A boost to your financial health in 2022?

Let’s be honest, the New Year’s resolution we always make – and often struggle to stick to – is to save money. Do you need a boost to your financial health in 2022?

With rising inflation and soaring energy bills, it’s vital that we keep our finances on an even keel in 2022, which is why we’ve rounded up these simple tips.

Use a budgeting tool – Spend some time drawing up a budget for the year ahead. There are masses of online budget calculators that do most of the work for you, such as the downloadable planner from MoneySavingExpert.

Trim food costs – With food costs rocketing, most of us will notice the difference when we fill up our trolleys. But there are easy ways to save cash, such as batch cooking and downloading the Latest Deals app to find the cheapest items at a range of supermarkets. Check out first time shopper grocery codes too.

Spend mindfully – Before you open your purse or wallet, think whether you really need the item or if you can afford it. It’s also worth considering whether a particular emotion is prompting you to spend.

Cancel or pause unwanted subscriptions ­– Scrap unnecessary subscriptions such as that magazine you never read or streaming service you rarely watch. Set a reminder in your phone for when free trials end. 

Save energy – There are many ways to make your home more energy efficient. Tips from the Energy Saving Trust include fitting draught excluders and switching standard light bulbs for LEDs.      

Sell unwanted items for cash – The options to do this for free are endless. eBay, Vinted and Facebook Marketplace are easy for even the most technophobic seller to understand, and you’ll be pleasantly surprised by what people will take off your hands.      

Buy the cheapest petrol – The PetrolPrices app gives you the price of petrol and diesel at stations across the UK. If you’re unable to check out prices, try to avoid buying petrol at motorway service stations, where the cost is usually more expensive than elsewhere.         

­Make pennies count – Most supermarkets now have machines where you can convert loose change into a voucher to be spent in store or cash, for a small transaction fee. There’s something very satisfying in watching the pennies turn into pounds.     

Repair and buy second-hand – Don’t throw a shirt without a button or a jumper with a hole away. Clothes are easy to repair and YouTube videos offer plenty of tips if you lack confidence. Before buying brand new, visit your local charity shops.    

Earn cashback as you spend – When you shop online, see if you can earn cashback on your spending though sites such as Topcashback.co.uk and Quidco.com You can also earn money for a favourite charity via the Easy Fundraising website.

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