Inflation is the highest it’s been in decades and you aren’t alone if you are feeling nervous about your finances. The cost of living crisis may seem overwhelming, so here are some helpful tips to help you feel on top of your money. Read on for 5 small ways you can be more cash confident.
Know your money
It sounds obvious but so many of us don’t keep track of all our pennies. If you are struggling, take a deep dive into your bank account and look at where your money is going. It can seem overwhelming but there are so many resources that can help. For example, Monzo bank tracks your money for you. It automatically separates spending into sections eg. petrol, groceries, shopping and eating out. This way you can easily see what you are spending where and allows you to cut back on areas of overspending.
Check your directs
Research done by NatWest shows that the average person in the UK is spending an average of £39 a month on things they don’t want or use eg. phone contracts, gym memberships, and subscriptions. This adds up to £468 a year. Now more than ever is a good time to check all your direct debits, and make sure you know where they are going and if they are essential. Beat the cost of living crisis by only paying for what you need.
Batch Cooking + Bulk Shopping
UK households wasted £13.billion on edible food in 2018, on average that means each household threw away £496 of edible food per year. Ouch! One way to reduce food waste is to plan your meals. For example, including the same ingredients in a few recipes means you are less likely to have leftovers, getting more for your wallet and your belly. There are lots of meal plans on the internet that might help, one being Sorted Food. They offer recipe packs with 3 recipes and the ingredient list resulting in zero food waste.
Bulk shopping is also a great option, whilst upfront the cost is larger you will save more over time. The Sun found that buying bulk halved the weekly food shop! Plus there is less packaging waste, so it’s a win-win.
Whilst bulk buying is great for nonperishables it’s not possible with fresh groceries. If your local supermarket is pricey, it’s worth traveling that bit further to purchase at a cheaper one. Using apps like lastestdeal. co.uk allows you to compare supermarket prices so you can choose the best place to shop.
Energy Efficient
We all know how much energy prices are rising and it can be quite scary. Save money by making some changes, and don’t worry they don’t have to be big or expensive. Read our blog post on cheap ways you can save money on your energy bills. From thermostats to combi smart valve’s, find easy tricks to save you pennies.
Sell what you don’t need
If you are anything like us, there are lots of items in your home that you no longer use and love. When money is tight, selling off old stuff for someone else to love can be a handy way to get some extra income. Use websites like eBay, Facebook market place and Gumtree to shift furniture, appliances, and general clutter that you no longer use. Depop and Vinted are easy places to sell clothes. Not only will you have more money and more space but you’ll also be choosing a sustainable option by giving your possessions a second life.
What we are doing
Price hikes are bonkers at the moment. Right from the outset, we always wanted our products to be accessible to all. Choosing sustainable cleaning products can be a big adjustment, and because of this, we want to make the transition as smooth as possible. That is why we aren’t raising our prices for the rest of the year.