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How to get started with money saving and planning

Whether you want to get better at managing your money or want to save extra money for a new home or project, it’s always a good idea to review your finances.

No matter what your reason is there are many ideas and resources to help. We’ve put together some money saving and planning tips to get you one step closer to your goal.


Mobile apps for money tracking

Managing your finances can feel overwhelming and boring but now in the digital age there are apps to help make it easier than ever to help achieve your goal.

Whether you want to simply take a look at what you’re spending your money on at a glance or you want help to save extra pennies, there are different apps available that could be what you’re looking for. Even mobile banking apps have useful features.  

If keeping an eye on your credit score is important to you, there are various companies with apps to make it simple for you to view. 


Review direct debits and shop around

From essential bills to non-essential subscriptions, there could be a way to reduce your monthly outgoings. Take a look at each direct debit and see if there is anything you could cancel or switch to a different plan. If you’re the only one using your Netflix account, do you really need the premium plan?

It’s important not to overlook reviewing what you’re paying for the necessities. It can feel like a hassle to switch providers but it has the potential to save more money than you might think over time. Comparison websites make it easier for to look at alternatives.


Savvy switches

It sounds simple but making small swaps can make the biggest difference. The little things really do add up. This can be done in so many ways, once you know where you’re spending the most of your money you might find areas you can be savvy with your spending. 

Here are a few ideas to get you started:

  • Buy own brands groceries or try shopping at more affordable supermarkets
  • Cancel the gym membership and try YouTube videos - there is a huge variety of classes available
  • Take out a book from the library or swap with friends instead of buying new
  • Make your favourite food and drinks at home instead of getting takeaway coffee or pizza
  • Buy reusable items instead of disposable – it’s also good for the planet

Think of it like a challenge and remind yourself why you want to make the extra savings.


Mortgage and insurances

Your mortgage is likely one the largest financial commitments you will have. It’s important that it’s right for you and that you have the suitable insurance in place to give you peace of mind in the event of unexpected circumstances.

Seeking advice from an expert can help make sure you’re not paying more than you need to on your mortgage, it could save you thousands. They also search for the mortgage and protection products that suit you. Get in touch with your local mortgage and protection advisers in Leeds to find out how they can help. 



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