Most people have one thing in common: we’d all like to save a little more money. But with the cost of living on the rise and the average income always struggling to keep up, saving money isn’t always a top priority.

However, although many of us are feeling the pinch, there are ways that you can save a little more money each month. Whether that’s saving for a rainy day, saving for a holiday, a house deposit or just so you have a little breathing room in your bank account in case you have a sudden unexpected expense, saving is something everyone should try to do. Wondering how it can be done? Read on for a simple guide to saving money each month.

Check out a stocks and shares ISA

Saving is one thing, but actually making your savings work for you is something else you should consider. A stocks and shares ISA from Wealthify is a great way to get the most out of your money – over time your investment or savings gain interest and you don’t pay a penny in tax. You can save/invest as much as £20,000 each year, so click the link to find out more.

Pay yourself first

Many of us consider savings as more of an afterthought. We’ll pay all our bills, have some set aside to enjoy a treat or two and then whatever is left we might save or allow to roll over into next month’s funds. This attitude to saving usually means that progress is slow, which again makes us feel discouraged to save anything at all! Next time you get paid, consider saving as high a priority as paying your bills. Therefore, pay yourself first. Whether it’s £10 or £200, as long as you dedicate yourself to saving, you’ll make progress.

Use price comparison websites

They’re advertised constantly, so there are plenty of sites from which to choose. From your insurance policies to your utility bills, broadband and mobile phone providers, if you haven’t compared prices in the last 12 months, start now.

Cancel unused direct debits

Many of us are paying for a monthly service that we don’t even use. From gym memberships to online magazine and newspaper subscriptions. Go through your monthly expenses and cancel anything that you don’t want, need, or use. It’ll free up some extra cash that you can put directly into your savings.

Plan your weekly meals

Food is a huge expense. So, never hit the supermarket without a menu in mind and a shopping list. It prevents any unexpected surprises at the till and unnecessary food wastage in the bin.

Follow these tips and you’ll find that you’re saving money each month without too much effort.

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