September marks a natural turning point for financial assessment and a strategic reset before the holiday season and colder months arrive. Financial influencer Gemma Bird, known as 'Money Mum' on Instagram, has outlined 27 accessible money-saving strategies that can collectively lead to significant savings over time.
Energy Efficiency and Home Maintenance
Bird emphasizes proactive measures to reduce household expenses. Reviewing energy tariffs in October, before the winter heating season, is recommended. Using comparison sites or directly contacting providers can help secure better rates. Checking for existing credit from summer usage can also offset increased winter consumption.
Before turning on the heating, bleeding radiators is advised. This process, which can be done with a radiator key, ensures radiators function efficiently by removing trapped air. Simple acts, like only boiling the amount of water needed for one or two cups of tea, can also contribute to energy savings.
Preventative home maintenance is also highlighted. Draught-proofing doors and windows with inexpensive tape can prevent warm air from escaping and cold air from entering. Similarly, checking and cleaning gutters before autumn rains begin can prevent more costly water damage. An annual boiler service is crucial not only for safety but also for ensuring efficient operation heading into the colder months.
Bird also suggests only heating rooms that are in use, turning off radiators in spare rooms, and ensuring all non-essential electrical items are switched off when not in use.
Smart Shopping and Budgeting
Managing grocery expenses involves using in-store scanners to track spending in real-time, helping shoppers stick to their budget. For those prone to impulse buys, using only their hands to carry items instead of a basket can limit the number of additional purchases.
Reviewing bank statements from the past six months can reveal spending patterns, such as frequent coffee purchases or subscriptions, which can then be adjusted. Bird also advocates for saving money on payday by paying bills and immediately setting aside a savings amount before living on the remainder.
Batch cooking, particularly stews and casseroles, can make expensive ingredients like meat go further by bulking them out with cheaper vegetables. This method also utilizes the oven for multiple meals at once.
Preparing for Holidays and Gifting
Bird suggests starting to spread the cost of Christmas purchases in September, buying a few gifts each month to avoid a large financial burden in December. Children's Christmas presents can be sourced second-hand from charity shops or online marketplaces. Additionally, buying items for the following summer while they are on sale can offer significant savings.
For travel, setting up flight alerts using tools like Google Flights can help identify deals. Comparing different airports and considering alternative departure locations or even modes of transport, such as trains for shorter distances, can lead to substantial savings. When booking accommodation, searching for the property directly or on other sites after finding it on platforms like Airbnb may uncover lower prices.
Loyalty points from store cards and credit cards should be reviewed, as they can often be redeemed for greater value on days out rather than in-store purchases. Utilizing cashback sites like TopCashback before making online purchases can also generate returns, especially for frequent online shoppers.
Financial Health Checks
Bird recommends reviewing ISA and pension contributions around the middle of the tax year to see if contributions can be increased. For individuals facing financial difficulties, resources like EntitledTo can help determine eligibility for benefits and support.
Before making purchases for a day out, checking for discounts through supermarket coupons, magazines, attraction websites, or loyalty programs is advised. However, Bird cautions against buying something solely because it is discounted if it was not already planned.
These 27 tips offer a comprehensive approach to financial management, with the understanding that even small, consistent changes can accumulate into substantial savings over the year.