Beat the Cost of Living Crisis and Make Your Money Go Further

21 August 2022 Club ViP Plus finances lifestyle
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Saving money during the current climate can be a challenge for anyone. As the cost of living crisis continues, many people are finding it harder to make ends meet. When you throw in kids, mortgage or rent, it starts to feel impossible to keep a hold of your coins! But there are ways to make it work, even on a tight budget. You don’t need to live a life of misery because of it, either. Yes, you can save money without sacrificing your social life or your sanity. Here are 10 top tips from Clubvipplus on how to save money and make your pounds stretch further:

1. Create a budget and stick to it​

This may seem like an obvious one, but it’s important to be realistic about your income and expenditure. Track where you’re spending your money and see where you can cut back. There are many ways to do this, including using apps or simply writing it down in a notebook. Once you know where your money is going, it’s easier to make adjustments to ensure you’re not spending more than you can afford.

2. Shop around for the best deals

Never accept the first price you’re offered. It pays to shop around and compare prices before making any purchase, whether it’s for groceries, utility bills or nights out. There are many ways to do this, including using online comparison sites or haggling in person.

3. Sell unwanted items

If you’re short on cash, one way to boost your finances is to sell unwanted items. This could include clothes, books, electronics or even furniture. There are many ways to do this, including online marketplaces and car boot sales.

4. Limit your impulse spending

We’ve all been there – you see something you want and you just have to have it. But impulsive spending can quickly add up, leaving you out of pocket and with items you may never use. If you can, try to limit your impulse spending by waiting 24 hours before making a purchase. This will give you time to really think about whether you need or want the item, and whether you can afford it.

5. Plan your nights out in advance!

Planning is key when it comes to saving money on nights out. By planning ahead, you can take advantage of early bird offers and happy hours. You can also avoid buying expensive drinks once you’re out, as you’ll already have a plan in place. If you’re meeting friends, try to meet up before going to your chosen venue so you can all travel there together and split the cost of transport.

6. Make time and a plan for getaways

There is no use in spending money on a last-minute getaway that you are not prepared for. Instead, make time in your schedule to plan and save for a trip. By doing this you will be able to find the best deals and make the most of your time away. You don’t need to deprive yourself to save money. Just be smart about it!

7. Cut back on unnecessary expenses

We all have expenses that we don’t really need, whether it’s that daily coffee habit or buying new clothes every season. If you want to save money, it’s important to identify and cut back on these unnecessary expenses. This could mean making your coffee at home, or opting for a cheaper alternative to your current wardrobe.

8. Take advantage of discounts and offers

Keep an eye out for special offers and discounts, both online and in-store. This could include sales, loyalty cards and coupons. Many businesses offer loyalty schemes which give you money off your total bill or points which can be redeemed for future purchases. For example, the Clubvipplus loyalty scheme allows you to collect points to make savings on future events! 

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9. Be energy efficient

One way to save money is to be more energy efficient in your home. This could include turning off lights when you’re not using them, or investing in energy-efficient appliances. You may also be able to get a discount on your energy bills by switching to a green tariff.

10. Make sure to cancel any subscriptions you're not using

We all have subscriptions and memberships that we’re no longer using, but continuing to pay for them can add up over time. If you’re not using a gym membership or magazine subscription, or even Netflix, Disney, Spotify, etc. make sure to cancel them so you’re not wasting money needlessly. No one wants to throw away money!

Summary

There are many ways to save money, but it’s important to find the ones that work for you. By tracking your spending, shopping around for the best deals and cutting back on unnecessary expenses, you can make your money go further. But most importantly, planning is key! By taking the time to plan, you can make the most of your money and avoid last-minute costs. What are you going to start doing today to save money?