Here are 9 top tips to help families save money

Families are being offered tips to make big savings and make their money stretch further over the course of the year.
Families are being offered tips to make big savings and make their money stretch further over the course of the yearFamilies are being offered tips to make big savings and make their money stretch further over the course of the year
Families are being offered tips to make big savings and make their money stretch further over the course of the year

The penny-pinching pros at NetVoucherCodes.co.uk are offering advice on how to save little and often to make a big impact on pockets.

Challenges include keeping accountable by holding on to receipts, cycling to save on petrol and planning ahead for big holidays.

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Savings can also be made by partitioning money away into envelopes or separate bank accounts

A spokesperson for NetVoucherCodes.co.uk said: “The cost of living is rising rapidly, but in most cases, wages are not.

“It’s looking like it’s going to be a difficult year for people contending rising energy bills, food and clothing costs and soaring fuel prices at the pumps.

“Pushing yourself to save will help long term and make sure you’ve got some spare cash set aside for the next rainy day.”

Here are NetVoucherCodes.co.uk’s money-saving challenges:

Envelopes

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This viral TikTok challenge can help savers bank up to £5000 over the space of a year. Label 100 different envelopes with the numbers 1 to 100. Each week, pick two random envelopes and put the amount that’s written on the inside. For example, if you pick envelopes 6 and 15, you’ll be saving £21 that week.

If you don’t like carrying cash, transfer the amount into a bank account instead. If it’s proving too much, you can always cut down to 50 envelopes to make it easier on your bank balance.

Supermarket sweep

We’ve all gone into the shop with three things on the list but left with a full basket. Avoid this trap by setting yourself a price limit. Get your budget straight before you head through the doors, withdraw the amount you want to spend at a cash machine and leave your card in the car. This way, you can make sure you’re only spending what you need to spend.

Cycling challenge

Some workplaces have a ‘cycle to work’ scheme, giving employees perks for coming to the office on a bike. If your work doesn’t have anything in place, try doing it on your own. Cycle to work and for the smaller journeys you take when nipping out. It’ll help save your petrol money for longer journeys, all whilst keeping active!

Payday challenge

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Anyone wanting to be more responsible with money should set up a direct debit that saves a percentage of your paycheck as soon as it comes in. It doesn’t have to be a lot, sending over £50 a month will boost savings up to £600 over the course of a year.

Account cleanse

Curb impulse buying and casual spending by setting aside a day where you don’t spend any money. It will be tricky for anyone having to, but it’s all part of the fun of the challenge. If you see something you want, it’ll have to wait until the next day and when tomorrow rolls around, you’ll probably find you don’t want it anymore.

Read the receipts

Keeping yourself accountable when spending can be easy by keeping hold of the paper receipts we get given. It’s easy to take this one step further by making a note of the amount ‘You saved….’ printed at the bottom of our supermarket receipt and then actually putting aside these “savings”. It may not seem like much but, in the long run, this is one of those little things that can really add up.

Going own brand

Next time you tackle a big shop, try swapping expensive big-branded products for some of the store’s own-brand items. You may not like the idea of swapping your brand favourites for the cheaper stuff, but a lot of the time they’re the exact same product. Give it a go and find the branded things you don’t mind substituting, or those you refuse to compromise on. We guarantee you’ll make some savings along the way.

Banning bad habits

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The new year’s resolution hype is over, but it’s never too late to knock bad habits on the head. Do you want to quit smoking? Are you tired of missing workouts? Kick your bad habits to the curb and save some money while you’re at it. Every time you find yourself giving in to your vices, put £1 into a jar. This way, even if you do fall off the wagon, you’ll have something positive to show for it.

Planning ahead

Saving is great for emergencies, but it is also important to budget for a little pleasure. Saving for big events like big birthdays, Christmas and family holidays can be tricky, as there is nothing tangible to attach it to. Put money in a separate pot or account each week and by the time it rolls around, you’ll have enough saved to enjoy it properly!