*This post is in collaboration with Aviva
Last week I shared with you the new Financial Personality Tool from Aviva, a great tool designed to help you make the right financial choices, save more and spend on the right things. Aviva is on a mission to help Britain save smarter, knowing that it’s so easy to spend money and so much harder to save. The Financial Personality Tool has made me think a lot about my own financial personality and how I like to spend and save.
Over the last few years, since getting out of debt, I have made much better financial choices and budgeted to get us into a much better situation where money is concerned. Today I’m sharing with you some of my top tips when it comes to saving money on a day to day basis.
Review your outgoings – All your monthly bills – direct debits, utilities, insurance policies can be reviewed at least annually to make sure you are getting the best deal and not paying an inflated price every time your renewal comes through. Check price comparison websites to see how your premium compares to others and you can easily switch online too.
Get cashback – In this age of internet shopping many purchases are made online every single day. Save money on these purchases using online cashback websites to get a percentage back on almost every transaction. It also pays lump sums for things like new insurance policies and new mobile phone contracts.
Check interest rates – If you have savings – or debts – it’s worth checking what interest rates you’re paying or receiving. With savings, rates can fluctuate from 0% up to a couple of percent in other longer term savings accounts or ISAs. Also, many savings accounts offer an introductory bonus rate which typically ends after the first year. With personal loans it can be costly to restructure them part way through but if you have been paying a loan off for a couple of years – and still have a few years left on it – you may find that current rates are a lot lower. Talk to your lender and compare prices with other lenders to see if you can save.
Review your insurance policies – Make sure your insurance policies only cover you for what you need. If you never drive in Europe you don’t need European breakdown cover and a lower, cheaper, level of cover may be more cost effective for you. If you can manage quite well without a car then you may not need the addition of a curtesy car on your car insurance policy. There are so many added extras on all insurance policies that it’s worth checking what cover you are actually paying for and whether it still suits your needs.
Do a fridge/freezer/cupboard inventory and meal plan – Each month I make a big list of all the food we have in the freezer and kitchen cupboards and then use this to meal plan around. Quite often there are a lot of meal ingredients lurking at the bottom of the freezer or back of the cupboard that you have forgotten about and using these can save so much money. Often when doing my inventory I will find that I only actually have to buy bread, fruit, veg and milk for a week which in turn saves us the bulk of a food shop.
So there you have my top tips for saving money. They’re all things we do regularly and that save us money consistently. Saving isn’t always about making sacrifices and cutting back but about getting smarter with the ways that you save – and also the ways that you spend. Check out the Aviva Financial Personality Tool for more advice and money savings ideas.