5 ways to save £50 a month

The news is full of articles on the recession – the lack of jobs, the rising levels of unemployment, the cost of pensions and the lack of savings. So now is a fantastic time to start saving. Here at MoneyTowers, we have put together five quick tips to hep you save £50 a month.

1. Entertainment
Instead of going out, bring the entertainment home. That could mean instead of eating out in a restaurant, buy in the ingredients and cook at home; instead of clubbing, invite your friends round for a dinner party; instead of going to the cinema, hire a film instead. Have a think about cheaper activites on the weekend too – hiking, camping and beachcombing are all low-costs or free and can be just as enjoyable as more expensive past times.

2. Libraries
Make use of your local library – they are free after all! And libraries don’t just have books – they often have DVDs and CDs that you can borrow. Many libaries also offer free internet access

3. Eating Out
Are you a coffee or tea fiend who likes to get coffee from coffee shops? Take a thermos flask or switch to tap water as cutting back on the coffee is not only good for you, but can be good for your wallet too.

4. Grocery Shopping
Always write a shopping list before you go shopping and stick to it religiously. This way you will stop yourself impulse shopping and buying things you don’t need. Shopping online can often also help stop those impulse buys. If you meal plan ahead of time, it is also likely that you will waste less food therefore save yourself money. Swap expensive products for supermarket own brand goods – try swapping just one or two items per shop. You’ll be amazed at how some staple products are almost identical yet have wildly varying costs.

5. Treat Yourself
Don’t forget to treat yourself once a week otherwise you’ll never stick to your budget. Life is there to be enjoyed, however you will enjoy your treats more if they come in moderation. Treats don’t have to be expensive either – try a luxurious bath filled with rose petals and bubble bath with a glass of wine and lit scented candles, or take some time out for a romantic walk with your partner.

You might also be interested in reading:
10 ways to reduce your shopping bill
How supermarkets trick you into spending more money

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