Being able to save money is always going to be a useful skill to have. Whether you are good at saving money or want to improve, there are always methods that you can apply to your daily life to improve and save more.
There are so many different reasons and motivations for why people save. Some people want to save more so that they can buy their first property, while other people want to save for a holiday they have always dreamed of or a dream car. Another good reason to save is to be able to buy nice items for yourself, such as a new phone.
Recently, Apple launched a new iPhone, which has brought down the price of some refurbished phones, like the iPhone 15 and 14. This makes it the perfect time to start budgeting for a replacement phone, which is why we have put together our guide on how to budget for the latest iPhone.
From using the roundup feature with your bank to using a budgeting app and shopping online, we have put together a range of ways you can budget better and save more money. Keep on reading to learn more, and soon you’ll have saved enough to buy your iPhone refurbished.
Use the roundup feature with your bank
Many banks offer a roundup feature, which can be an effective way to save. When you make a purchase, the bank rounds up the transaction to the nearest whole number and transfers the difference into a separate savings account. For example, a £2.30 purchase would result in £0.70 being added to your savings. Over time, these small amounts can accumulate into significant savings. Our advice would be to set this up straight away and give it a go, as it’s helped a lot of people save.
Shop online
You may not be aware, but online shopping is often cheaper than if you shop directly in a store. More often than not, retailers offer better discounts if you shop with them online than in-store, and the generic price can also be better. A good example of this would be your food shop. When you order a grocery delivery to your home, a lot of supermarkets will give you £10 or £15 off your shop when ordering it online. If you went into their supermarket on the day to shop with them, they wouldn’t give you this discount. When doing this, keep the savings you make and place it into a separate account. Just like using the roundup feature with your bank, you’ll see your savings grow slowly.
Use a budgeting app
In today’s world, there is an app for everything. You can use an app to open your car, an app to track what you eat, an app to track how much water you drink, and in this case, you can use an app to help you budget for the latest iPhone. Budgeting apps are great as they will give you daily tips on how to save better and are available with a few clicks of a button on your phone. The best thing to do is to read the user reviews of the different budgeting apps to see real-life examples of how they have helped other people.
Use cashback sites
Have you heard of a cashback site? The idea is simple: when you purchase an item, they will give you a small cash back at a later date. The amount they will pay you back will vary depending on the purchase you are making. More often than not, higher ticket items, such as a TV, will pay a greater cashback than smaller items, like your weekly toiletries. Over time, using cashback sites can save you a lot of money, which you can save in your savings account and gain interest on.
Search for free activities
Instead of spending a lot of money on activities on the weekend, search for free activities and then save the difference. You’ll be amazed at the number of free activities being offered in your local area that you may not have known of when you start to research them. Even if you have to travel to get to an activity, the chances are it will still be cheaper as it’s free, instead of paying for one nearby. When doing your research, you will also come across cheaper activities which you could do, as this will also help you save money.
There are so many ways to budget and save more. We hope our suggestions have given you some inspiration and ideas of how you can save more in the future. What recommendations would you suggest to someone trying to save money and budget? Which of the above tips did you find most useful? Is there anything missing in our guide that you think we should be adding? Let us know in the comment box below, we look forward to hearing from you.