Five Simple Money Saving Tips

1. Write a grocery list before you get to the shops. Without a list, these trips are a recipe for impulse buying and overspending.
2. Create a budget or at least track what you spend. When written down, problems (or solutions) will be much more tangible than scanning through a bank statement.
3. Compare/Switch power, gas or broadband providers. There are many comparison sites – including government created ones – to help you save.
4. Use cash if you can. Cash buying increases a phenomenon known as “pain of paying” as consumers see money leaving their hands and as such can be used to avoid or reduce spending.
5. Avoid buy now pay later. These schemes are designed to appeal to our emotions, rather than our logic and tap into our need for instant gratification. It’s also easy to create a constant cycle where it’s never paid off before more is added.