Money Saving Tips and Hacks (Part 1)
I wasn't always the most money conscious person in the world, heck I still aren't but in 2018 one of my main focuses and goals is to become more financially stable!
We are a family of 4 including two young kids and its very important to me that we become stable financially not just for their futures but so we can live comfortable day to day! I mean we've all been there the day before payday your minus in the bank your just out of nappies and theres not a drip of milk left in the fridge? What do you do?
This is where I come in I wanted to compile a list of all my money saving tips to help you guys and I'm going to be sticking to it myself this year. So lets get into it.
Have at least 3 Bank Accounts
Okay hear me out. I may sound crazy but there is alot of benefits to having more then one bank account. Currently I have 3...
- The Everyday Account
- The Outgoing Account
- The Savings Account
So let me brake these down for you a little more. The everyday account is going to be the account where all your income goes into. So have all your wages, children's allowance if your a parent or any other income you may have coming in, going into that account.
Then have a direct debit set up to come out weekly or monthly depending on how often you get paid. We'll just take for example if you got paid weekly and your bills are due at the end of the month. Brake your bill into 4 and set up that direct amount to come straight out of your everyday account. That way your bill money will always be there and it will save you ever having to pay late payment fees from you bank. I can go into more details about the bank accounts if you wish just let me know down below in the comments!
Then you have your savings account. Now I think you could have more then one savings account infact you could have several. I plan on setting up at least 2 more savings accounts this year one for each of the boys. You could have a holiday savings account, A rainy day savings account one that may be a little more accessible which I recommend having in case of emergency i.e. if you need new tires etc.
The benefits of having more then one account will make such a huge difference to you if you are someone who struggles to budget your money. Its very easy to think yay I'm rich on pay day but come nearer the end of the week your checking down sofas and shaking the kids piggy banks for some loose change. Trust me it will cost you nothing to try it and I guarantee if you do it will be a big game changer!
Transfer Odd Change
Okay so again this will depend whether or not you get paid weekly or monthly but whatever money you have left over in your account transfer it straight over to one of your savings account.
For example if you start your week off with €300 and the night before pay day you have €26 left over, transfer it. Trust me this is a simple but very effective way to add extra money into your savings.
The €5 Challenge
You will hear me talk alot about this infact I believe in this one so much I dedicated a whole entire post to explaining how it works! Just CLICK HERE to check it out.
Always Change Your Provider
I am an avid believer is this. You can save yourself upwards of €200 and more by changing your television and internet provider, phone provider, gas provider etc. There is always amazing new customer sign up deals all the time so instead of rolling into another yearly contract with your tele provider have a look around and see what the other providers are offering. If your going to get 6 months half price why not switch and get the 6 months half price?
I see one amazing deal there recently where sky were offering there new customers a free 32inch tele? I mean come on thats insane a free tele for joining?
I also recommend to do this with your car insurance. Each year ring around insurance providers and see what the lowest quotes are. If your current provider can not price match that then just switch, its easy and could save you hundreds in the process.
Use Money Back Cash Websites
Now this is something I have recently only become accustomed too however I don't know why the hell I haven't used them sooner. So if your not aware there are actually websites that will give you money back on things you buy online.
The one I found recently is called Cashback Ireland I will link it down below for anyone whos interested and wants to check it out.
They cover a wide range of stuff from fashion to car insurance, home and travel. Boohoo.com, Asos and Look Fantastic are all website I buy off quite regularly and I had know idea that I could be earning money back when buying online. Its really quite amazing. There is a minimum of €50 payout however you can also let the money build up in your account and you can get it sent to you quarterly or annually which ever you would prefer.
Thats its for part 1 of my money savings tips and hacks so I would love to know what you guys thought of it.
Part 2 will be coming your way tomorrow so keep an eye out for that and I will catch you in the next one.
Cashback Ireland Website - CLICK HERE