Shoppers in Northern Ireland know the difficulties of saving on their regular expenses. Inflation is driving prices through the roof and bargains seem to be evaporating before our very eyes. Thankfully, there are still many ways to save if you know the right places to look. Here are a few tips that can help you put lower your regular expenses.
Save on your weekly shop.
You can cut down quite a lot on your weekly shop by checking what’s on offer at a few local shops. Dunnes Stores, Tesco, Aldi, and Lidl — to name just a few — are in constant competition to lower prices on select items. Taking advantage of this price war can save you a ton of cash, but it will require a little more dedication to finding coupon codes, taking trips to a few shops, and saving receipts after purchases. Since lockdown began, shopping in both the Republic and Northern Ireland have skyrocketed, both in retail and grocery buying. This means there is more competition than ever to give you incentives to frequent this store over that one. Take advantage of the increased need to slash prices and shop around for the best deals on all the necessities you buy every week anyway.
Swap energy suppliers to lock in savings.
In all corners of the UK, homeowners and renters alike are able to take advantage of energy supplier savings by changing their supply company to benefit from reduced rates. Northern Ireland electricity suppliers all publish lists of current pricing per kilowatt hour, and it is your prerogative to stick with your current supplier or change over to a new one – at any time. This is especially helpful during the winter months when sunlit hours dwindle and electric-powered rads and water heaters are running overtime to produce comfortable homes and showers, and keep your dishes and clothes washed with water heated to the optimal temperature. It’s incredibly easy to research your options and make the swap to a new supplier who could save you hundreds of pounds over the course of the year with a simple phone call.
Invest your extra cash.
Investing is a great way to save money. Tossing a few pounds in your low-yield savings account every month on payday is one option, but there are countless other ways to invest and turn a real profit on your money. Many investors ask if these alternatives are worth the effort — is Yieldstreet legit? In short: Of course! Any investment you can make that is both legal and offers a great potential yield is worthy of your time. Beginning with the stock market and checking out alternative investments like gold, real estate, or even artwork are all great ideas for making your money work for you. The more you can put away, even if you start with just a few pounds, and the longer you can leave it in an investment portfolio the more you will earn on those savings. In addition, many investment opportunities come along with the added benefit of use as collateral for buying new property. When you decide to look for a new home or car, many of your savings mediums are eligible for leveraging in order to obtain a better interest rate or repayment structure on the bank loan.
Saving doesn’t have to be hard, and there are opportunities to lower prices on nearly everything you purchase on a daily basis. You simply have to get creative in order to make use of the saving schemes available to you. One way to evaluate where you can save the most is by rethinking your monthly expenses as percentages of the whole rather than price figures. Viewing your budget this way can help you to identify places where you are overpaying in order to make corrections. Make a commitment to saving now in order to take advantage of your capital later when it counts.
To read more on topics like this, check out the Finance category