As winter and the holiday season quickly approaches, so does one of the potentially most costly times of the year. For inspiration on how to stay financially stable with the funds, we’ve compiled a list of six different savings ideas to help you through the fall and into the new year.

Starting off small

Make humble beginnings by monitoring your weekly spending, cutting down on unnecessary purchases day-in and day-out, and keeping coins stored rather than letting them drop down the side of the couch or onto the floor. Things like these might seem trivial when attempting to save significant amounts of money, but if you don’t get yourself into the right mindset by starting off small, then you’re never going to make it big.

Using the technology you have available

It seems like there is an app for everything nowadays, from tracking sleep patterns to general health, learning to play an instrument, even speaking a secondary language. Saving money, and more specifically, investing, are no different. Many of us already use our phones instead of our credit and debit cards nowadays, with staples such as Apple Pay and Google Pay, and savings/investing apps such as MoneyBox allow you to passively build up a savings profile whilst on the go.

Investing additional funds

Have you got some capital already stored away and want to inject it into something that will grow rather than stagnating in a low/no interest account? Property investment is one of the best investment methods out there currently, and it offers the chance to make a steady secondary income through rental yield payments, if going down the buy-to-let route.

The UK investment market is thriving at the moment, in spite of Brexit, and property investment companies such as RW Invest are looking to northern areas such as Liverpool and Manchester for the best opportunities.

Making your home efficient

Simplifying and assessing your home will not only make you feel more productive as it gets cleaner, but it can save and even make you some money in the process. Clear all surfaces, figure out what you do and don’t need, and sell some things on to kickstart your savings.

Passing on your knowledge

A great step for those with children to take is to invest some time into them to prepare them for the future. Teaching your kids the value and meaning of money and savings from a young age will instil in them a valuable understanding of what you do for them, and help them as they grow to make financial decisions for themselves. It’s not something that most kids learn in school, and who else is going to teach it to them? Parents are the biggest influence on their kids, after all.

Shaving off unnecessary costs

Looking at your outgoings and direct debits each month can be a great way of saving an extra bit of cash, as a lot of us sometimes are paying for things regularly that we don’t use or have forgotten about entirely. Another handy step you can take is consolidating all monthly payments (broadband, phone contracts etc.) to go out of your account at the same time each month, thus giving you an indication of the actual figure you have to play around with.

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