COULD YOU SAVE £8,000 BY THE END OF THE YEAR THROUGH MONEY SAVING HABITS?
By Andrew Wayland, Everyday Loans
A study just published shows that UK households could save over £8,000 by the end of the year by making a few simple lifestyle changes. Could yours be one of them?
We know that saving money at the best of time can be tricky, and the lockdown crisis has made matters worse for many of us - with changes in our financial circumstances meaning that we've had to tighten our belts.
But by keeping up with some of the lifestyle changes that were forced upon us in lockdown, we could end up saving ourselves a small fortune. Here are five ways how.
Don't buy as many clothes
The survey found that the biggest saving made by households across the UK was in buying clothes. On average, we spend over £1200 a year on clothes and shoes, but shop closures put an end to lots of unnecessary impulse buys.
Leave the car at home when you can
And because we couldn't go anywhere, we also made big savings on fuel. The average family spends just over £34 a week running the family car, which tots up to quite a big number over a month.
So now that we can go out again, try to walk or cycle when you can. Not only does it save you money, but it's also keeps you fitter and healthier, which has never been more important.
Eat out less
The survey also found that we've been saving almost £34 by not eating out – adding up to £136 over the course of a month. If you're still keen, at least wait until August and use Eat in to Help Out meal deals and get even more money off by using online discount codes.
Don/'t have as many beauty treatments
We saved ourselves, on average, £25 a week on haircuts and spa treatments during lockdown. Again, that amounts to a tidy sum as time goes on. Ask yourself if you really need to treatment? Or could you DIY? How long do you have to work to earn what it would cost you? Do you really need it?
Make your own cuppas and lunch
Working from home and not splashing out on lunches and coffees on-the-go has also saved us £21 a week. As some of us start to move back to the workplace, taking your own cuppa and lunch is a really easy way to carry on saving over £80 a month.
By continuing with just a few of these good money habits - or even starting them now. It's never too late – could be a really substantial and valuable saving for many households. And think of all the other bigger things that you could buy with the extra income.
Andrew Wayland - Marketing Director
Andrew helped set up Everyday Loans back in 2006 acting as the driving force behind the sales and marketing strategy for generating business to this day. Prior to his position with Everyday Loans he worked as the Head of Commercial Development for a tech start up and ran his own PR agency for around 5 years.