A new year means a new opportunity to start saving!
Has the festive season drained your budget? Are you looking to run your financial affairs the right way this year? A new year brings with it the opportunity to kick-start your savings plan from the get-go!
We have put our heads together to come up with five of the easiest money-saving tips for 2022 – so read on to find out more.
1. Take the New Year money saving challenge.
Wanting to save money is easy, but actually doing it is much more difficult. Fortunately, savings challenges can make saving not only easier, but also fun.
Our favourite way to save in January is introducing a 1p Saving Challenge which, as the name suggests, starts with you putting away a solitary penny. On the second day, you put away 2p, on the third day, 3p, and so on. By day 365, when you are stashing away £3.65, you will have saved a total of £667.95 (or £671.61 by day 366 in a leap year)!
Although you can technically start the challenge at any time of the year, the fact that it takes a whole year means that it is best used as a New Year’s resolution.
2. Have a clear-out and sell your unused belongings
January is the perfect time to have a look through your things to find anything you no longer use or wear and sell them. This way, you will not only declutter your home you will also earn some money from it, which you can add to your savings account.
3. Compare your bills
Spend an evening comparing the cost of your gas or electricity and you could save hundreds by moving to a better deal.
Switching is simple and free – just make sure you are not tied into a contract with exit fees (although the savings on a cheaper deal can sometimes still outweigh the cost of leaving your current provider).
Quickly find out what you can save right now at https://www.energyhelpline.com/.
4. Get cash back on almost anything
Every time you shop online, get some of your money back by learning how to use cashback sites.
5. Cancel unnecessary commitments
Have a look at the monthly subscriptions that come off your bank account each month. Do you really need 3 live-streaming services, those magazines that you intend to read “one day”, but never get around to? Each subscription on its own is not noticeable but add them up and you could find yourself savings over £30 a month just by unsubscribing!