25 Proven tips to save money and build financial freedom

How to save money and build financial freedom seems to be more appealing to us now than ever before. And it’s no longer just about saving money, but making it work for you in various ways. The trouble is, we struggle to have the spare cash to start that side hustle, or invest that little bit left over; because most of the time, we have nothing left over.

Saving money comes from good spending habits, and if your parents didn’t instill this into you as a child, chances are you don’t know how to create nor keep good money habits. You’re not alone. More people struggle with how to save money and financial education than we realise, particularly women; which is why I started this blog. We deserve to know good money habits and take control of our finances, so let’s dive in.

Side note: If you haven’t already, I’d highly recommend you read the famous book Atomic Habits to incorporate good money habits into your lifestyle and stick with them – honestly, it was a game changer for me.

We all know adulting comes with bills, responsibilities, and the occasional temptation to splurge. But fear not, because I've got 25 solid gold tips that will help you get your finances in order to start saving money.

1. Gameplan your budget

Time to get real about where your money is going. Whip out that spreadsheet or a budgeting app, and track your cash flow like a pro. Look back over the previous 6 months and note where your money was spent. Once you’ve written it all down and have a holistic view, you will start to see your spending pattern, and from there, you’ll be able to spot places you can cut.

2. Goals, goals, goals

Think about what you really want – that long awaited vacation, a deposit on your first home, or maybe even a comfortable retirement. It is also always wise to have an emergency fund in place for life's unexpected twists and turns. Having targets and savings goals makes saving money way more motivating. Split these targets out into long and short term goals, (smaller and big savings), I have another blog on how to set financial goals if you get stuck.

3. Money first, fun second

Before you hit the shops or your favourite coffee spot, channel some cash to your savings accounts like a champ. Getting into the mindset of paying yourself first will take you a long way. If you have a financial goal to hit with your savings, make sure that’s sorted before you think of any cash as disposable.

4. Automagic savings

Set up autopilot transfers to stash cash away before you even notice it's missing. I always suggest automatically transferring your savings by direct debit right when you hit payday, preferably into a separate account. This way, the money is out of sight out of mind and is out of the eyeline of temptation in its own little savings pot.

If you don’t have a separate account for your savings yet, read why you should, here.

5. Get out your chef’s hat

Skip those pricey takeaways and embrace your inner chef. Cooking at home isn't just wallet-friendly, it's like a boss-level life skill. You're not only saving money, you’ll most likely eat healthier too.

6. Hunt for deals

Scour for discounts, clip those digital coupons, and become the ultimate bargain hunter. If there’s a sale on, it could also be worth stocking up on necessities like washing powder, toilet roll, etc. It never hurts to think ahead when prices are low, and no, I don’t mean two pairs of shoes for one at Zara.

7. Say no to impulse buys

That "must-have" handbag? Give it a pause. Incorporate the 3 day rule I love so much – if you still want it as much on day 3 as you did on day 1, then get it, if not, leave it. This is a good one for shopping online, as it's so easy and convenient nowadays, we don't always realise how much we're spending.

Bonus tip: Withdraw a certain amount of cash a week for discretionary spending, and leave your debit card in your purse. If you pay cash, it's easier to monitor how much you're spending and you're less likely to go over your monthly budget.

8. Prep before you shop

My husband is the king of this, he writes down everything we need to buy for our shopping for the week and when he sets foot in that shop he’s like a military sergeant on a mission. To complete his list, he will not look/touch/smell another single thing in that shop. He makes no eye contact, he makes no conversation, he gets his stuff on his list and not a single thing more or a single thing less. Be more like Chris.

9. Avoid brands

Another Chris classic – avoid brands at the supermarkets. You’ll notice when you go shopping everything that is branded is always at your eye level, if you look towards the bottom of the shelves the unbranded (and cheaper) options that taste practically the same are also there for purchase. Buy the product, not the name.

10. Be mindful of utility bills

Think of your energy bills. Unplug stuff, turn off lights, and put a jumper on if you’re cold. I am by no means saying freeze to death in peak winter, but sometimes we choose convenience and it’s easier to put the heating on than go upstairs to get a jacket. Household expenses can be a killer on your bank account, so be mindful of what you need vs what you're using. If you can afford it, it may also be wise to look into upgrading to energy efficient appliances around the house.

11. Use public transport

Ubers and driving can drain your wallet, so hop on a bus, share rides, walk or bike your way to cash nirvana. Again, convenience comes in a lot here. Should you hail a cab or walk the 20 minutes to the office? Walking would be more beneficial for your purse and your health, so consider your choices where you can.

12. Bill negotiation

So many people don’t do this but it's worth repeating every 6 months. This is one of my favourite tips on how to save money. Take your meter readings, and call your energy suppliers. A lot of the time they go on estimates, and could be grossly overcharging you. 9 times out of 10 if you call to negotiate your bill with the providers, you can get a cheaper deal. Keep this up consistently and review your bills regularly. You'll be surprised at how much you can slash those bills.

13. Unsubscribe, unsubscribe

Time to get rid of those small subscriptions you don’t necessarily need. My weakness used to be Birchbox, it cost me £15 a month to be part of the new and upcoming makeup and skin care trends and ended up with a drawer full of samples I’d never once touched. So ask yourself, do you really need apple music and Spotify? Netflix and HBO? Icloud storage plus google storage? Do you need Amazon prime when you order from there once every 3 months? Time to declutter your inbox of those subscription services.

Unsubscribe from those online shopping emails that have been sabotaging your bank account also.

14. Prepare your lunch at home

Brown-bag it and watch those savings pile up over time. So much money is spent during lunchtime in big cities it’s eye-watering, if you save £5 a day by taking lunch from home into work, you’d save £100 a month.

15. Get your thumbs green

Start a mini garden for fresh greens and herbs. It's eco-friendly and saves you some green, too. They are in tiny pots and can sit on your kitchen window, easy to keep alive and will help you create those amazing home cooked meals.

16. Dump the disposables

Swap out throwaway stuff for reusable gear, and do your bit for the planet while saving some dough. Places like Starbucks offer discount if you bring your own cup in for coffee, there are also free water fountains around the place to save you buying water.

17. Loan remix

If you've got loans, look into refinancing, especially if the current interest rate has dropped. Lower interest, smaller payments – it's a win-win, but remember the term could be higher. Do some research and compare plans to get a better deal.

18. Sell your unwanted stuff

Declutter like a pro and sell stuff you don't need. One person's throwaway is another's treasure. Go through your wardrobe, your home, even your attic. If you’ve not used anything for over 6 months, rethink whether you want to keep it.

19. Cashback ninja

Access extra cash with cash back apps when you're spending money. It's like getting paid to shop. You can do this with store cards or credit cards, but always be mindful of entering into debt, ensure you pay it all back at once and avoid any interest charges.

20. Free fitness feels

Skip the pricey gym and crush those workouts at home or in the great outdoors. There are thousands of YouTube videos on exercising these days, many of them free and available on YouTube and designed to be done at home (thank you, Covid) with no equipment.

21. Pay your credit card on time

Wield that credit card like a lightsaber – use it smartly and avoid paying interest or overdue penalty payments. Credit card debt can hinder your credit score, it can also drain you financially, so if you don't want to pay interest on top of your spending, make sure to pay it on time.

22. Plan out big purchases

If you want to buy something big, such as maybe a new car, put a little money aside for it every month and work out how long you’ll need to save for it. By doing it this way, you won’t impact your savings in one big swing.

23. Audit your current plans

Check what plans you have for your internet, mobile and tv. If you switched would you get a better deal? If you want to stay with the plan you have, call the company and say you want a lower price. Many companies save their best deals for new customers, but they do have leeway to reduce costs for existing customers if it’s asked for. You don’t ask, you don’t get.

24. Book travel direct

If you’re booking a holiday or a flight, always try and do this direct with the airline or hotel, they usually offer the best price. Comparison sites or third parties usually add on a mark up for using their services, so always call the hotel to see what their best price is. I’ve saved up to £600 on one trip doing this before.

25. Put saving into your budget

Many, many, many people try to save only whatever is left over at the end of every month, this is a big mistake. If you budget for monthly savings, you’re more likely to do it. Creating a budget can be difficult, and for beginners I would suggest the 50/20/30 rule. I’ve delved into this rule and how to create a budget here, so take a read to decide on what your monthly savings amount should be.

Now you’ve saved all that money, let’s put it to good use, check out our blog on how to select the right savings account for you.

You've just unlocked a treasure trove of money-saving wisdom. These 25 money saving tips are your blueprint to crushing your financial goals and living your best life without breaking the bank. Remember, consistency is your secret weapon, so keep going on the money-savvy moves!

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