Buying a new home is expensive. If you’re trying to save money for a deposit, are hoping to raise a mortgage or are planning to furnish your new interior, you might be looking for some great tips and tricks to keep your current costs down. If so, here are six great suggestions!
1. Keep a tight food budget
Our weekly food bill is an area where many of us overspend… especially if we go shopping on an empty stomach! To help you keep costs down, make a list and stick to it. This means doing a bit of upfront planning, deciding what you’re going to cook for the week ahead, as well as allowing yourself the odd treat too. Opt for own brand and basic ranges, don’t buy pre-packaged or prepared meals (you pay extra for the convenience), and try to take a packed lunch to work rather than shelling out for a Meal Deal every day.
2. Use comparison sites when making purchases
If you’re planning on buying something, check out the deals using a comparison site in advance. Big purchases such as furniture, mobile phone deals and insurance rates can be compared side by side for the best deal, and savvy shoppers will even check out the best rates on their favourite groceries too.
3. Decide whether you really need those subscriptions
Take a look at your bank statement and see if you can spot any regular outgoings… gym membership? Magazine subscription? Netflix? It’s well worth getting a clear picture of what you’re spending your money on so that you can decide whether it’s worth continuing to pay for. If not, save yourself some cash and cancel it!
4. Use discount websites for days out
It’s unrealistic (and boring!) to expect you’re going to stay indoors between now and finally buying a house… you might save money, but you won’t be enjoying yourself and will only come to resent your situation! So, head out on adventures but do so mindfully: camp or opt for a B&B rather than staying in hotels, and sign up to sites like Groupon and Wowcher to see if you can secure a discount on something you fancy doing.
5. Buy second hand and look for freebies!
Whether you’re buying anything from clothing to cutlery, shoes to sofas, or worktops to washing machines, brand new isn’t necessarily the best way to go. You can save money by scouring second hand sites such as eBay and Gumtree for great deals – in fact, some people will give away expensive items for free! You could also sell some of your possessions if you want to raise some extra cash for minimal effort.
6. Consider raising money against something you already own
Don’t forget, as well as saving money you can also get some extra cash if you need it. Banks and building societies offer loans, but if you don’t want to ask them or are worried about your credit rating, you could use a service like carcashpoint.co.uk if you’re comfortable with the terms and conditions.