How much time does it take to save £100, £1000, £10,000? Would you like to be saving more than you are right now? If you don't want to spend hours searching for ways to save money, then these hacks might come in handy.

Money is something that everyone wants to save and invest. The problem is that it takes a lot of effort to get started. There are lots of things that you can do to save money without having to sacrifice anything.

In today's current state with the cost of living crisis, energy bills/utility bills are sky high. We could all use with a little extra money to get us through these times. The last thing we want is to be pilling up credit card debt because of not being able to cover our costs.

Before we get started on the list, there is one extra tip I want to give. And that is to always have an emergency fund. An emergency fund is a part of your savings you keep no matter what in case of well... emergencies. These can be crucial for unexpected expenses.

Here are some simple hacks that you can try out to start saving money today.

1. Use Coupons

Coupons are great ways to save money while shopping in store or online. I can't imagine everyone collecting physical coupons although some will. So I would say to use online coupon sites to find deals when you want.

You can find coupons at sites like Groupon, RetailMeNot, Ebates, and others. These sites offer special discounts on products and services. If you're looking to start saving cash, check out these websites!

You can find products ranging from events to restaurant's to physical items.

2. Shop Online

Shopping online makes it easier than ever to buy what you need without leaving home. Plus, you'll have access to a wider variety of items. Many stores now allow customers to shop online and pick up their purchases at a local store. Check out our top picks for best online retailers.

You may find deals exclusively to shopping online. Often there are codes you can input onto these websites which can help you save some money. Apps such as Honey or Pouch automatically scan the internet for codes whenever your shopping so you don't need to search for them and these apps are FREE!

3. Start A Savings Account

A savings account gives you interest on your money. In fact, many banks give you 0.5% to 1% per year depending on how much you deposit. Interest rates vary between accounts, but even just $50 a month could add up fast. And unlike other types of investments, you’re not risking anything if the market takes a dip. Open a high-yield savings account today!

If you want to increase the interest rate on your savings account then you can open instead a fixed term savings account which provide a higher interest rate for your keeping your funds in their savings account

4. Set Up Automatic Monthly Payments

If you have bills that automatically go out each month, set up automatic monthly payments instead of paying them all at once. Most bill payers let you choose either option, and some may even negotiate lower payment amounts with creditors. By doing this, you can avoid late fees and penalties.

5. Find Free Events & Activities Nearby

There are tons of free events happening around town. From art shows to live music performances, there's always something going on somewhere near where you live. Find out where they are by checking out our list of free things to do in your city.

6. Get Organized

Get organized! Keep track of your bills, bank statements, receipts, and other important documents with one of these simple systems. Creating a budget to help you manage your finances will drastically help your financial situation.

As soon as you are tracking your income and expenses, you will be able to improve your spending habits. This way, you won't overspend and you will know exactly how much money you are making.

7. Make Your Own Cleaning Products

Homemade cleaning supplies are healthier and cheaper than buying commercial cleaners. Try mixing equal parts baking soda and water to make a cheap scouring paste for sinks and tubs. There are many simple cleaning recipes that can do just as good as store bought brands and in fact sometimes even better.

You may miss out on some nice smells from your typical brands but but your clothes will be super fresh and clean.

8. Grow Your Own Vegetables

Grow your own vegetables at home and eat fresh produce throughout the week. It will cost less and be better quality than anything you'd find at the grocery store. There are many different types of vegetables and even fruits out there with varying difficulties to grow.

If you are worried you can't grow stuff then start of with something easier to grow. Use apps like garden manager to help track your vegetable garden and sure you are watering and caring for your plants when it's needed.

9. Cook More Meals At Home

Cooking from scratch doesn't have to be difficult or expensive. Learn how to cook easy meals using ingredients you probably already have in your kitchen.

Thankfully we live in a world with the internet so if you don't know how to cook... you can learn. Meal planning makes a great choice if you want to keep things simple. There are many videos on YouTube showing people's meal prep recipes often competing for the cheapest meal plan.

Explore the different options on YouTube and over time you can start making your own meal plans to exactly your taste.

10. Take Advantage Of Tax Breaks

Tax breaks are available to help people afford necessities such as housing, food, healthcare, and transportation. To qualify for tax breaks, you must meet certain requirements. But don't worry - we've got you covered. 

https://www.gov.uk/income-tax-reliefs

11. Start A Side Hustle

This is more of a bonus as it's not really a way to save more money but to make a little extra. Starting a side hustle is a great way to earn extra income. You can work part-time during evenings or weekends depending on what works best for you.

Sometimes there just isn't enough spare cash to begin saving some more. In this scenario, your only choice will be to increase the amount of money you can make. Side hustles are great as you can start them as you see fit and align them with your interests. 

In some lucky cases, side hustles may even surpass a fulltime income allowing you to focus on growing it into a full business.

Summary

Saving money is about being smart about where you spend your money. The above money saving tips are all about finding ways to reduce spending without compromising on quality. There are many ways to save money not covered on this list and remember to keep in mind the goal of increasing your income.

I am not a financial advisor and anything I say in my blog is not to be taken as financial advise. For any financial advise please contact a financial professional. My blog is based on my own opinions, research and understanding of the financial markets.

I hope you have found this blog post helpful. If you did enjoy the blog then consider leaving feedback below or sharing the post on social media. I regularly post content on the stock market, personal finance, and side hustles/entrepreneurship so if you would like to read more then consider subscribing to my blog through my website (www.portfolio-hub.co.uk) for free or follow me on Medium.com.

Thanks for reading

FAQ

How to save money

Since the pandemic, our spending habits have changed – maybe forever – with more people understanding the value of having savings. Whether you're saving for something special or in case of emergency, it's a good idea to have some savings stashed away. Regardless of how much you can afford to set aside each month, there are saving hacks available and accessible to everyone.

Source: raisin.co.uk

How to save money as a student

Know your discountsGet yourself a discount card to hoover up any student savings going. You'll need to pay for theTOTUM membership(the three-year card is the best value), but you could recoup your costs in as little as one spend with50% off Spotify,10% off ASOSordiscounts on Amazon.Like to eat out? It's also worth adding atastecardto your arsenal to knock 50% off at thousands ofrestaurants in the UK.If you don't want to pay for your discounts, you can still use your student ID instead at a range of places, from clubs to cinemas – check out our fullstudent discount directory.Oh, and don't worry if you've already finished uni – you might be able toget a TOTUM card when you've graduated.

Source: savethestudent.org