/p>\n\n\n\n<p>We\u2019ve all got monthly expenses. There are things like council tax to pay, a mortgage payment to make or energy bills to cover. You need to allocate money for these monthly bills. Then you need to work out how much you need for your less essential costs like Netflix, going out and birthdays. But only by doing a budget will you see where you can cut back.<\/p>\n\n\n\n<p><strong>Having <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-set-financial-goals\/\" target=\"_blank\" rel=\"noreferrer noopener\">savings goals<\/a> will help you allocate money into a savings account as part of your budget.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-track-your-spending\"><span class=\"ez-toc-section\" id=\"2_track_your_spending\"><\/span><strong>2.&nbsp;<\/strong><strong>Track your spending<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You may have a rough idea of how much you spend on things each month, but do you know the exact figure? It\u2019s easy to spend on the odd takeaway or coffee and snacks here and there. <strong>But it\u2019s only when you track how much you spend on things that you realise where you\u2019re overspending.<\/strong><\/p>\n\n\n\n<p>You can track your spending by keeping your receipts and adding them all up. Or you could set up a spreadsheet and enter all your spending on it. There are apps you can use that help you track your spending too. When you see where your money&#8217;s going you can change your spending habits.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3-automate-your-savings\"><span class=\"ez-toc-section\" id=\"3_automate_your_savings\"><\/span><strong>3.&nbsp;<\/strong><strong>Automate your savings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Not many of us have piggy banks anymore. With money changing hands without us handling any cash, it\u2019s easy to save money in the same way. <strong>By setting up a standing order from your bank account, you can transfer money into savings accounts every month<\/strong>. By timing it to go out when your wages go in, you\u2019ll hardly miss it.<\/p>\n\n\n\n<p>Think of it as paying yourself. You\u2019ve worked for that money, so why not put some aside for your future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4-pay-off-your-debts-quickly\"><span class=\"ez-toc-section\" id=\"4_pay_off_your_debts_quickly\"><\/span><strong>4.&nbsp;<\/strong><strong>Pay off your debts quickly<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you\u2019re paying interest on debts, it\u2019s likely to be higher than what you\u2019ll get from your savings. That\u2019s why paying off your debts comes first unless you\u2019re paying no interest. Credit card debt is where you\u2019ll find you can get a limited period which is interest free. Credit card accounts are good for transferring debt onto if you can get a promotional offer like this. But be aware that they\u2019ll charge you a transfer fee.<\/p>\n\n\n\n<p><strong>Once you&#8217;ve cleared your debts, put those monthly payments into a savings account instead.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"5-use-a-credit-card-with-rewards-or-cashback-offers\"><span class=\"ez-toc-section\" id=\"5_use_a_credit_card_with_rewards_or_cashback_offers\"><\/span><strong>5.&nbsp;<\/strong><strong>Use a credit card with rewards or cashback offers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Using a credit card that offers a reward of some kind can help you save money.&nbsp; Whether its points that you can convert into vouchers or cashback on your purchases, it\u2019s a good benefit. And it\u2019s usually free. <\/p>\n\n\n\n<p>You must remember to pay off the balance at the end of the month so that you don\u2019t build up credit card debt. But if you\u2019re going to spend the money anyway, you may as well get something back for it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6-reduce-your-mortgage-payments\"><span class=\"ez-toc-section\" id=\"6_reduce_your_mortgage_payments\"><\/span><strong>6.&nbsp;<\/strong><strong>Reduce your mortgage payments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Do you know what the interest rate is on your mortgage? If you\u2019re paying the standard variable rate, then there may be a better rate you could move to. Find out if you could be paying less. <strong>By moving onto a fixed rate, you could reduce your mortgage payment<\/strong>. And having fixed payments for a period make it easier to budget as you know what your payments are each month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"7-create-a-no-spend-day-each-week-to-save-money\"><span class=\"ez-toc-section\" id=\"7_create_a_%e2%80%9cno_spend%e2%80%9d_day_each_week_to_save_money\"><\/span><strong>7.&nbsp;<\/strong><strong>Create a \u201cno spend\u201d day each week to save money<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This is a nice challenge to set yourself. See if you can go a whole day each week without anything going out of your bank account. You may think you have loads of no spend days already but they\u2019re probably few and far between.<\/p>\n\n\n\n<p>Once you get good at this, try adding a second day. It helps you notice where you\u2019re spending unnecessarily.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"8-cut-back-on-eating-out\"><span class=\"ez-toc-section\" id=\"8_cut_back_on_eating_out\"><\/span><strong>8.&nbsp;<\/strong><strong>Cut back on eating out<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Eating out isn\u2019t just meals in restaurants, it includes the quick stops in cafes for a cuppa and a cake. Every time you eat out you\u2019re paying for more than just the coffee and the snack. You\u2019re paying for the caf\u00e9\u2019s overheads, so it costs a lot more than if you had the snack at home.<\/p>\n\n\n\n<p>If you\u2019re heading out for the day, take a flask with a hot drink in it and your own snack. You\u2019ll be surprised at how much you can save.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"9-save-money-each-month-by-planning-your-meals-in-advance\"><span class=\"ez-toc-section\" id=\"9_save_money_each_month_by_planning_your_meals_in_advance\"><\/span><strong>9.&nbsp;Save money each month by planning your meals in advance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Are you the type who just buys what you fancy on the day and doesn\u2019t plan your meals? If you live day to day, it not only ends up costing you more but you\u2019re more likely to be tempted with fast foods.<\/p>\n\n\n\n<p>Take time once a week to plan what you\u2019re going to eat each day, then put the ingredients you need on your shopping list. It not only saves you money, but it also helps you cut down on waste. When you know you\u2019ve got something planned for dinner, you\u2019re less likely to pick up a takeaway on your way home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"10-declutter-and-sell-things-you-dont-need\"><span class=\"ez-toc-section\" id=\"10_declutter_and_sell_things_you_dont_need\"><\/span><strong>10.&nbsp;Declutter and sell things you don&#8217;t need<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Many of us have homes full of things we don\u2019t need or no longer use. You only have to look through your wardrobe and you\u2019re likely to find items you don\u2019t wear. <strong>Selling your unwanted things is an easy way of giving your savings pots a boost and it doesn\u2019t take a lot of time. <\/strong>Apps like Vinted let you sell your clothes and accessories quickly and easily.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"11-downsize-your-living-space\"><span class=\"ez-toc-section\" id=\"11_downsize_your_living_space\"><\/span><strong>11.&nbsp;<\/strong><strong>Downsize your living space<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Are you living in a home with rooms that you don\u2019t live in? If you\u2019ve got extra space you don\u2019t use it makes sense to downsize. It\u2019ll not only save you money on your monthly rent, but it\u2019ll also save you money on your energy bills.<\/p>\n\n\n\n<p>If you do downsize, make sure you put the money you save straight into savings. Don\u2019t be tempted to see it as more money to spend.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"12-pay-in-cash\"><span class=\"ez-toc-section\" id=\"12_pay_in_cash\"><\/span><strong>12.&nbsp;<\/strong><strong>Pay in cash<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Paying for your shopping in cash is a good trick to <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-stop-spending-money-on-unnecessary-things\/\" target=\"_blank\" rel=\"noreferrer noopener\">stop overspending<\/a>. By leaving your cards at home and paying with cash you can\u2019t buy more even if you want to. It helps to encourage you to choose what you need rather than just adding what you fancy to your trolley. It also helps you stick to your budget as you only take the cash that you\u2019ve allocated to that spend. And this helps you achieve your savings goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"13-shop-at-grocery-stores-that-offer-discounts\"><span class=\"ez-toc-section\" id=\"13_shop_at_grocery_stores_that_offer_discounts\"><\/span><strong>13.&nbsp;<\/strong><strong>Shop at grocery stores that offer discounts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some shops offer bigger discounts than others. Before you go shopping, do the research and find out who\u2019s offering the best deals. You\u2019ll usually find that grocery stores like Aldi and Lidl are the cheapest, and their quality is good too.<\/p>\n\n\n\n<p>It might seem like you\u2019re only saving small amounts here and there. But overtime you can make some significant savings on your weekly shop.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"14-bulk-buy-to-get-extra-discounts\"><span class=\"ez-toc-section\" id=\"14_bulk_buy_to_get_extra_discounts\"><\/span><strong>14.&nbsp;<\/strong><strong>Bulk buy to get extra discounts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Buying in bulk often means you pay less per item compared to what you would pay for them individually. Items like toilet roll or tinned food often work out cheaper if you buy them in bulk. As long as you\u2019ve got somewhere to store them, it\u2019s worth doing. You can make some good savings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"15-use-cashback-apps-when-shopping-online\"><span class=\"ez-toc-section\" id=\"15_use_cashback_apps_when_shopping_online\"><\/span><strong>15.&nbsp;<\/strong><strong>Use cashback apps when shopping online<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Cashback sites are an easy way to make money for doing your shopping. This is how they work.<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li>You register on the cashback website<\/li>\n\n\n\n<li>You click through to the company you want to shop with from the cashback site<\/li>\n\n\n\n<li>If you buy anything, a cash amount is put into your account on the cashback website<\/li>\n\n\n\n<li>You can withdraw this cash into your bank account<\/li>\n<\/ol>\n\n\n\n<p><strong>The amount you can earn will depend on what you buy and how much you buy<\/strong>. But it\u2019s free money so it\u2019s worth giving it a go.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"16-shop-second-hand-and-save-extra-money\"><span class=\"ez-toc-section\" id=\"16_shop_second-hand_and_save_extra_money\"><\/span><strong>16.&nbsp;<\/strong><strong>Shop second-hand and save extra money<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Charity shopping is great if you love a bargain. You\u2019ll be surprised at how good some of the items are that go on sale in charity shops. You can find good quality labels at rock bottom prices. Just because it\u2019s second hand doesn\u2019t mean it\u2019s not good quality.<\/p>\n\n\n\n<p><strong>Look on marketplace sites for second hand furniture and other items too.<\/strong> If there\u2019s something you need but can\u2019t afford to buy it new, look at what other people are selling. You might get what you want as good as new even though it\u2019s second hand. And you\u2019ll save money in the process.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"17-try-swapping-items-with-friends-to-get-what-you-want\"><span class=\"ez-toc-section\" id=\"17_try_swapping_items_with_friends_to_get_what_you_want\"><\/span><strong>17.&nbsp;<\/strong><strong>Try swapping items with friends to get what you want<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are bound to be things that you have at home that you don\u2019t need and could swap with friends. You could organise a \u2018bring and swap\u2019 night. Someone hosts it and everyone brings items they don\u2019t want. You all get to choose what you want from all the stuff that\u2019s there. What\u2019s left over at the end of the night could be sold or given to charity. It\u2019s an easy way to get things you want while having time out with your friends.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"18-dont-shop-when-youre-bored\"><span class=\"ez-toc-section\" id=\"18_dont_shop_when_youre_bored\"><\/span><strong>18.&nbsp;<\/strong><strong>Don&#8217;t shop when you\u2019re bored<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you go browsing round shops or online just to kill time, there\u2019s a chance you\u2019ll buy for the sake of it. You might be tempted to spend on something that you wouldn\u2019t otherwise buy. If you\u2019re bored find another way of entertaining yourself. Read a book, go for a walk, call someone for a chat, just avoid the shops!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"19-save-on-fuel-by-carpooling-or-taking-public-transportation-whenever-possible\"><span class=\"ez-toc-section\" id=\"19_save_on_fuel_by_carpooling_or_taking_public_transportation_whenever_possible\"><\/span><strong>19.&nbsp;<\/strong><strong>Save on fuel by carpooling or taking public transportation whenever possible<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With the costs of fuel being so high, using your car can be costly. Find ways to save money by using it less. <strong>Share lifts with other people who are travelling to the same destination or take public transport<\/strong>. If you can get a season ticket to commute to work you may find you could manage without a car. Cars can be a big drain on your finances. If you must have one, consider changing it for one that&#8217;s cheaper to run.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"20-reduce-your-monthly-electric-bill\"><span class=\"ez-toc-section\" id=\"20_reduce_your_monthly_electric_bill\"><\/span><strong>20.&nbsp;<\/strong><strong>Reduce your monthly electric bill<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Energy costs keep rising but there are small things you can do to help bring down your electricity bill. Even better, you\u2019ll be doing your part to save the planet!<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Check you\u2019re on the best rate by switching supplier or call your current supplier to get the best deal<\/li>\n\n\n\n<li>Don\u2019t leave electrical items on standby, unplug them<\/li>\n\n\n\n<li>Don\u2019t boil more water than what you need in the kettle<\/li>\n\n\n\n<li>Wash clothes at a lower temperature<\/li>\n\n\n\n<li>Don\u2019t put the dishwasher or washing machine on unless they\u2019ve got a full load<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"21-take-shorter-showers\"><span class=\"ez-toc-section\" id=\"21_take_shorter_showers\"><\/span><strong>21.&nbsp;<\/strong><strong>Take shorter showers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Having a long shower costs money. By getting into the habit of jumping in and out quickly can save you money on your energy bill. If you\u2019ve got a water meter, it\u2019ll save you money on your water bill too. Try turning the shower off while you\u2019re soaping yourself down then turn it back on to rinse off. And challenge yourself to get it done in 4 minutes.<\/p>\n\n\n\n<p>If you use a gym, use their showers to save on your own energy bill.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"22-reduce-your-phone-bill\"><span class=\"ez-toc-section\" id=\"22_reduce_your_phone_bill\"><\/span><strong>22.&nbsp;<\/strong><strong>Reduce your phone bill<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You might think you need unlimited data on your mobile phone, but do you? When you look at how much data you use, you might be surprised that it\u2019s not as much as you think. With free Wi-Fi being offered in so many places these days, we don\u2019t need as much data as we used to.<\/p>\n\n\n\n<p>Look at how much you\u2019re paying for your mobile phone and see if you can pay less.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"23-shop-around-for-better-loan-terms\"><span class=\"ez-toc-section\" id=\"23_shop_around_for_better_loan_terms\"><\/span><strong>23.&nbsp;<\/strong><strong>Shop around for better loan terms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you need to borrow money, take time to find the best deal for you. You can save money by paying less interest. Taking out a loan to consolidate other debt is a good way of reducing your outgoings and managing your debts. But make sure the interest is lower on the new loan compared to your existing one.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"24-look-for-better-deals-on-insurance\"><span class=\"ez-toc-section\" id=\"24_look_for_better_deals_on_insurance\"><\/span><strong>24.&nbsp;<\/strong><strong>Look for better deals on insurance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Whenever you\u2019ve got an insurance policy that\u2019s up for renewal don\u2019t just accept the renewal quote. There\u2019s a good chance you\u2019ll be able to get it for less.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Call the company offering the renewal quote and ask how much they can discount it by. They\u2019ll usually be able to reduce it.<\/li>\n\n\n\n<li>Shop around. There are a few comparison websites you can use or go direct to other insurance companies. It\u2019s worth doing as you could save \u00a350 or \u00a3100 on some insurance quotes.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final-words\"><span class=\"ez-toc-section\" id=\"final_words\"><\/span><strong>Final words<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Saving money is often something we don\u2019t give a lot of thought to. Unless there\u2019s something specific we want to save for, it\u2019s easy to just spend all our money on what we want now. But saving is a good habit to get into, and having savings goals will help. Set up saving accounts and label them with what you want to save for. It could be for an emergency fund, for a holiday or for your when you retire. But having money in savings accounts will give you a sense of security. And it\u2019s something your future self will thank you for.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fa-qs-how-to-save-money-each-month\"><span class=\"ez-toc-section\" id=\"faqs_%e2%80%93_how_to_save_money_each_month\"><\/span><strong>FAQs &#8211; how to save money each month<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1680607590125\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how_much_money_should_i_save_each_month\"><\/span><strong>How much money should I save each month?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>If you want to save money, an ideal amount would be around 30% of your disposable income each month. If you work out your budget and find you can\u2019t afford to save that much, don\u2019t give up. It\u2019s still worth trying to start saving money. Even a small amount put into savings each month will add up over time.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1680607679797\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how_can_i_use_the_50-30-20_rule_to_plan_my_monthly_savings\"><\/span><strong>How can I use the 50-30-20 rule to plan my monthly savings?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The 50-30-20 rule is where you put 50% of your income to cover essential monthly bills. 30% goes towards non-essential things like Netflix and eating out. 20% goes into savings. By working it out in percentage terms, if <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/5-simple-ways-help-boost-income\/\">your income goes up<\/a> the amount you save goes up too.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1680607690318\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how_much_money_can_the_average_person_save_each_month\"><\/span><strong>How much money can the average person save each month?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>According to Nimblefins, 50% of people in the UK save over \u00a3180 each month, 50% save less than this. How much you save will depend on your circumstances but using our money saving tips will help.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1680607698908\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how_much_money_should_i_have_in_my_emergency_fund\"><\/span><strong>How much money should I have in my emergency fund?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>It\u2019s up to you to decide how much money you should have in your emergency fund. But as a minimum you should aim to have three months\u2019 salary. For example, if you have a net income of \u00a31200 per month, you should aim for \u00a33,600 in your emergency fund.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><strong>Disclaimer:<\/strong> The information given above is provided for reference only. This is not financial advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you want to know how to save money each month? Saving money should be included as part of your monthly expenses. It can help you build an emergency fund, pay off debt faster, and begin investing for the future. But saving money each month isn\u2019t always easy. Especially when it feels like there\u2019s no [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":27220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,139],"tags":[],"class_list":["post-27217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-money"],"_links":{"self":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27217"}],"collection":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=27217"}],"version-history":[{"count":6,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27217\/revisions"}],"predecessor-version":[{"id":27245,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27217\/revisions\/27245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media\/27220"}],"wp:attachment":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=27217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=27217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=27217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}