5 Small Ways to Save Money this Month

For a lot of us at the moment, saving money is high on the agenda. While we’re staying in more and can avoid some of those usual high-ticket expenses like dining out or booking holidays, in other areas of our lives spending has increased. 

Today I thought I’d share a few small ways to save money this month. They’re not groundbreaking, but they might be useful if you’re looking to cut spending by a few pounds or want to try a new money saving habit that’ll also pay off in the long run. So whether you’re saving to welcome a new puppy to your home or to hit a savings milestone, here are five ways to cut spending or save money this month. 

1. Cancel subscriptions

There are so many subscription services out there these days. From TV and entertainment to grocery boxes and beauty deliveries, the list is endless. 

Look back over your bank statements and log into the services you use to see how much you’re spending with them each month or over the year. Think about whether you think it’s worth it, and weigh up the value you and your family see from the service. 

If your subscription services bring you joy and help you stay comfortable and entertained, don’t let them go. But if you find you’re subscribed to three different digital entertainment packages and several subscription boxes, you could find space to cancel one or two of them. 

With most subscription services in the £3-20 per month price bracket, this can put a few pounds back in your wallet every month. 

2. Switch to own-brand products

A lot of us have already made the move to supermarket brand products when it comes to food, but had you thought about switching toiletries too? Next time you’re doing the essential weekly shop, see if you can make a saving by switching to an own-brand toothpaste or shower gel. 

Like with the subscription services, don’t put yourself under pressure to switch out your all-time favourite bath soak for a generic brand if that self care moment is important to you. Instead, see if you can make savings elsewhere – like switching laundry detergent or washing up liquid.

And, if you haven’t already, try swapping out your brand name food products for the supermarket version. You might find something you love better, or you could find it’s not quite to your taste. Over time you’ll work out which swaps are best for your family, so you can save money every week on your grocery shop. 

3. Recreate your favourite takeaway at home

With dining out impossible, some of us have resorted to ordering more takeaways than usual. While this helps keep the local economy going, it’s tough on your bank balance. If takeaways aren’t open in your local area or you want to make savings, a ‘fakeaway’ might be the perfect answer. 

Spend some time looking on the internet for recipe ideas for your favourite takeaway meals. Whether that’s a tasty, authentic pizza or a flavoursome chicken curry, there’s plenty of tried-and-tested recipes out there. 

Here are some recipe ideas that recreate some top takeaway favourites: 

• Chicken fried rice
• Pepperoni pizza
• Chicken tikka masala
• Southern fried chicken

Some of your favourite restaurants might also be sharing their recipes online, like Wagamama.

4. Shop around for deals on utilities and insurance 

If you’re on a standard rolling utilities tariff or you’ve been with the same insurance provider for years, you might find you can make some fast savings when it comes to your energy, broadband or insurance bills. 

Whenever it’s time to renew insurance, I head to Compare the Market and run a search. Often you’ll find a deal that beats your current insurance quote or the renewal, and it’s easy to make the switch. 

The same process can be repeated to find deals on electricity and gas. We’ve recently moved house so this is something that’s been on my to-do list for a while. I’ve found there hasn’t been much variation for me in the past, but you might have better luck. 

As well as looking at the ‘big’ energy companies, research some of the smaller providers too. You might be able to find a promising deal with a lesser-known provider through a comparison site search. 

5. Be more intentional with non-essential purchases

This last one might sound obvious, and you might not be making any non-essential purchases anyway, but I thought it’d be a useful reminder to include. 

There are times throughout the year where we’re making more non-essential purchases than usual. Maybe there’s a holiday coming up or you’re buying gifts for a loved one’s birthday. There’s also home improvement projects, taking up new hobbies, and updating your wardrobe. 

If this month is a busy one for you, take a step back before you click the buy button. Ask yourself a few questions about what you’re buying and where you’re buying from. Could you delay this purchase until next month? Is there a more affordable alternative? Could you group purchases together to make savings on postage? 

It’s important not to get into a negative space about this though. Sometimes on balance it’s better for your wellbeing and happiness to make that purchase than to save a few pounds on an alternative. 

How are you saving money this month? 

If you’re actively saving money this month, I’d love to hear how you’re doing it. Have you cut back on entertainment spending, or maybe you’ve tried meal planning or batch cooking? Leave a comment and let us know how you’re getting on!

Looking for more great ways to save? Check out this post featuring 100 ways to save money in 2021.