How to Save at least £50 a month (without getting a pay rise)

28 Jan 2010 Tell a Friend

One of the main reasons for the financial struggle in the week before payday is not a lack of money as such, it's a lack of organisation.  With a small amount of planning you can get to the end of the month before your funds run out, and even have some left over. Below are some tips to get you off to a good start.

1. Have one less cappuccino a week and don't go at weekends

It's just one cappuccino, what harm can it do?  Well, it can make quite a dent in your wallet for one thing.  If you normally fill up on caffeinated froth every morning, plan to go without on Wednesdays, for example, and go cold turkey at weekends.  Check out our free Starbucks habit calculator to see how much your coffee habit is setting you back (equally applicable to other coffee brands obviously!).  In the SimplyFinance team, we were pretty surprised by our combined coffee spend and are now taking steps to kick the habit, or at least switch to instant.

2. Bring your lunch into work at least 2 days a week

Let's face it, we are all aware that making a sandwich is cheaper than buying one, especially when you're buying one of those elaborate ciabatta creations every day that will set you back a fiver a time.  For most of us, the problem is not a lack of awareness, more a lack of time and a shortage of ideas.  Well, it's time to get creative - a homemade lunch doesn't have to be a slightly squashed sandwich in your desk drawer.  If your office doesn't have a microwave, bring in a thermos of soup and a big salad in an airtight container.  There are some great ideas here, or just search online for 'lunch ideas'.

3. Shop online to avoid the 'magpie effect'

That's right, the moment when something shiny catches your eye, and the sensible winter scarf you went in for turns into three T-shirts (on offer) and a pair of boots.  And whichever way you look at it, 3-for-the-price-of-2 is not a bargain.  You didn't want three books, you wanted one book, and now you've paid double for it.  The best way of avoiding the sneaky false bargains is to not put yourself in temptation's way.  Shop online wherever possible, especially for groceries.  In some online supermarkets, you can even keep all your regular purchases in one place.

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