Simple Ways to Save For Your Future

Putting money away for a rainy day is easier said than done and it’s easy for living expenses to spiral out of control and eat into your free income every month. For many of us saving is a desirable idea but isn’t always acted upon. So what can you do to improve your financial outlook and start saving for your future?

The first step is to make a commitment to save, not just mentally but physically. Setting up a regular payment from your current account into a savings account will make you more likely to stick to the arrangement rather than relying on willpower at the end of the month.

Reviewing your finances from top to bottom can also help you decide where you could be spending less and saving money. It’s amazing how much money you can save by shopping around for certain things such as insurance and travel. Searching online for the best deals can very often save you money with very little effort required. Travel expenses such as bus and train fares can often be reduced by buying a season ticket or travel card. If you need to use a car for commuting, why not ask around at your workplace about lift sharing, which will help to cut fuel and maintenance costs on your vehicle.

The shopping around principle also applies to your utility bills. This has been big news recently, with prices rising quite sharply, so looking around for a cheaper supplier could save you a significant sum over the course of a year, maybe even enough for a holiday. Talking of which, it pays to delay when booking a break, as with more and more incredible last minute deals on offer and huge online discounts, you can grab yourself a real bargain.

Another major household expense where you can easily save money is grocery bills. The major supermarkets are always cutting prices and competing with each other so that’s good news for you as the consumer. In March 2007, a government funded study revealed that over 3.3 million tonnes of food were wasted each year in Britain. This equated to more than 15p in every pound spent on food being wasted. So for every hundred pounds spent you could be throwing fifteen in the bin. If you apply that to your shopping bills throughout the course of the year, then it’s clear to see where a lot of hard earned money could be saved.

So if you do manage to make a lot of these savings then one place to put the money is in an internet saving account, especially if you already bank online as it allows you to transfer money between your online accounts quickly, easily and at any time of the day or night. You’ll soon be surprised at how quickly your savings grow and it will become an enjoyable habit rather than a chore.

Disclaimer:
This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as advice or used to make financial decisions. Expert financial advice should always be sought and any links contained within this article are included for information purposes only.