Small Savings Can Make a Big Difference

It’s not always possible to save a large amount of money each month. A simple truism is that everyone has bills to pay. Taxes to clear. Fees to transfer.

So if you can’t put away substantial amounts of money into a savings account each pay-day, then it might be much easier to look at the little things that can be done, which might be able to help cut costs here and there, freeing up your finances for the things you want.

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Budgeting

The quickest and simplest way to make savings is to start budgeting your expenses. If you are really serious about making some savings, then like a diet, you’ve got a face some truths and reduce your outgoings in any way you can.

These are some examples:

• If you have 3 takeout meals a week, try to reduce to only 2. Put the money you would have spent into a saving account. If you spend on average £15.00, then after one year you would have £780.00 saved.
• Speculate to accumulate. If you often go out for lunch at work, then try your best to take in sandwiches and your coffee/tea. Estimates place the daily expenditure at around £5. After a year you could save up to £1,300.

Review

Look at all areas where you spend. Do you have a magazine subscription? If so, that could be something you might want as a birthday or Christmas present instead.

Look at your bills. Are there ways to reduce the costs?

• For example, a simple call to your energy provider could result in a discount or reduction in fees as they review your account.
• Likewise, if your cable/satellite is costing for example £50.00 per month, then consider scrapping a package. If you have the complete sports/film/entertainment package, then downgrading to a basic subscription could save you an extra £10-15 per month. Decide what you really can do without and make the cut.
• Similarly, checking your mobile phone contract periodically can prove to be extremely useful in saving a small amount. If you find that you never go over your contracted minutes/texts/internet allowance, then a cheap package might be more suited. Deduct the cost of what you were originally paying from your new amount and put that difference (even if it’s only £5), into a saving account.

Moving it around

Of course, the savings you are making won’t count for anything if you are not keeping them safe in a bank account.  Most banks will have digital banking, and usually have a smart phone app as well. This can be a great tool for instantly transferring money that you are saving out of your current account and into an ISA. The same could be said about banking at online casinos, with the use of a 128-bit Secure Socket Layer (SSL) encryption system, this helps these gambling establishments in keeping personal data safe and secure. With this system which is used by a number of banks, players can deposit money without any fear and favor.