Reduce Spending With These Frugal Moves


August 16, 2018 by Stuart Smale

Success managing money balances earnings and outgoings to keep you in the black. Though you may occasionally lose momentum, slipping into negative territory, your financial health depends upon quick recovery and ongoing balance. Without it, you’ll continue losing ground, struggling in an unsustainable financial cycle. Fortunately, there are many ways to reduce spending, strengthen your finances, and achieve financial stability.

Cost-cutting strategies can help trim spending in most consumer categories. It’s your duty as the family financier to commit to prudent spending and save money wherever you can. If you need a loan, shop for the best interest rates. When you go to the market, search for deals and discounts. And when discretionary spending tempts you, put purchases to the test before making costly commitments. These are only a few examples of the frugal mindset helping many UK families make ends meet in the face of wide-ranging financial challenges.

For immediate spending relief and stronger finances, use these cost-effective moves to lower your cost of living.

Take Up Couponing

You don’t have to be a coupon fanatic to take advantage of deals and discounts offered by stores and service providers. But turning your back on coupons altogether is a costly mistake. Supermarket coupons are available for many of the most popular items in your trolly, so why not make savings as often as possible?

Online access makes it easier than ever to get your hands on discounts through sites like extremecouponing.uk.com and others. Supermarkets themselves are another great source of coupons, often printed at the checkout, with custom offers based upon your past shopping preferences. To make big savings with coupons, follow these expert tips, shared online.

Stay Organised – If you’ve never paid mind to coupons, you may want to wade in slowly, using the most accessible coupons to get started. Like many Britons devoted to healthy finances, once the savings start adding up, you’ll be eager to expand the effort, bringing in even more discounts. As you become more involved with couponing, you’ll quickly learn there’s a good amount of paperwork to manage. Staying organised ensures you don’t miss out on any deals and makes your shop more efficient. For consistency, keep your coupons in a portable file, so they’re easy to access and ready to go whenever you shop.

Grab In-store Magazines – Supermarket operators face brisk competition, so most stores have their own coupon publications. Many of the deals are also available online, but some are reserved only for in-store pickup. So don’t miss these bargains each week, and if there’s a per cent off or deal on a favourite item, grab more than one copy of the magazine. That way, you can make savings, again and again, cheaply stocking up on the things you buy most.

Shop Around – With store loyalty cards and other supermarket incentives, you’d think it pays to stay loyal to your favourite seller. Unfortunately, that isn’t always the case, so it makes sense to shop around for the best deals. Of course, it’s not cost-effective to bounce from store to store for 50p savings, but making the rounds to various stores can yield consistent savings if you know what’s on offer at each stop.

Score Bargains Online

Consumers increasingly turn to online venues to make purchases. As a result, sellers are fine-tuning the marketplace, which can lead to savings. Savvy money-savers know the ins and outs of online bargain hunting, taking full advantage of the competitive online retail environment. These are a few of the tactics buyers use to save cash when shopping online.

Get a Price Match – Many noted retailers have policies in place, beating the best available price on consumer goods. That means they’ll match or beat the lowest price you find. The added assurance lets you shop at top stores without worrying you’ll overpay. Of course, you can always buy from the seller offering the lowest price, but it may be more convenient for you to use your major retailer’s store card or bundle an item with other purchases from the same store.

Use Vouchers – Watching your favourite sites for voucher codes can yield big savings, but it’s easy to miss out. For help making the most of voucher codes, consider installing helpful plugins, such as Pouch, which send voucher alerts and list codes during checkout.

Leverage Social Media – Marketers reach out in many different ways, so it pays to account for all the possibilities, uncovering discounts. Following brands on Twitter, Facebook, Instagram, and other social media channels open the door to savings, using social-only deals and discounts.

Eliminate Delivery Charges – The cost of delivery pushes prices higher for online shoppers. In fact, you can quickly erase online savings when delivery charges are accounted for. As another incentive to lure customers away from brick and mortar outlets, many sellers now offer free delivery. You may have to spend a particular amount or meet other criteria to qualify.

With so many spending obligations to account for, every money-saving opportunity provides welcomed relief. Use these frugal shopping strategies to reduce spending and strengthen your finances.

Is the managing director of Cobra Payday Loans and Ready Money Capital Limited. He is responsible for all the day to day functions and performance of both companies and regularly contributes information on the short term finance sector. Stuart is an approved person with the Financial Conduct Authority, holding SMF3 (Executive Director) status.

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