Test your saving skills with our hilarious new game. Play now!

15th November 2017

By Jen_sl

Take our new Cards Against Humanity-inspired quiz to really see how good (or bad) a saver you are!

 

                                                                                                           PLAY QUIZ

 

Each new year brings a wave of resolutions, with ‘saving more money’ often a popular choice. But this shouldn’t be something you only strive towards in the new year.

In fact, we asked members of our community about their spending and saving habits and found 82% of people are currently trying to set aside money. Unfortunately, we also saw that two in five people couldn’t save their target amount each month.

To inspire everyone to form some financially healthy habits, we wanted to hear the best advice our community had for people looking to save money (as well as which terrible advice everyone should avoid). We took the best responses and created our new Cards Against Humanity-inspired quiz to truly assess how good (or bad) a saver you are!

TAKE THE QUIZ

Top money saving tips

Hopefully you steered clear of our terrible tips, but our community also had some great advice for keeping your money in shape. Perhaps you’re looking to set aside money ahead of a big purchase, or you want to save for the future but don’t know where to start. Whatever your goal, read on to find out the best tips our community had to offer:

Try the 52-week challenge

One of the best tips we received was to ease into new savings habits by taking part in the 52-week challenge. You start by setting aside just £1 in your first week. Then you save £2 the following week, and keep on increasing until you reach the end of the year. This way, you’re making many small contributions towards your goal without over-committing and struggling to maintain your habits in later months.

Cycle to work and pack a lunch

Helping you save and stay fit, cycling to work can help reduce transportation costs that can eat away at spare cash (particularly for car owners). If you don’t already own a bike, many workplaces offer a cycle to work scheme, letting you pay for one over monthly instalments to reduce the impact on your wallet.

Workplace lunches can also stack up, so prepare your lunch at home beforehand and bring it in to reduce your food bills during the week.

Wait until you need something three times

It can be difficult knowing the difference between wanting something and truly needing it. Whether it’s something to decorate your home or simply look good on a night out, whenever you are tempted by a costly purchase, hold off buying it right away. Wait until there have been three instances when you could have used it – this will prevent wasteful purchases and prove that whatever you buy, you really need!

Shop around for local bargains

While supermarkets and large companies may seem like the first port of call for shopping, you can often make your money stretch further at independent shops, market stalls, and local companies. We found groceries were a big drain on wallets nationwide, so keep track of which food is in season and primed for discounts with our year-long savings calendar.

Pay yourself at the start of the month

It may sound simple, but the simplest way to save money is to make sure it’s a priority when you have money available. Setting aside whatever you have left at the end of the month may seem like a great idea, but you’re more likely to achieve your goals if you put aside a set amount at the start of the month instead. This means you instantly know how much money you have available and don’t have to worry about impulse purchases cutting into your saving efforts.

 

What are your top savings tips? Are you setting any goals this new year? Tell us on by leaving a comment below, commenting on Facebook, or through Twitter @giffgaffmoney.

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