Save Money

Saving Guide 2020

EPF Last Update: June 3, 2020

Come up with Budget

When trying to save, it’s always vital that you understand your priorities and put them in order.

Reducing a lot of fun activities, for example, would help you save a few extra coins. That’s why having your budget listed is the perfect way to regulate your expenditure- only spend when necessary.

Re-evaluate Your Direct Debits

There are some subscriptions that you might have had but no longer using them actively or at all yet monthly payments going out of your account towards them. Things like a membership to a gym, such amounts go to waste which you could’ve otherwise channeled elsewhere.

Develop and observe strict rules on everything worth your money.

Walk or Cycle Over Considerable Distances

You can always make your bank account smiling by not withdrawing too much from through choosing to walk or use your bicycle instead of driving. It will save you a more significant deal of money.

Some times driving to work, might be so unnecessary. If especially your employers have a bus program that picks employees along the township, then that is the best option if you are looking to save this year.

Avoid The Use of Contactless Cards

During night dates and outings with friends, it happens that we tap away and lose track of the expenditure.

One way of curbing this unpleasant spending is by using the contact form of payment -chip and pin, this way, you shall have all the records of every bit of the amount that you shall spend.

Direct All Your Loose Pennies to The Saving Account

Other than piling your coins everywhere in the house, you can always have them collected in a jar somewhere in the house. Put it in a strategic position so that every member of the family can still find it easy to drop their loose coins as well.

There’s no limit to the amount that anyone wishes to contribute. Allow your family to feel free, chipping in even a higher value. After sometimes, you will realize that what you have collected can help you offset some bills.

Reduce The Frequency of Buying Meat

When it comes to saving, you are always going to deny yourself one or two things. Stuff like meat, fish that might be expensive and use the once in a while or at a reduced rate compared to previous times.

You can choose to be a vegan for a while or just some days, meat-free Tuesdays, and no fish Friday and Saturday. In this way, you get to do your bank balance some favor as well as your health.

Abandon The Takeaway Coffee 

Avoid buying a takeaway coffee every morning on your way to the office. As a solution, always prepare your coffee at home before leaving. You can buy a reusable cup as well so that you can always carry some with you to work if you so wish.

Another advantage of a reusable cup is that an increasing number of high street coffee chains give discounts to customers who bring their cups with them.

Preparing coffee on your own saves your money as well as the environment.

Prepare Lunch by Yourself

Did you know that just about $4 can buy you a meal that can last you the whole day? Unlike when you visit a hotel where you can end up spending a similar amount or more on a single meal.

Craft a Meal Plan

Put down a shopping list on a notebook and don’t spend outside your list. Do not purchase stuff that you do not need. Avoid buying items in two, especially when it’s not necessary. Some offers at the supermarkets might be appealing, don’t give in to such offers unless the items on offer are in your shopping list.

Don’t Throw Away Your Receipts – They’ll Help You Monitor Your Spending

Keeping your receipts as part of your spending records help you remain aware of your week to week budgeting.

Go for Vacation Within Your Area of Residence

You can save extra cash by avoiding traveling abroad for vacations. Most people use the money they actually “don’t have” to go for vacations outside the country, thinking they are more beautiful than local areas. No, your local holiday sites are equally enthralling. Other than enjoying yourself, you will be saving a great deal.

Have Your Unused Items up for Sale Online or Whichever Way Best for You

As the old saying goes, “a person’s junk is another one’s treasure” That’s true. What you think has less use for you is someone else’s dream. Having these items on Amazon, eBay, and others can fetch extra.

Entertain Yourself at Home

Who goes out anymore? If it means drinking some alcoholic drinks, you can always invite your friends and share with them a bottle of wine or a whiskey. It will save you high prices as it is usually the case at the bars.

If you have a family, you can have fun by organizing a movie or game night, which is a better way to spend the night as a family.

Carry Your Reusable Bags with You to The Supermarket

A large number of people end up spending on carrier bags each time they visit shopping areas. Almost everyone that buys a new carrier bag has one or two at home. When this happens, you end up spending unnecessarily.

As a solution, always remember to carry your bag with you each time you are going to the supermarket. It will cut on extra and unnecessary buying of things that you already have.

Stay Keen on Voucher Codes and Online Discounts

Looking for the best value for your money is the best thing you can do to yourself. Online shopping comes with promotions that give you free offers as well as discounts. Remaining vigilant on such promos can do you bank a little favor.

Draw up Saving Goals

Have a vision of why you are saving to give yourself extra motivation; have deadlines for achieving your objectives, and see what you shall have by the end of the saving period.

Avoid Spending Found Money

Sometimes you are this lucky so that you get random gifts during events such as birthdays and even anniversary. If your grandmother, for example, gifts you with $200 on your birthday, consider forwarding this amount of money to your savings account.

You didn’t have this money before, so it doesn’t change a thing if you decide to throw it to the savings.

Set Automatic Saving

Each month, it’s crucial that you plan for a recurring amount of money to transfer automatically to your savings account. It’s an approach that will save you from having to remember to save every time; it also reduces every chance of you spending the money without saving a section of it.

It’s even better when you have arrangements where part of your paycheck goes directly to a savings account so that it never reflects on your checking account at all. If you happen to be with an employer-sponsored retirement plan, then that’s the best place to make your contributions.

Repair Instead of Replacing

Each time something breaks in your house, always try and find out whether it is repairable before thinking of other actions such as total replacements. You should also learn to repair simple household stuff and even mending of torn clothes.

Use Available Public Resources

There are several public resources that you can use to cut on your costs. Take, for example, a public library to do your research work. Most public resources are free or charge a little maintenance cost; above all; they are convenient compared to their private counterparts.

Avoid Getting All Your Groceries From a Single Store

Different grocery stores and supermarkets offer various groceries at different prices. You must get yours from different sellers to possibly make the best from all the possible discounts that are available out there. Shopping around opens opportunities for you to know different prices by different sellers, which will play an essential role in your budgeting and saving.


It’s a new year; it’s still early to make a plan for your savings as we are going deep into the year. In this guide, we have put together a few critical tips that will help you fully realize your objective to save.

You will find most of these approaches achievable, and if fully and keenly observed, saving will never be a problematic thing whatsoever.

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