20 things you should do to save money (2024)

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In this fast paced life we lead where it feels like everyone is trying to extract money from us for something, every little thing we can do to save money as a mum is worth doing in my book. So I’ve put together a round up of 20 things you should and can do to save money from fellow bloggers – some might be things you are aware of but perhaps haven’t been proactive enough to do, and some might be totally new to you! Either way, I hope all these suggestions – which are all very easy to do – help you to save money:

Contents hide

1Switch energy suppliers

2Meal plan

3Set up a direct debit for savings

4Detox your payments

6Shop online

7Use voucher sites

8Use cash

9Make mindful purchases

10Use cash back sites

11Track your outgoings

12Do a daily account skim

13Max out on points cards

14Know your freebies

16Bulk buy

17Skip the travel agents

18Avoid the sales

19Barter

20Always check if it’s on ebay first

20.1Related

Switch energy suppliers

Switch energy suppliers annually, or at least check to make sure you are getting the best deal! I just switched and saved myself £298!!! – Real Mum Review

Meal plan

That way you’re never tempted by “offers” and you buy exactly what you need for the week so you don’t have to do a dreaded midweek shop where you then inevitably come out with more stuff that you don’t actually need. – Mummy Burgess

Set up a direct debit for savings

Set up a direct debit to pay into a savings account at the start of each month. Even if it’s only £20, it soon starts to add up and if it goes out with all your other bills, you don’t miss it! – Devon Mama

Detox your payments

Check bank statements for payments that are still coming out that are no longer valid. I didn’t realise I was still paying for Kindle Unlimited for over a year. They refunded it all as they could see it hadn’t been used. – Country Heart and Home

Shop at charity shops

Shop at charity shops for kids clothes and toys. It really makes a difference to buying new. – Scandi Mummy

Shop online

Do all your food shopping online, you’ll save a fortune by refraining from all those treats that you would add to your shopping trolley if you went to the supermarket – The Pramshed

Use voucher sites

Use voucher codes from sites like dealsplanet for online purchases! You can make some great savings across clothing, accessories, shoes, home decor, furniture, pet supplies and more. – Five Little Doves

Use cash

Use cash for day to day spending, you’re less likely to add a muffin with your coffee when paying in cash. – Dancing in My Wellies

Make mindful purchases

Think about what you really need to buy. What do you not need? Thinking about what can you reuse first can save you money and also help save the planet. – My Boys Club

Use cash back sites

Use cashback sites every time you make an online purchase (especially when you renew insurance or switch energy suppliers) and set your debit card up with them to do that you can earn cash back in certain shops when you spend. The amount you get back really adds up and you would have been making the purchases anyway! I’ve had over £200 cashback from purchases in the last six months alone. – My Mummy’s Pennies

Save

Track your outgoings

Have a monthly spreadsheet where you record all our known outgoings – it really helps you assess how much spare income you have left to save or spend so that you don’t overspend! – 3 Little Ladies and Me

Do a daily account skim

Each day check your online banking and tidy it up. So, if you had £217.23 in your current account, then you’d transfer the £7.23 into savings. Adds up fast! – The Frugal Cottage

Max out on points cards

Sign up for points cards to all the places you shop at. Think Tesco Clubcard, Boots points etc. I’ve got over £100 now in points to use which will massively help out come Christmas time. – Then There Were Three

Know your freebies

There are apps that have loads of good offers and even free stuff. O2 Priority if you’re with O2, Wuntu if you’re with Three, FreePrints allows you to print 45 free photos each month. There’s also cash-back apps like Shopmiumand Checkout Smart that sometimes offer free products too. Finally, if you have time and love to eat out, maybe consider joining a mystery shopper programme where you can dine for half the price or free. – My Everything Beautiful

Batch cook

Batch cook meals – this saves you buying Ingredients and meals you don’t need as you then have a load in the freezer. Chilli, lasagne, stews, casseroles, curry’s and soups are so handy to have in. You can also freeze slow cooker meal ingredients together and label them so you know you can just bung them in the slow cooker and have a chilli ready for when you get home! – Ready Freddie Go

Bulk buy

Bulk buy essentials like toilet roll when they’re on offer. You know you’re going to use them and it helps save funds in the long run. – Devon Mama

Skip the travel agents

Travelling can be expensive but if you arrange holidays yourself instead of using agents you will save a fortune, check out Skyscanner and Momondo to get the best prices on flights, with Skyscanner you can choose your airport and then click everywhereto get some inspiration and the cheapest upcoming destinations for your time slot, you never know just what an amazing destination you might discover. – Mandy Charlton Photography Blog

Avoid the sales

Don’t buy in sales unless you really need it, a discount isn’t a bargain if it’s something you don’t need! – Are Pops

Barter

Try to lower existing contracts such as Sky packages. Barter for better deals on car lease. I saved £50 per month by doing so! – Sticky Mud and Belly Laughs

Always check if it’s on ebay first

If I need to buy something, I always head over to ebay to see if I can find it for cheaper first. Even if you’re not bidding and buying now instead you can get things at a fraction of the price. Check out this guide to finding bargains on ebay. – Motherhood: The Real Deal

Of course, we all do our best to save money but for those times when you need a little extra helping hand you can alsocompare loan terms as an option.

What do you think of these money saving tips above? Do you already do some of these? Or perhaps you have some of your own money saving tips to offer? Do leave a comment and share. And if you found this useful you can check out more money saving tips from me here .You might also find this post about why you need a financial emergency fund and tips for starting one useful.

This post was featured byTwinklin theirCost of Living Crisis blog

Related

20 things you should do to save money (2024)

FAQs

What is the 20 savings rule? ›

Key Takeaways. The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

What is the 10 rule for saving money? ›

The 10% rule of investing states that you must save 10% of your income in order to maintain a comfortable lifestyle during retirement. This strategy, of course, isn't meant for everyone as it doesn't account for age, needs, lifestyle, and location.

What should I have saved by 20? ›

Financial experts typically recommend saving up three to six months' worth of necessary expenses in order to have a healthy, fully-funded emergency account. So, there's no specific number that a person in their twenties needs to have in their emergency fund — it should be based on their necessary monthly expenses.

How can I save $20 a day? ›

20 Tips to Save $20 a Day
  1. #1: Cut your cable costs. ...
  2. #2: Make your home more energy efficient. ...
  3. #3: Make your car more energy efficient. ...
  4. #4: Slash your dry cleaning bill. ...
  5. #5: Eat out less—or hack dining out. ...
  6. #6: Start a garden. ...
  7. #7: Book your next vacation or business trip on AirBnB.com. ...
  8. #8: Automate your savings.

What is the 7 rule for savings? ›

The seven percent savings rule provides a simple yet powerful guideline—save seven percent of your gross income before any taxes or other deductions come out of your paycheck. Saving at this level can help you make continuous progress towards your financial goals through the inevitable ups and downs of life.

What's the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 15 savings rule? ›

How about this instead—the 50/15/5 rule? It's our simple guideline for saving and spending: Aim to allocate no more than 50% of take-home pay to essential expenses, save 15% of pretax income for retirement savings, and keep 5% of take-home pay for short-term savings.

What is the 30 rule for money? ›

The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it's right for you.

What is the rule of 30 a better way to save? ›

The Rule of 30 says that you should aim to save 30% of your gross income, minus mortgage or rent payments, and minus extraordinary short-term expenses, like childcare costs. The result is a variable approach to saving, rather than a fixed percentage each year.

Is saving $1,500 a month good? ›

Saving $1,500 per month may be a good amount if it's feasible. In general, save as much as you can to reach your goals, whether that's $50 or $1,500. You could speak with a certified financial planner to help develop a plan for your finances if you aren't sure how much money to save regularly.

How much you should save by age? ›

Fast answer: Rule of thumb: Have 1x your annual income saved by age 30, 3x by 40, and so on. See chart below. The sooner you start saving for retirement, the longer you have to take advantage of the power of compound interest.

How much money should I save a month? ›

How much should you save each month? For many people, the 50/30/20 rule is a great way to split up monthly income. This budgeting rule states that you should allocate 50 percent of your monthly income for essentials (such as housing, groceries and gas), 30 percent for wants and 20 percent for savings.

Is it good to save $1 a day? ›

Over the same period of time, that one dollar a day will earn $6690 in interest over 30 years and you'll end up with $17,492. If you manage to secure a 5% interest rate, your 30 years of adding one dollar a day will earn you $14,186 in interest, with the end result tallying $24,989.

How can I save $1000 fast? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

How much is $1 dollar a day for a year? ›

If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.

What is the 70 20 10 rule for savings? ›

The 70-20-10 budget formula divides your after-tax income into three buckets: 70% for living expenses, 20% for savings and debt, and 10% for additional savings and donations. By allocating your available income into these three distinct categories, you can better manage your money on a daily basis.

Is saving 20% of income realistic? ›

The 20% rule is a good general guide, but it isn't the right fit for everyone. Some people can save above that rate, while others merely struggle to make ends meet. “Some people pay their rent and they have nothing left.

Is saving 20% realistic? ›

Stash 20% of your money for savings

Consistently putting aside 20% of your pay each month can help you build a better, more durable savings plan. This is true whether your ultimate goal is building an emergency fund, developing a long-term personal financial plan, or even preparing for a down payment on a house.

Does 401k count as 20% savings? ›

A 401(k) can count as savings in a 50/30/20 budget plan. But if 401(k) contributions are automatically deducted from your paycheck, they're not included in your take-home pay calculation.

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