Money Saving Tips For 2020

saving money

As we enter a new year many people are feeling the pinch this January, and after the Christmas holidays, everyone is done with overspending and keen to their finances back under control.

We have rustled up our top money saving tips that you can roll out in 2020 so you can prioritise your money and get saving.

Get A Budgeting App

Ok so a budget is always a good place to start, but this is 2020, and we can use technology to help us better achieve our budgeting goals.  A budgeting app can also help you to get deeper insights into your spending habits.

Save Your Change Automatically

More and more banks, especially the new online banks, are letting you round up purchases to the nearest amount you want, then depositing this into a savings account.  Banks like Monzo and Revolut already let you do this with any electronic purchase.

Switch Your Bills

Great deals on your utilities, internet and insurance rarely last and are usually an introductory rate design to draw you in.  What can you do about it?  Well at the end of your contract you can switch supplier a get onto another introductory rate.  There are even services like look after my bills that will switch your energy supplier automatically for you.

Switch Your Mortgage

For a lot of people their mortgage payments are their biggest money outgoings, so it can be worth looking to see if you could save money by remortgaging.  This is where it can help to get advice from a mortgage broker, as there could be early repayment fees and other charges involved in the switch.  It is always best to check first and a broker might be able to get you deals that are not available elsewhere.