Reducing your outgoings every month could have a big impact on your finances. Here are 5 top tips on how to save money and boost your budget.

1.    Shop online

Not only could shopping for groceries on the internet save you time competing with the crowds at the local store, but you could also bag yourself some bargains!

Many online retailers offer discounts on the RRP (Recommended Retail Price) of many brand-new items, and auction websites such as eBay could let you get ‘used and new’ items – from electrical equipment to clothes – at a fraction of the original price.

2.    Buy in bulk

When doing your ‘big’ household shop, consider buying certain items that get used up quickly in bulk. For example, some stores offer ‘multipack’ deals on things such as toilet roll, snacks, and cleaning products – which could work
out a fair bit cheaper than buying them all individually.

Think about stocking up at the local wholesaler every month too. Just bear in mind that perishables don’t last forever.

3.    Stick to a shopping list

We’ve all been there: made the decision to have an ‘economical’ trip to the supermarket, and ended up with far more items than we really need – and possibly won’t even use.

Help yourself stay within your budget by making a list of everything you need (rather than want!) and stick to it – so you know that you won’t forget any essentials, and you’ll still be spending within your limits.

4.    Do you really watch all those TV channels?

If you have a cable TV subscription, be honest with yourself: do you really watch all those channels? If you’re not a sports fan, yet you’ve got a package with 20 different channels you’re paying for every month, it makes sense to look around for a better deal.

5.    Are you getting the most out of your gym membership?

Keeping fit and healthy is an important consideration – but if you use a gym it can be a costly one too.

Of course, if you’re paying, say, $40 a month and you use the gym three times a week, then you’ll probably feel you’re getting your money’s worth, but if you don’t really use your membership, think about cancelling it.

You could use the money saved to buy a bicycle instead, or go running during the evenings or weekends – and work up a sweat without breaking the bank!

Other useful money saving links:

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