Welcome to this month’s edition of Senior Snippets: the monthly advisory column with the older members of our community in mind brought to you by Home Instead in Watford.
In this article, I will be providing you with some useful tips on how to save money. Budgeting is an important tool to use no matter what your age and there are a few practical steps you can take to save a little more.
- Work out what you spend your money on. Making a list of everything you spend money on and identifying unnecessary spending will help you to make cuts each month.
- Don’t impulse buy. Although you may instantly be drawn to something in a shop, ask yourself if you really need it and think carefully before making the purchase. Sleeping on a purchase overnight can often change the way you see it.
- Shop around. It is always worthwhile to compare prices and research the competition. Supermarkets will often compete with each other – use this to your advantage and search for cheaper options.
- Beware of special offers. Never buy something you don’t need just because it’s on offer. Vouchers and special deals are designed to make you spend more, not less.
- Collect change in a jar. If you have loose change in your wallet or purse, it’s more likely to be spent or disappear down the back of the sofa. Saving a few coins a day soon adds up and you’ll be able to deposit them at the bank- more savings!
- Go generic. There's no need to spend extra money on certain goods just because they’re from a name brand. Over the counter medicines, food and cleaning products often include the same ingredients – just with a fancier name!
It's possible to improve your finances just by slightly changing your usual habits. Give these tips a try and see how much of a difference they can make!
I’d love to hear from you! To make a suggestion for a future topic, please write to me at [email protected] alternatively, you can also call me on 01923 250513