Helpful Ways You Can Save Money In 2025
- Money Mentor
- 38 minutes ago
- 4 min read
If you are looking to save money this year, we don’t blame you. The economy has been pretty bad the last few years and it’s a good idea to start building up your savings so that you have a little nest egg to fall back on in the future. But, saving money isn’t always the easiest thing to do when you’re already trying to stretch your income as far as you can.
For most people though, there is something that they can do, they just may not have thought of it yet. That’s where we come in. In this article, we’re going to be discussing some of the helpful ways that you can save money this year, hopefully putting yourself in a better financial position going forward. It might not always be easy, because tightening your belt is never fun, but we promise it’s worth all of the hard work that you’re going to have to put in. Keep reading down below if you would like to find out more.Â
Create A BudgetÂ
The first thing that we’re going to suggest is that you create a budget if you don’t already have one. If you do have one, then you need to go back through it, ensuring that it accurately reflects your financial situation. What’s the point in having a budget if you don’t update it?
But, let’s take it back to the beginning. If you don’t have a budget, then you need to create one. To do this, you’re going to need all of your incoming money, and a list of your outgoing expenses. It’s a good idea to write down exactly how much each costs, and what date of the month it will be taken from your account.
Using this, you can tally up the total that you’re spending, and then take this away from your total incoming money. What’s left is the money that you have left for yourself. Some people then decide how much to put into savings from there, while other people budget the money they want to save in their list. Whatever way you want to do it is fine, just make sure it works for you and money is going over every month, even if it’s only a small amount.Â
Reduce Streaming Sites
If you’re someone who has all of the streaming sites because you don’t want to miss out on anything, it might be time to reduce them. You likely don’t need all of them, and at this point it’s turning into a waste of money. So, the best thing that you can do is look at the ones that you don’t watch stuff on very often and then get rid of them. If there are any where you pay for multiple screens, it might be better to get rid of the extras and just drop it down to one.
You may be hesitant to do this, but it’s worth it. It may not seem like it because the savings will be small, but when you do this across four or five streaming services, it will make a pretty decent saving overall.Â
Use More Than One Shop For Groceries
This is actually quite common for people to do, but if you’ve never thought to use more than one store for groceries, you definitely should. Some stores have items that are cheaper than others, but they are still the same or very similar quality wise. We know that there are certain items you’re going to want from certain places - we’re all like that! But, for items that you’re not too bothered about being certain brands, then finding them cheaper elsewhere can save you a lot of money. This money can then be used for something else, freeing up more of your budget, or even enhancing how much you put into savings.Â
Look At InvestingÂ
Another way to save money is to make money. You can invest in different things, kind of like starting your own side hustle. A side hustle can make you money when you need it the most, however, you need to find something you enjoy doing. A side hustle is something that is done on the side of your typical nine to five position.Â
An option for a side hustle could be investing with a company like new capital link, you can invest small or big amounts and watch the returns flood in.Â
Pay Off Debts Little By Little
If you are lucky enough to have debt that has built up over the years then now is the time to pay this off! You don’t have to look at your debt as one big payment and this is what people tend to do a lot of the time. However, many debt companies will accept smaller payments towards your debt. As long as you are making some sort of payment, then it doesn’t matter how small it is. What is important is that you can afford these payments, and companies will check this at the time of signing up.Â
If you want to pay one debt off at a time then you can make bigger payments towards these ones. That way you can focus on clearing one at a time. This can take longer but it is far more satisfying than watching smaller payments take ages to clear.Â
Switch Suppliers
Finally, consider switching suppliers for all your energy and mobile contracts. There will always be providers that are slightly cheaper, however, do they offer the same customer service and help you have already received? Check out your existing providers to see if they can switch your tariff to another one, a cheaper one. For instance, sometimes it is recommended to change to a fixed rate on your energy as this can save you money.Â
Do your research, perhaps use comparison sites online to find out more. There is no obligation to sign up to anything, you are just shopping around.Â
Hopefully you found some ideas in this article and it gave you some helpful ways to manage your money and save more in 2025. Everyone is feeling the pinch so making small changes can make a world of difference.Â
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