9 Affordable Hacks For Living On A Budget

July 3, 2023 • Chris Bardsley

9 Affordable Money Saving Hacks For Living On A Budget

Here at Fair for You, we’re on a mission to give you the financial knowledge you need to help make your finances more comfortable.

Here are 9 top tips on sticking to your limits, plus making extra savings on your outgoings too.

Before You Start: Do Not Compare Your Financial Situation To Others

This first tip might not seem as practical as the others on our list, but is just as important.

Only focus on your own financial situation while you’re trying to get a better grip on your finances.

It’s so easy to get carried away looking at what we don’t have. All this does is make us feel bad, and doesn’t really change anything.

By blocking out anything that isn’t very helpful and doesn’t leave you feeling motivated, you will get your money saving journey off to the best start.

Explore The Fair For You Flexible Payment Scheme For New Household Goods

If you’re on a tight budget, you might not have the money to buy household furniture, appliances or even tech outright.

At Fair for You, we make it easy to afford household goods at a price that suits you. There are also no hidden fees, and we can work with you if your circumstances change.

Why not browse all of our products for sale, to see if we have anything you need right now for less?

Use Price Comparison Websites

Websites such as Trolley make it super easy to find the best deals on all the everyday essentials.

By comparing prices from online retailers and supermarkets, you can see all the latest prices for that day and choose the deal that works best for you.

Don’t forget to also consider prices in terms of sizes before purchasing. For instance, when browsing washing detergent you’ll normally see information on the price per kg. This can help you see what’s really the best deal, which may actually be different from any special offers.

Try To Buy In Bulk Where You Can

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When it comes to the items you need most in your house, buying in bulk can save a fortune.

As well as reducing fuel or transport costs from multiple trips to the shop, experts have reported that buying in bulk can cut your weekly shop by as much as half.

Retailers such as The Company Shop have stores dotted across the UK. They offer cut price goods (including bulk items) which come direct from retailers due to being surplus stock.

As well as preventing food waste, such schemes give everyday shoppers some fantastic bargains to enjoy.

Cook As Much As Possible Using An Air Fryer

Research by Utilita revealed air fryers could save the average household up to £280 per year. Costing just 9p a day to run, air fryers can seriously slash your food and energy bills.

Air fryers are currently far cheaper than gas and electric cookers. Also, air fryers are designed to be healthier which is another major advantage.

Take Time To Consider, Research & Question All New Purchases

Have you ever popped out to the shops, and ended up buying things you had no intention of buying when you woke up?

Emotional spending is another thing to watch out for. It involves making (often rash) purchases based on how we’re feeling, including feeling sad, anxious, guilty or stressed.

Before buying any new item, ask yourself the following questions in your mind:

  • Is this item an absolute essential, or can I live without it?

  • Do I have something similar at home I can use instead?

  • Could I find this item cheaper if I shopped elsewhere?

  • Could I wait a while to buy this item, so that it’s easier for me to afford?

Use Cashback Websites

When you really do have to buy something, and you happen to be shopping online, why not get paid for where you shop?

Lots of websites will give you cashback on purchases, including TopCashback. Each day, TopCashback highlights where all the best deals can be found. If the company or product happens to be something you were already shopping for, why not make an easy profit on it?

The amount of cashback offered ranges from a few pence up to thousands of pounds, making a really exciting way to earn extra money without having to spend any more.

See If You Can Reduce Your Monthly Phone Contract

A report by Citizens Advice found that in the UK, we’re overpaying on our sim-only phone contracts by £800 million every year.

The reason is because most people don’t actually use all of their data, calls or texts allowances. Per person, the report suggests we could be saving £63 each per year, just by downgrading our plans to what we actually use.

Why not check your data plan right now, and see if you used up all of your allowances last month? If you didn’t and switching or downgrading plans could be right for you, you’d make an instant saving.

Know Your Bank Balance And At All Times

Don’t let all your hard work saving cash go to waste by not keeping a close eye on your balance, along with knowing exactly what payments are due out of your account and when.

If you bank online you can download your bank’s app onto your phone. We suggest logging in first thing each morning, so that you can comb through any new information.

We know living on a budget can be stressful, and viewing your bank balance can sometimes be really daunting. But as the saying goes, knowledge is power.

On A Low Income? Get Help & Support From Fair For You

If you are currently struggling to manage your money, there are several ways that we may be able to help here at Fair for You.

This entry was posted in Finance and Budgeting Tips
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