For loads of us, the festive season was really expensive and (with cost of living going up) 2023 doesn’t look like it’s going to be any lighter on the pocket. It’s no wonder that ‘staying on top of finances’ ranks so highly as a New Year’s resolution! However, tightening the purse strings doesn’t necessarily mean you need to drastically change your lifestyle. Nor does it mean you have to immediately stop going to the places or doing the things you enjoy.
All it takes is a little planning and organisation, and you’ll be amazed at how much money you’ll save. And a few apps will help you on your way.
Here are a few things you can do to save this year…
Always set a budget
Whether you’re doing a weekly shop, an evening out or even off on holiday, always know how much you want to spend and stick to it. Those spontaneous purchases soon add up. Setting a realistic budget you know you can stick to will get you one step closer to your savings goals.
The good news is that you can leave your calculator at home. Apps like Moneybox put all your savings accounts and ISAs into one place that’s easy to track, while both Monzo and Revolut have some incredibly innovative saving features that do all the hard work.
Any time you spend money, the transaction is placed into categories like Entertainment, Groceries, Eating Out and Transport, so you get a detailed breakdown of how much you’re spending on certain things. Not only do you know where your money’s going, but you can use that info to adjust your spending in other areas, instead of cutting back on everything across the board.
Monzo’s standout saving feature is Monzo Pots. You can create a Pot to start saving for a specific thing like a holiday, house deposit or even monthly bills. Then you can lock your Pot so you’re not tempted to dip in and then unlock the pot when the time comes. You can even set it up so that any spare change left over from transactions goes straight into it. The change from those morning lattes could end up funding your next holiday!
Save with plug-ins
Just because you’re on a money saving mission, doesn’t mean you need to stop buying the things you need online. Keeping an eye out for discount and promo codes online means that you can get a bargain on those must-have shoes or that stylish coat. Sites like Vouchercodes and Hot UK Deals have always got brilliant offers, so check back every now and then or sign up for mail alerts.
Better yet, a great plug-in or browser extension does all the hard work for you. It knows when you’re on a particular retailer’s website and gives you a list of promo codes that may apply to your order. Download Pouch on your Google Chrome browser, and you’ll get stacks of codes ready to use whenever you fancy a takeaway or buy anything online.
Or, if you don’t fancy combing through all the discount codes one by one, go for Honey. It automatically applies each code to your basket for you to see if any apply. If they do, you’ll instantly see your order total drop. Get deals that are even better than the offers you see advertised!
Get money back on every shop
Earning money for shopping online sounds too good to be true, but it’s actually possible! Sites like Top Cashback and Quidco let you can earn money from the purchases you make when you’re shopping online.
All you have to do is sign up on the website and then start shopping. When you order something, the cashback site receives a commission from the sale and they then share a portion of that with you! There’s a whole host of shops you’ll be familiar with that are signed up, so you’re able to get money back on loads of purchases you make.
Credit cards aren’t for everybody, but some (like American Express) offer all kinds of rewards – from cash back on every spend to discounts. And banks like Chase also let you earn cash back on every transaction.
Answer surveys
Love to tweet or give your take on the news, different products and brands? Why not get paid to do it! Did you know you can get paid to fill in online surveys and give your opinion on a variety of things?
Some free survey websites will reward you with things like Google Play Store credit or Love2Shop vouchers, while others, like Crowdology, give you a choice between cash via PayPal or Amazon gift cards. And they’ll pay you up to £10 for every survey you complete!
Getting started takes a matter of moments. Just register on a survey site (there are loads) and wait for new surveys to get sent to your email inbox. Once they arrive, fill them in and start reaping the rewards. Don’t worry, you won’t be answering the same questions again and again. They can be about anything, from movies to video games, news to sport. Get involved!
Those are just a few of our suggestions on how to save and spend savvier in 2023. There are plenty of things you can do to make sure you’re on top of finances, but the best thing you can do to get started is to check your balance at regular intervals. That way, you’ll know exactly how much is going in and out of your accounts.
Have you got any tips or fave apps of your own for saving money in 2023? Don’t keep them to yourself, share them with the Community in the comments below.
