How to save money each month

How to save money each month

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Saving money every month is in reach of almost all of us as long as we’re willing to budget and work towards our goals. Here are our top tips for putting away money each month in just a few easy steps.

How to save money each month

The best way to quickly save money each month is to start with a plan of how much you want to save. From there, you should stay vigilant throughout the month for opportunities to save with every purchase, whether that means using discount codes or buying second-hand items.

How to save money each month

The best way to quickly save money each month is to start with a plan of how much you want to save. From there, you should stay vigilant throughout the month for opportunities to save with every purchase, whether that means using discount codes or buying second-hand items.

Set out a plan

If you want to start saving, you’ll need to have a plan and a goal in mind. Without a specific goal in mind, it can seem a little pointless to save money each month, and without a plan, you might be unsure how much you can actually afford to save.

Setting up a budget is the perfect place to start if you want to save money quickly. Once you’ve figured out how much you’re earning against how much you’re spending, you can take a look at what’s left over and start planning how much you want to save.

For more on creating a budget, check out our guide and download our budgeting spreadsheet.

Allow notifications

Staying up to date with your spends is crucial if you want to save money each month. By setting up notifications on your mobile banking app, you can keep track of your money without having to go through your account transactions.

You can set up text notifications with your thinkmoney Current Account by following the steps on this page.

Set up a jam jar account

Jam jar accounts are a great way to save money every month, as money is kept aside for your bills in a separate account. This means that any money in your main account is available for you to spend - or save - as you please.

By having your bills kept apart from your spends, you can get a clearer idea of how much you’ve got for the month, and by the same token, you can figure out what you can afford to save.

Look for discounts

If you’re trying to figure out how to save money quickly, then browsing the many discount websites online is a great place to start. Websites like Wowcher and MyVoucherCodes have loads of great offers on any number of things.

Once you’ve found discount codes for things you’re looking to buy, a good way to boost your savings is to put away the amount you’ve saved by using the discount code. This way, you get the benefit of using the discount code and the money saved won’t be spent on anything else.

Look for second-hand items

As exciting as it can be to get a delivery of some brand new clothes or a games console fresh out of the box, getting your stuff second-hand can be a quick and easy way to save money on your purchases. Lots of websites will give details on the condition of second-hand items, so you don’t need to worry about getting a duff product.

In the same vein as mentioned with discounted shops, you could choose to save the difference between the full price and the second-hand price you actually paid.

Looking for a hand with saving money each month? With a thinkmoney Current Account, you’ll get help with your bills that will allow you to start saving for the future.

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