Unfortunately, the cost of living only goes in one direction – upwards. And, if your wages are not keeping up with the rises, relatively speaking, you’ll have less and less money to get by

. Earning more is simply not a practical solution for many people. Instead, you should think about the practical steps you can take to reduce your spending and put more money towards achieving your long-term financial goals. 

We were inspired by this composite of money-saving tips to help people save money in all walks of their life and we thought we’d add to that list with a few suggestions of our own, bringing your grand total of tips today up to a very thrifty 46! 

1. Become a member of your local library

Public libraries are a fantastic resource and one that’s underused by the majority of people. Libraries these days have a huge collection of books and audiobooks, films and music that you can borrow, and as long as you return them on time, there’s absolutely nothing to pay. 

2. Use price tracking websites

Price tracking websites reveal all the prices an item you want to buy has been sold for over the past year. That helps you see past the supposed discounts on offer so you can get a great deal. You can also set up email alerts, so you’ll be notified when the prices fall. 

3. Do your food shopping in the evenings

The evenings might not be your favourite time to do the food shop, but after 6pm, many supermarkets start heavily discounting the items that must be sold before the end of the day. If you’re willing to be flexible on the brands and products you buy, it’s a great time to bag a bargain. 

4. Introduce a ‘no-spend day’ every week

A ‘no-spend day’ is a day when you spend absolutely nothing, apart from the cost associated with travelling to and from work. Exercising self-restraint in this way not only gives one incredibly cheap day a week, but it also makes you think more carefully about your spending the rest of the time.

5. Withdraw cash for nights out and leave your cards at home

Are you fed up with spending half your weekly budget on a single night out? Withdrawing cash before you go out will prevent you from becoming too trigger happy with your debit card after a few drinks.  

6. Always ask for tap water in restaurants

Don’t buy expensive bottled water in restaurants. Establishments that serve alcohol are required by law to give customers free tap water, so don’t be afraid to ask for it. Switching to tap water could save you a considerable amount over the year if you regularly eat out.

Do you have any money saving tips of your own?

Please share your best money saving tips with our readers in the comments section below.