12 Ways Your Family Can Save Money and Add £5K in Your Bank Account

Money is hard to make and easy to spend, but does that mean we cannot manage to save enough of it? Nope. In fact, you can save as much as £5,000 over the next year once you know what to do and that’s just what we’ll be sharing in this post.

1. Lower your bills by consolidating your debts

If you feel your credit rate interest rate is too high, consider consolidating and refinancing. Look out for credit with better terms and make the switch.

2. Make extra money with your car

If you haven’t tried services like Uber yet, you might want to consider it. If your car meets the requirements, you can let it make money for you instead of leaving it in the garage or parking lot.

3. Open a new bank account

From time to time, banks offer juicy promotions to encourage people to open accounts with them. If it means making a bit of cash, take the deal.

4. Entertain the kids at home

You don’t have to buy tickets to a show every other weekend. It’s your time that’s more important to them, so stay at home and make pancakes together.

5. Cut down on subscriptions

Whether it’s on-demand TV or music streaming, there may be services that make recurring deductions from your account on a monthly basis. Review all of them and get rid of those you don’t need.

6. Get a card that lets you save on holidays

Holidays can be expensive and it gets even costlier when you are charged for every purchase made abroad. With a card like B Credit Card, you’ll able to make payment nearly anywhere in the world without a charge.

7. Watch less TV

If you spend a lot of time watching TV, you might want to consider cutting down. Not only will you reduce your electricity bill, but you might save money by downgrading your subscription and reducing your exposure to ads that would ordinarily induce you to spend.

8. Sell stuff you don’t need

How many of the items in your home do you really need? When you sell the stuff you don’t use online or in a garage sale, you not only make some extra cash, but you also get to declutter your home.

9. Don’t toss your clothes, repair them

It really doesn’t take much to learn basic sewing skills. You can save a lot of money by fixing a broken button or patching up a hole in your trousers. If you’re a DIY fan, you can even repurpose old clothing.

10. Home entertainment

Don’t bother going out with friends; invite them over instead.

11. Budget

Budgeting never goes out of fashion. You can download any of the many budgeting apps available to make it easier.

12. Take a walk

Instead of driving to the store around the corner, take a walk. You’ll save money on fuel and get some exercise.