My name is Rhys, a first time dad blogging about my adventures and experiences of being a parent. [email protected]

Practical guide on saving on day-to day expenses while living in Wales

We live in a world where the cost of living is constantly increasing, no matter where you are in the world. In addition to this the economy is facing the worst downturn in recent memory. You may find yourself paying more for your daily expenses even though you are buying exactly the same products.

To combat this more and more people are looking for innovative ways to save on their expenses. If you are saving in a clever way it doesn’t necessarily mean that your standard of living will decrease. Once you start seeing the benefits, such as being able to afford that much needed holiday, you will ask yourself “Why haven’t I done this sooner?!”

Most of the saving tips are oversimplified, for example “Save x percentage of your salary every month”. This doesn’t take into account the dynamic and ever-changing price market of our everyday day expenses. In this article we will take a look at some practical advice that you can implement to start saving today.

Everyone wants money, fewer know how to make money, and an even smaller portion knows how to save money. The desire to want to save money is the first step towards making yourself financially stable and not allowing yourself to become a victim of impulse buying.

Make sure you are using your credit card facility responsibly

Credit cards can often tempt you into buying things that you literally cannot afford and things that you don’t really need. That expensive pair of shoes or that new bag that you don’t really need can all be yours simply by swiping your credit card and paying for it later. The trouble with this is that these types of purchases create irresponsible spending habits that can really get you in financial difficulties in the long run.

In order to take control of your credit cards we suggest limiting yourself to just one card which is used for all your credit purchases. Chat to your banker about which credit facility will give you the lowest interest rates. Finally, using a credit card should only be used where it is necessary. For example, booking a flight using a credit card will give you insurance should the holiday not work out and you want to cancel the flight. Avoid using your credit card on your day to day expenses as this will give you the false impression that you have more than you do.

Changing your Spending habits to increase savings

At the end of the day you will need to make some changes to your spending habits if you want to save some money. If you have not been able to save money up until this point, then there is clearly room for improvement.

Implement these easy lifestyle changes to improve your saving habits:

Sit down with your finances at least once a week. It is so important to keep track of your spending habits. There are some excellent apps that have been developed to do just that. Instead of going through your bank statements over hours you can simply use an app that will show you your spending trends. From this information it is simple to see where you are going wrong and how you can improve.

Plan what you are going to eat during the week. One of the biggest money wasters out there is ordering takeaways. If you plan out what you are going to eat during the week you can simply do your groceries accordingly. Once you know what you are going to eat during the week you can go on the hunt for some Aldi or Lidl leaflets that display the latest deals on groceries. Extra points if you pre make your meals beforehand!

Spend some time researching websites to find special deals they may have. If you are looking for bargains then a simple google search will display the latest deals, such as “bargain deals near me” or “Free delivery specials”. You are going to want to avoid excessive social media use. Social media can be hypnotizing at times. You are constantly shown other people lifestyles with products that don’t really add any real value to your life. This can often lead to you buying things that you don’t need, or worse, buying things on credit just to impress others. Taking a social media break is always recommended, for your financial and mental wellbeing. Instead of purchasing expensive online products you can implement easy DIY projects to produce something truly unique and magical.

With these easy to follow saving tips you will see your bank balance grow and before long you will be on that holiday of your dreams!