Money Saving Tips: 30 Savviest Ways To Help You Save Money, Time & Energy (2024)

We’ve put together some of our best money saving tips and savviest ways to help you save time and money.

Saving money can be a challenging task for anyone, especially for us women who have too many demands on our time and constantly juggling conflicting priorities.

However, we must remember that saving money is an important part of becoming financially stable, and in these tough times, there are numerous ways that you can manage your money and cut costs without drastically altering your lifestyle.

As the saying goes, “time is money” and “money is energy”. We’ve put together some of our top money saving tips and savviest ways to help you save money, time and energy, so you can have more time and energy to make and save more money.

33 Proven Money Saving Tips To Save More Money

1. Create a Spending Plan

Financial success begins with creating a spending plan you can stick to. Life can be so busy and it is easy to lose track if we are not focused on our financial goals. Therefore, it is so important to have a plan in place for your money.

Take the time to sit down and actually write out a budget or spending plan. When you see your finances in black and white, you may be pleasantly surprised by how much money you really have – or you may realise that you’ve been spending more than you need to.

There is no right or wrong way to budget your money. The most important thing is that you choose a personal budgeting method that suits your lifestyle.

And don’t forget, every month is different, so be sure to review your budget regularly and make any necessary changes.

Here are a few resources to help you get started with budgeting:

How to Create A Budget and Stick To It in 5 Easy Steps
How to Create a Spending Plan That’s in Alignment with Your Values

Financial success begins with creating a spending plan you can stick to.Click To Tweet

2.Set Smart, Exciting and Realistic Goals that Inspire Success

Financial goals are those things you want to have, do and experience that cost money. They help you direct your time, money and energy in turning your dreams into reality so you don’t get caught up in the day-to-day expenses.

Whether you want to buy your own property, start your own business, build wealth, travel around the world or simply have some savings in the bank, the first step is to set clear, inspiring financial goals and then put them into action.

A brilliant plan without action is fruitless, so create an action plan to take you from where you are to where you want to go.

Make your goals specific and measurable because vague goals produce vague results and specific goals tap into the power of your subconscious.

For example:By the 31st of December 2018, I will have invested £3,000 by investing £250 each month.

Related: 7 Reasons You Need to Set Financial Goals

Make your goals specific and measurable because vague goals produce vague results.Click To Tweet

3. Pay Yourself First and Make It Automatic

This is the quickest way to protect your money from frivolous expenses and save. When you get your salary, pay yourself before paying any bill or expense. Open a separate bank account and deposit this money.

You will receive great pieces of money advice in this post. However, if you only take one piece of advice on board, I hope it will be this one: Make sure you pay yourself first.

Nothing will help you build wealth or achieve your financial goals until you decide to pay yourself first. Nothing! Not even the best book on personal finance, this blog, a motivational speaker or a get rich quick scheme.

Truly, I have been there. And when I discovered this method to financial freedom, my financial situation began to change.

A great way to pay yourself first is through automatic savings. Set up a standing order to put some of your income in a savings or investment account as soon as you get paid. Then you can forget about it while it accrues interest for you.

Start small and start today. I started saving just £5 and then gradually increased that amount in due course. Over time, it will become a habit.

Related: One Piece of Personal Finance Advice Every Woman Ought to Know

If you only take one piece of advice on board, I hope it will be this one: Make sure you pay yourself first. Click To Tweet

4. Pay Your Bills on Time and Save Money

Do not build up interest charges for late payments. Paying your bills on time will help you save money from unnecessary fees.

The best way to avoid late payments is to set up direct debits so that your bills are automatically paid when they are due. Many companies offer discounts for direct debit payments, especially when paid annually.

Download our FREE personal financial planner to help you track and achieve your financial goals..

5. Start Saving and Investing Today

The best time to start saving and investing is now. If you are not investing, you are wasting a tremendous opportunity to save and grow your money so that your money can look after you in the long term.

If you normally spend whatever is in your bank account, and are too lazy or disorganised to save, try the Plum app for a few weeks and watch your savings add up effortlessly. Check out our Plum review here.

One money saving tip that could change your finances is this:

If you hate saving, I want you to adopt the mentality that money is a seed that needs to be planted and grown into a tree that you can nest in the future.

Henceforth, focus on how you can grow your savings (seeds) through investing. If you learn how to invest and see your money growing, saving will soon become a habit rather than a chore.

Did you know that you could start a regular savings plan from as little as £50, or with Fidelity. No money to invest? No problem.

Even if you don’t have a lot of money to put away, there are awesome Robo advisory companies where you can start investing with as little as £1.

Wealthsimple offers a flexible investment solution with no minimum amount. So yes, that means you may enter the investment arena with just £1.

If you want to invest in individual companies, simply put your money into a savings account, research and learn more about investing; when the market crashes, voila! The shares go on sale and your little savings will buy more shares.

Furthermore, you can save money on your investments by buying passive investment funds rather than active funds.

6. Protect Yourself Against Identity Fraud

Don’t fall victim to identity fraud. The time taken to resolve these issues can be very stressful, time-consuming and better spent managing and growing your money.

Identity fraud is when someone uses your personal details such as your name, National Insurance (NI), or your credit and debit card details without your approval.How can I protect myself from identity fraud? Here are a few tips to help you get started:

Shred everything containing your personal information
Keep important documents such as birth certificates and passports in safe places and do not carry them around unless you absolutely have to
Avoid sharing too much information about yourself on social media
Avoid using public computers and WI-FI
Monitor your bank statements on a regular basis
If you suspect your identity has been compromised, report fraud quickly to ensure you get your money back.

Related: How to Protect Yourself and Your Money from a Cyber Attack

7. Become a Mindful and Savvy Spender

Beware of little expenses as they all add up over time. Unconscious spending is one of the reasons many of us never become rich and it could be the very thing hindering your financial progress.

With just a little planning and self-awareness, you can transform your relationship with money and become a savvy spender.

Here are a few things to help you become smarter with your money:

Make a shopping list before you go shopping
Align your spending with your true values
Look out for deals for the things you really want
Spend cash instead of credit
Eliminate or reduce expensive habits and hobbies
Review and adjust your budgets regularly
Don’t shop for fun or buy on impulse
Stay away from trendy fashion; stick with the basics and accessorise with the latest trends if you must
To stick with your spending plan, set aside money for fun stuff
Cancel gym memberships and go for pay as you go options if possible
Do not insist on only buying branded products, in most cases, they cost more than non-branded products for the same quality.
Never go shopping whilst hungry! Everything looks tantalising on an empty stomach
Swap or buy second-hand books rather than new ones
Consider alternative means of transport. For example, you could cycle or walk to work instead of driving
If your bank balance is in red, look for ways to boost your income or cut costs.

Just by being more aware of your outgoings, you can save some extra cash towards achieving your financial goals.

Unconscious spending is one of the reasons many of us never become rich.Click To Tweet

8. Track Your Expenses

What you track increases and what you ignore dwindles. One of the quickest ways to save money is by tracking your expenses.

By simply tracking and paying attention to where your money is going, you will be amazed by how much you will save and you can start looking out for opportunities where your money could be better spent.

In addition, by keeping an eye on what you’re spending, you can spend without worrying because you know the important stuff is taken care of.

By simply tracking and paying attention to where your money is going, you will be amazed by how much you will save Click To Tweet

9. Au Revoir, Costa

Hey, we’re all guilty of trying to give our sluggish morning selves a boost with a convenient caffeine fix, but a simple and rather unflashy Costa Americano will set you back almost £2.

For £4, you can buy yourself a pot of Millicano that makes over 40 cups, and make yourself a quick cup to drink on your way to work. Treat yourself to a stylish portable coffee cup and start saving!

10. Swap Your Stuff

The temptation to replace your wardrobe every time an event comes around can be overwhelming, but in reality, there are lots of lovely outfits in your possession.

If nothing you own tickles your fancy anymore, then how about hosting a clothes swap night?

You’ll be surprised at how many friends think your trash is their treasure, and you’re bound to nab yourself a new, trendy outfit you love in exchange for something you never would have worn again.

If you’re going to a special event, why not rent a dress rather than buy one?Sites such as girlmeetsdress.com and www.vinted.co.uk allow you to sell your own clothes and then buy or swap with others.

Alternatively, www.uk.freecycle.org is a great place to search for free items and get rid of unwanted stuff of your own.

Related: How to Look Good for Less

11. Get the Girls Round

Social occasions can be a real drain on your financial resources if you are not careful – when you include a new outfit (unless you’re swapping, of course), drinks, dinner, etc. – so try and avoid going out and stay in instead.

Staying in doesn’t have to mean doing nothing though, so get the girls round and make a night of it! You can host:

a movie night and ask everyone to bring a DVD and a snack
a spa day or night with face masks, manicures, and gossip
a tapas night where everyone brings a dish
a co*cktail evening where everyone brings a bottle

Social occasions can be a real drain on your financial resources if you are not careful.Click To Tweet

12. Start a Well-Done Jar

Think of all the times you’ve splurged on something you didn’t need, never wore, or regretted the week after.

The solution? Start a jar! If you’re tempted to buy something, put the money for it into a jar and wait a week. If in a week you still can’t live without it, get it.

If seven days of thoughtful consideration leaves you no longer longing, keep that money in the jar and let it build up. Don’t forget to give yourself a well-done pat on the back!

If you believe a jar is too old-fashioned or inconvenient, set up a savings account or secondary bank account with the same purpose and simply transfer that money over.

13. Don’t Forget the Pennies

If you’ve got an old jar or piggy bank, place it somewhere prominent in the house and drop your spare change into it.

All of us have small change lying around. If you put it in your wallet, you tend to spend it on fripperies — chocolate, magazines, lottery tickets, etc.

Instead, get into the habit of taking any change out of your purse at the end of each day and put it into a money box or coin jar. Even adding just £5 of change per week equals £260 a year.

14. Wait for Just One Day

One of the best money saving tips I have ever received is to wait a day before making an unplanned purchase. When you find yourself considering a significant purchase, investment, or other financial expenditure, walk away and get out your notebook.

Make two columns – one “Pro” and one “Con” – assigning everything you can think of about your potential decision to one of the columns. Be sure to include emotional comments like how it makes you feel.

The following day, review your list.

You’ll gain insight into what your motivation is and be better equipped to determine whether or not you’re making a financial choice from an emotional place.

15. Have an Emergency Fund

Emergency funds are an absolute necessity!An emergency fund can help you prevent financial disaster and free you from the perils of unexpected emergencies and expenditure.

16.Educate Yourself About Money

Financial literacy is key to financial success. It helps you make smart financial decisions about spending and investing.

Financial ignorance can lead to very poor and costly financial decisions. Educating yourself about money will save you years of expensive money mistakes in the long term.

Life is short. Don’t be lazy about educating yourself. Beware, procrastination is one of the biggest roadblocks to financial independence.

Be proactive with your financial life by taking the necessary steps to learn about money. Hire a financial planner if you need one and make sure you continue to invest in yourself and in your financial future.

Don’t try to learn everything at once. First, identify one area of personal finance you would like to understand and learn about it until you are confident in that area.

Commute time is one of my favourite times to listen to podcasts and read books about money.Whilst you’re here, add us to your inbox and receive our regular tips and advice on being money savvy!

Beware, procrastination is one of the biggest roadblocks to financial independence.Click To Tweet

17. Get Some Professional Advice

If you aren’t into self-education or have a complex financial situation, why not get some structured financial advice from a professional and learn some investing and expert money saving tips in the process?

An outsider can sometimes help you put your financial worries into perspective.

There are great money experts who can help you with a tailored plan that suits your finances and your life. Check out our handy guide on how to choose a Financial Advisor.

18. Round Up Your Spending

How can you round up what you spend but still be saving money?

It sounds counterintuitive! But the designers of the Moneybox app have realised that the best way to make us save is when we’re already spending.

The app automatically rounds each payment you make up to the nearest pound, and then invests the spare change via a tracker fund. So, every time you buy a coffee for £3.20, you’ll be saving money as the additional £0.80 will go straight into your investment account.

Related: 5 Personal Finance Apps to Track, Save and Invest

19. Negotiate! Everything is Negotiable

Women are notoriously poor at haggling and it’s something we rarely do.

But the reality is that everything is negotiable and plenty of companies are able and willing to give you a discount on what you buy: all you have to do is ask! It doesn’t hurt to ask and you never know—they may just grant your request!

Plan ahead, ask for a pay rise, work out how much you can get off the ticket price, and put the pennies you would otherwise have spent into your savings account.

Related: How to Confidently Ask for More Money or a Promotion

20. Don’t Do False Economy

What is false economy? False economy is simply buying or paying for something that costs less in an attempt to save money but results in more money being spent over time.

For example, buying cheap shoes or cars can be a false economy. The car is twice as likely to break down and cost you more money.

Avoid false economies at all costs. I have fallen prey to this way of spending and it has cost me dearly.

For example, I have fallen prey to Multi-buy, trying to save money by not having an insurance, buying cheap clothes, shoes and a cheap car in an attempt to save money, but in the end, I paid twice as much.

21. Limit Eating Out

Eating out every so often adds up very quickly. It’s cheaper and healthier to eat in, so avoid costly restaurants by cooking for yourself.

If you enjoy concocting recipes in the kitchen, invite friends over to sample your meals, you get a night out while being in.

Related: Be a Smart-luncher to Save Cash and Stay Healthy

22. Love Your Freezer

A decent-sized freezer is a savvy spender’s friend. You can freeze almost anything, from chocolate to cheese and bread to bananas.

It means you have a constant supply of food that just needs taking out in the morning to defrost. Relying on your freezer can stop that expensive mid-week trip to the convenience store; it just takes a little organisation.

23. Switch Suppliers and Save Big.

Cancel the things you don’t need anymore and then get yourself onto a comparison site such as USwitch or Money Supermarket and start switching to save. Look at:

Electricity and gas
Insurance (car, pet, home)
Phone (landline and mobile) and broadband
TV package
Credit cards: You can’t switch to save but you can balance transfer.

Can you get a better deal on these things? You could save hundreds in the time it takes you to sort out a cupboard.

24. Ditch Store Cards

Paying for things on store cards is a risky business. If you can’t pay the money back quickly, the interest rates can be eye-watering. Our advice? Resist the initial allure of an introductory discount and avoid it at all costs.

You must beware; a store card is a form of debt. Store cards tend to charge a higher interest rate (APR) than credit cards, and are thus one of the most expensive ways to borrow money.

Related: The Complete Guide to Store Cards

25. Avoid Bad Debt

What is bad debt? Bad debt is any debt you have incurred or are incurring that is not making you any money. Bad debt can cause money worries and sap the energy to make and attract money.

Just because you can afford loan repayments, doesn’t mean that you should buy something beyond your means.

Taking credit in order to buy a big-ticket item usually means you end up paying more than it’s worth, taking into account the added interest, and it ties you into the expenditure for years to come.

And don’t forget that debt stops you from financial progress and hinders your ability to build long-term financial security. Likewise, always pay your credit card in full, otherwise, compound interest works for the lender and not you.

In debt? Learn how to pay off debt fast and turn your financial situation around with our simple step-by-step guide! The very same system I used in getting out of £32k of debt in 24 months.

26. Stop Buying Things You Don’t Need

One of the most obvious ways to spend less is to cut out any unnecessary purchases. It isn’t always easy, but you don’t have to give up every little luxury.

Start by cutting out anything you don’t really use. If your busy life means you don’t have time to watch TV, then you don’t need a cable subscription! Simply go to Netflix and download shows when you want to.

Do you really need to subscribe to the Italian Vogue magazine? You can simply visit their website for the same information. Don’t waste your money on things you don’t need, use or you’ve almost forgotten about.

Don’t waste your money on things you don’t need, use or you’ve almost forgotten about. Click To Tweet

Related: Don’t Let Your Emotions Wreck Your Budget

27. Budget for Fun and One-off Payments

The key to financial success is to not go overboard… or be too restricting! If you stop spending money, then you’re likely to splurge when it all overwhelms you.

Don’t be afraid to reward yourself with a small treat or the occasional purchase, but make sure that your bank balance is going up rather than down.

Always budget for one-off payments. One-off payments, if not planned for, have the tendency to derail your financial goals and cause you to dip into your savings.

28. Give Yourself a Pay Rise Doing What You Love

Give yourself a pay rise by exploring alternative ways to increase your income. Is there something you love doing, like arranging flowers, designing dresses, or writing?

Consider taking up a part-time job at a flower shop, a designer boutique, or starting a blog. It’ll still be your hobby, but you’ll get paid for it.

29. Rent Out a Spare Room

If you have a spare room or couch, think seriously about letting it out. If you’re looking for a long-term arrangement, take a lodger, but you’ll make more money per night if you offer short lets through Airbnb.

30. Use Windfall Money Wisely

When you earn a raise, get a refund or receive cash as a gift, put it toward your retirement or financial goal. You already know you can get by without the extra funds, so put them to work for your future.

For example, a few years back, I received a £3,000 bonus, which I used to pay down my debt. This one-off payment really helped me lower my monthly expenses by £200.

31. Make One Extra Mortgage Payment Each Year

Making just one extra mortgage payment per year can take years of interest payments off and shorten the length of your mortgage if you can afford to do so.

This one of my favourite money saving tips; it is astounding to see how much interest can be saved by simply making one extra mortgage payment each year.

32. Get Insured (Insurance Is Not for Sale When You Need It)

Insurance is a key element of a good financial plan. It is easy to lose all the money you have amassed over time without an insurance. Likewise, don’t be over-insured, this is also very costly.

Only insure yourself for things you cannot replace, do without or pay for without anguish. For example, car and home insurance protects your assets, life insurance protects your family when you pass away etc.

Download our FREE personal financial planner to help you track and achieve your financial goals..

33. Think about Retirement

If you start saving at age 40, you’ll need to save twice as much money monthly as if you had started at 30.The later you start, the more you’ll have to save to reach the same goal.

Compare this to the sooner you save, the more time the compound effect has to work, and the more interest will grow.We hope these simple money saving tips inspire you to save more and make the most of your money.

Share Your Money Saving Tips!

Share your best money saving tips with us. We’d like your tips on how to save money and stretch our money further. Share with us in the comment box below!

Here are Some Great Money Tools We Love

These amazing money tools will help you manage your money efficiently, save more and even make it enjoyable.

Easy way to track money: Cleo
Banking made easy: Monzo
Tax free investing: Fidelity ISA
Invest from as little as £1: Wealthify
Easy and automatic saving: Plum
Easy and automatic saving: Chip
Find the best deals and save money – MoneySupermarket
Compare the best holiday deals and save: TravelSupermarket
Access your credit score for free: Experian Credit Score
Write a legally binding will from the comfort of home: Beyond
Earn Money While You Spend: Quidco
Selling and buying your home made easy: YOPA

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