Saving money is something we should all be doing, regardless of how much we have coming in. If we are going to derive no value from spending, it is likely going to be wasteful. There are many guides online as to how to save money, but most discuss the same techniques of finding vouchers and eating less in restaurants.
When you have exhausted all of the techniques that are recommended to money saving beginners, you need to begin to find extra ways to increase the amount you save.
Here are some techniques that go beyond the typical tips like shopping around to get the best price, stopping buying coffee at Starbucks, packing your own lunch, and using promotional offers to save money.
Stoozing is the name given to a process where you churn credit cards to take advantage of promotional offers. It is a money saving technique that should only be attempted by those that are disciplined and who have a good credit rating. If you are careless and accidentally miss a payment date you could incur additional charges that will negate any money you have saved.
The two main promotional offers you can take advantage of are: 0% interest promotional offers and cashback. The first one is a period in which you will not pay interest on the money you borrow from the credit card, while the second is a rebate you receive on any spending you put on the card.
0% promotional cards can be used to put your day to day spending on, pay the minimum repayments and then keep the cash in a savings account that earns interest. Cashback offers allow you to just earn a percentage back on everything you buy.
If used properly, both methods can be a great way to save a little extra money on your day to day spending. It should only ever be used for spending you would make regardless of having the offer though. There are also calculators available online to help you decide if you feel it is worth you time. If you are unsure though, it’s best to steer clear, or seek professional advice.
Save Money on Driving
Driving is a very expensive endeavour. While you may have already compared your insurance quotes and looked to cut down on your journeys, you can still save money on the journeys you do make.
When you’re out and about driving, taking a slow and steady approach will help you save on fuel. By accelerating more slowly, not driving above the speed limits, and decelerating earlier you can help to reduce your fuel consumption (and therefore spending) by as much as 20%. If you spend £50 a week at the pump, this means a £520 a year saving.
Another handy trick is to check online for the prices of car parks before you set off; then you won’t have the stress of finding a car park which can result in you leaving your car in a more expensive place.
Regrow Vegetables from Scraps
Vegetables that you have been bought from a supermarket can be regrown and used again. This means that you can get at least one more portion out of them, although sometimes it is more. You may need to plant the vegetables in soil, or it may be possible to just place them in water. You don’t even need a garden; most can be grown inside your house or apartment.
Some vegetables that can be regrown include:
- Green or spring onions: chop the bottom part with the roots off and place in a small amount of water. You can replant in soil later if you wish.
- Celery: take an inch or two from the base and place it in water with plenty of sunlight. Transfer it to soil a week or so after new leaves begin to sprout
- Leeks: do the same as green onions, put you will need around two inches of plant left. They may also take a little longer to regrow
- Onions: new green or spring onions can be grown from an onion bulb (a white/red onion). Just place it in soil and water it occasionally so that the soil remains moist. When the green sprouts have grown long enough, cut them off and wait for more to regrow.
It may also be possible to regrow a pineapple, but this is much more difficult, so should be kept for those with a little more experience.
There are endless ways that we can save money. Some will work better for some people, while others will not. You will therefore need to keep trying the different options to see what works for you. While each individual technique may only yield a small saving, they will all add up over time.