Spending Tips that can save you Thousands of Dollars

When many people try to find how to save money each month they often end up finding little ways to save here and there. Don’t get us wrong, saving small amounts of money is good, but the smartest thing to do is to look for the big savings first. In this pursuit of significant savings, developers have created innovative budgeting and money-saving apps that can help you identify and capitalize on major savings opportunities. These apps analyze your spending patterns, provide personalized recommendations, and offer insights on areas where you can cut costs and save substantially.

Creative Ways to Save Money on Groceries, Car, Credit and Home

The biggest savings can be found by looking at saving money on your groceries, car, credit and home. Our list is by no means complete, but these are some big places to begin saving your money.

Legally buy stolen goods

Yes, we're putting heavy emphasis on the 'legal' part here. You may have seen police auctions in American TV shows, but they're a great way to save money in the UK too. When the police are unable to track down an item's rightful owner, they'll auction it off and give the proceeds to worthy causes.

Buy past 'best before' dates

Unlike 'use by' dates, 'best before' dates are solely recommendations about food quality, not safety. The Approved Food website can help you cash in on this. They legally sell groceries close to (or past) their best before dates that are still safe to consume. It's one of the best ways to save money.

Cancel unnecessary subscriptions

Whether it’s fitness apps, TV or magazine subscriptions, it’s easy to sign up to different services and then forget about them. Take a look at your transactions and make a list of all the subscription services you’re paying for.

Search for discounts

When shopping online you’ll see various deals and promo codes. Sometimes, you may have to do something like sign up to a newsletter to receive 10% off your next order. Other times there may be a promo code you can find that will offer you a better deal.

Open a savings account

Savings accounts are somewhere you can put some or all of your discretionary income – the amount left over after paying for personal necessities and tax – and any windfalls (e.g. tax refund). You can ward of the temptation to spend this discretionary money by setting up automatic.

Organize a free overdraft

Most banks had to alter their overdraft fees when regulations changed in 2020. While you won’t be penalised for going into an unarranged overdraft, you’ll now see charges of up to 39.9% EAR (effective annual rate) for going overdrawn.

Use price comparison websites

Price comparison websites let you compare hundreds of financial products and ensure you choose the best one for your circumstances. Whether you're looking to buy car insurance, credit cards or a broadband bundle, there is normally a huge difference between the cheapest and most expensive providers, so it's worth browsing for the best offers on these websites.