10 Easy Ways to Save Money in 2020!




If you’re looking for ways to start saving money in 2020 but you don’t know where to begin then don’t worry, you’re definitely in the right place. Although it may feel impossible, there are lots of different ways you can save money as we continue into the new year. From setting yourself realistic savings goals to depositing money into a savings account each and every month, you need to be sure you’re doing all that you can to protect your future financially. With that in mind, here are 10 easy ways that you can save money in 2020: 

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- Set Yourself Savings Goals

One of the best ways to save money as we continue into the new year is to make sure you’re setting yourself savings goals. Whether this is a goal of how much you want to save for the whole year or smaller, more manageable goals you can reach each month. If you’re saving for something in particular, you can also set a specific goal of how much you want to save towards that. Although it won’t force you to save, it will definitely help when it comes to motivation. For a guide to setting savings goals, you can visit this site here. 


- Create A Budget Spreadsheet

Another great way to save money in 2020 is to create a budget spreadsheet. Although it may seem complicated at first, a budget spreadsheet simply shows the money you have coming in and the money you have going out. Once you’ve detailed each and every one of your outgoings, it will then show you the disposable income you have to spend each month. Not only that, but it will give you an idea of where you’re overspending. 


- Use An Online Banking App

If you don’t want to create a budget spreadsheet but you want to have a clear idea of what you’re spending and when, using an online banking app is another great option. Not only will it show you what money you have coming in but it will also create a summary of where you’re spending your money. Whether it’s on eating out, groceries or entertainment, you’ll clearly be able to see what you’re spending each month. The most popular choices are either Monzo or Revolut. 


- Make Sure You're Contributing To Your Savings Every Single Month

Another great way to ensure you’re saving money is to make sure you’re contributing to your savings each and every month. Although you may find it hard to do at times, even contributing a small amount will help. 

If you struggle when it comes to saving each month, you may also want to consider starting small. Whether you’re saving £10 or £100, every little helps. You can always increase this amount as you start to improve your financial situation. 


- Set Up A Direct Debit

If you are going to be setting up a savings account, you will definitely benefit from setting up a direct debit that automatically transfers your savings into the account. Not only will it save you having to manually do it but you will also start to get used to that transaction leaving your account each month. As a result, it will feel like it’s not costing you anything at all. If you want to add more a particular month, you can do that too. 


- Start A Savings Challenge

Although it’s not for everyone, savings challenges are a great way to motivate you to save. Whether you’re saving a certain amount each week or you start saving a small amount and build it up as the days pass, having a challenge to compete with will make it much easier to put money away. For a guide to money-saving challenges, you can visit this site here. 


- Sell Some Of Your Unwanted Belongings

If you have lots of unwanted belongings lying around your house and you want to have a bit of a clear out, selling things that may be worth something will help you declutter and save money at the same time. If you start selling belongings, set a goal of how much you want to earn and then put it all into your savings account when you’re done. You may be surprised how good it will feel to have an extra chunk of money to put away. 


- Consider Consolidating Your Debt With A Loan

If you have lots of debt and you’re worried about paying it all off, you might want to consider consolidating it with one easy to pay loan. Although this should be a last resort, consolidating your debt is a great way to reduce the stress. If you struggle when it comes to your credit rating, you may find your only options is a guarantor loan. What this means is you need someone with a good credit score to act as a payee should you miss a payment. If you’re looking for more information, you can compare guarantor loans here. 


- Consider The 30-Day Method

When it comes to shopping it can be hard to kick your habits especially if you’re used to buying what you want, when you want it. It might be hard to get used to but a great challenge to accept is trying the 30-day method, as this will help ensure you’re only making the purchases you really want to make. To put it simply, if you want to buy something you have to wait 30 days to buy it. If you still want it in 30 days time, chances are it’s something you’re going to get a lot of benefit from using. If you no longer want it, it would have been an unnecessary purchase. 


- Follow Money Saving Experts On Social Media

Finally, following money savings experts on social media is a great way to pick up some tips and tricks that may not be listed here. The more advice you’re getting, the better. 


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Are you looking for ways to save money as we go into the new year? What can you do to ensure you're saving as much as you can? Did we miss anything off the list? Let me know your thoughts and ideas in the comments section below.




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1 comment :

  1. thanks for your tips to save money it is bit difficult in new age and is a tricky to save money. Online shopping has lot of advantages especially saving money as well as time. Apart from, I also prefer to use only shopping for getting discounted products as number of stores are offering for their customers on different events. Deals are one of the best way to save money. I normally prefer to use any deals comparison engine such as http://slickukdeals(.)com to get the best and discounted product at my doorstep. Anyways, thanks for your efforts to bring these words to our screens to teach us money saving tips.

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