How can I increase my savings?


Saving money can be incredibly difficult, but more and more of us are now looking for ways to build our savings and spend less money in our day-to-day life. We know that it’s much easier said than done, but with our four favourite ideas, you’ll see your savings growing in no time!

  1. Set yourself a budget

Spend some time and create an outline of your income along with your outgoings. A spreadsheet is a popular way to organise your finances, so you can easily see each section and add in different tabs to split different costs up, and you’ll likely immediately spot ways to write for us that you can start to reduce your spending in certain areas.

Start with your essential outgoings, such as your rent or mortgage, then council tax, any insurance, and costs that you cannot change. You can log these in your spreadsheet and then look at what you’ve got left for the month that will cover your utility bills, your food costs, and any other payments that you might need to make. Often, there are several ways that you can cut these costs down – consider changing utility providers that can lower your monthly rates or start meal planning and prepping each week to reduce your weekly food costs.

If you’re not too sure where you should start, a good option is to simply log how much you spend and what on for a month; often, we don’t realise what we’re spending our money on, but once you can see clearly where your money is going you can look at how you can reduce in areas, especially if you find that you’re making a lot of impulse buys.

  • Do some research

From time to time, homes need some updating, and if you’re looking to do some redecoration on a budget, you’ve still got several ways that you can do so. By doing the work yourself, you can lower your costs, especially if there are some jobs that you can easily manage to do on your own.

A really popular way to decorate on a tight budget is to lay some new vinyl flooring. Wooden patterns in a dark grey shade are a very desirable option, but there are plenty of patterns and colours that you can choose from to find the one that will suit your home the most. Doing this is a really smart way to make your house look more attractive, too, especially if you’ve been wondering, “how can I sell my house fast?”. You don’t have to spend lots to get your home ready for sale, and you can find all sorts of helpful suggestions online to inspire you and find the perfect design for you.

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