How to save even when you can’t

Rubbish at saving? These easy tips will flip your saving goal from daydream to reality.

Save £5 a week

A fiver isn’t much, but times it by 52 and suddenly you’ve got an extra £260 a year which isn’t to be sniffed at. That’s a shopping spree or weekend away. Just put £5 cash a week into a saving pot or set up a direct debit into a separate savings account to benefit.

Get a cashback card

If you’re debt-free and disciplined, a cashback credit card is a fantastic way to save money. Spending and saving at the same time – amazing. The best cards offer 5% cashback for the first three months and 1% thereafter. Treat it like a debit card by using it for every day purchases, but remember to pay the full balance every month by direct debit or you’ll get stung for interest.

The 24hour rule

For every luxury purchase you desire, impose the 24-hour rule. Window shop, try it on, put it back, go home. Over the next day, do you miss it? Can you think of nothing else than those divine shoes or new phone? Is it a need or a want? This cooling off time cuts down on impulse buys and saves oodles of cash. If you find yourself back in said shop the next day, then ok, it’s allowed.

Switch accounts

A great way to make instant cash is to switch bank accounts. Right now some banks are offering £100 cashback to open a new current account with them. Why wouldn’t you do this? It’s a no-brainer.

Sell old stuff

Everyone has old things lying around the house they don’t use anymore. Time to declutter and make a few bucks from those clothes, appliances, DVDs, - anything you’re no longer using. Buy and sell apps like depop and shpock make it simple – just upload a pic of your item with a description and wait for offers.