Are Your Finances Being Squeezed?

Saving money is great but at the moment, a lot of people are struggling because the prices of everything are going up but wages are not reflecting this. Add to this all of the economic problems caused by lockdowns and COVID-19, and so many families are really feeling the squeeze. Fortunately, there are things that you can do to still save a bit of money, for a rainy day or emergencies.

Keep on top of maintenance

If you put off fixing or replacing something for an extended period of time, it will cost you a fortune. Maintain control of the situation. If you believe a pipe needs to be replaced, act quickly or you will need to call out the professionals, which can be expensive. 

Take into consideration your boiler as well. It requires annual maintenance or it can get worse and break completely, resulting in a significant financial loss. It is preferable to make smaller payments.

Guttering is another excellent illustration. Keep it clean on a regular basis, especially if you have a lot of trees around your house.

Keep the details of Electrolux spare parts to hand as well, so if one of your major appliances breaks down, you can source the part and fix it rather than buying a whole new one. 

Look at your food habits

How much food do you throw away each week? There is a good chance it is a lot. It is typically possible to reduce your consumption and save money if you actually think about it and apply yourself to the task of doing so. Purchase more raw ingredients since you will be able to make more from them. The process takes slightly longer, but it is very worthwhile, not only from a financial standpoint but also from a health standpoint.

Reducing your meat consumption can also save you a lot of money while also allowing you to consume more fruits and vegetables. Another fantastic strategy to save money is to be certain about what you have in stock. This will prevent you from purchasing items that you already have.

Instead, you will know exactly what you need and will be able to finish all you have already started. It is good for the environment, your health, and your bank account.

Cut out unnecessary subscriptions and expenses

Cast your eye over your last couple of bank statements, and with a highlighter, mark any expenses or subscriptions that are not strictly essential – Netflix, coffees from the coffee shop, that sandwich at work, that gym membership you never use. See what you can cut out. If you have cable and Amazon Prime, do you really need Netflix as well? Can you take a flask of coffee and lunch from home instead of buying it? Can you cancel the gym membership or reduce the services you use? There will almost definitely be savings you can make.

Saving money is not always the most fun thing to do, but in many cases, it is absolutely vital. Hopefully, these tips will give you a good point from which to start. Do you have any tips to share? Don’t forget to comment below!