Easy ways to save money in 2024

With Christmas not long over, many people feel the financial burden of the festive season in January. Promising to tighten the purse strings as a New Year resolution only to fall off the bandwagon a few months in. In addition to rising prices, taking small steps each month is the easiest way to save some extra money.

Tip 1- Sell Sell Sell

You’d be surprised the amount of money you can get for items and clothing you no longer use around the house. As young children may have got new toys for Christmas, this is the perfect time to declutter and earn some money doing so. There are various platforms online to sell items such as Vinted, eBay and Facebook Marketplace. It can be a lengthy activity however if you take a few items per night/week, it’ll not seem like such a chore. Some selling platforms do have a fee for listing the item and take a percentage of the final selling fee therefore be sure to do your research before.

Tip 2- Make your own lunches

With a busy life, it can seem like a real hassle prepping lunches for the week therefore opt to “just buy something on the day”. Although this is true, if you calculated the money spent over the course of the year for takeaway/grab and go lunches for one person, your eyes just may water. Roughly speaking, if you spend £5 per day, that’s over £100 a month and a staggering £1300 over the year; that alone could pay for a new phone or laptop that may be on the list next Christmas!

Prepping is key. Set aside one hour and get it all out of the way for the week or alternatively each night when making dinner, cook a little bit extra for left overs. This is great for those who can’t eat the same thing for lunch 5 days straight.

Tip 3- Shop around for everything

When it comes to car insurance, phone contracts and entertainment packages, don’t just accept the renewal price from your current provider. Use the numerous comparison websites online to get the best deal, the likelihood is, there is a better deal out there and its very easy to change over, especially if your contract is coming to an end. In regards to entertainment packages, certain providers will offer you a discounted price to stay if you mention that you want to leave. However if its not needed, rarely used or if the service isn’t worth the money, get rid of it. It’s another bill to forget about. Another thing to think about is- do you really need Netflix for the full 12 months? Take breaks from the service, save money and when you return, you have more TV shows to binge.

Make use of Sim only deals! There is no need to upgrade your phone after your contract ends if its in working condition. Opt to go for a sim only deal instead. This means you can get all the tariffs features of your previous contract, for as little as £10 per month. They come in 12, 18 and 24 month contracts; typically the longer you take it out for, the lower the monthly cost is. You may need a new sim card sent out however the provider should be able to keep/transfer your old number.

Tip 4- Eat out less

The one that hits home the most might just be this one. As much as it’s great to support local businesses and to indulge every so often, there is a limit and you have to set that limit yourself. This is especially true if you have a family- it can get expensive. Use the new year to brush up on your cooking skills and try a new dish every week/month to recreate. Remember practice makes perfect.

Tip 5- Turn it off

The majority of us are guilty of leaving household appliances on whenever they’re not needed. Whether it be TVs, lights, speakers or laptops. Just turn them off (not standby), it’s a habit we all need to break.

Compare your bills over the months to see the difference, even if it’s small, it all adds up.

Why not create a saving chart or record your savings on your phone, you may shock yourself how much you’ve saved over the course of the year and its the perfect motivation to continue into 2025.

Not a member of Portadown Credit Union?- Join here and don’t forget about the kids too (in office only). Its never too early to save for their future!

Portadown Credit Union- Your local lender of choice