Our top tips for saving money, if possible. 

These tips were shared by attendees the session and are not financial advice. 

1. Always query the cost of your bills if you think it is too high. 2. If you are female, buy men’s razors they are just as good and half the price. 3. Set up direct debits for your bills if you can. Change payment dates to the date that you know you will have money coming into your account. 4. Save your receipts and leave labels on things until you use them as if you are short on cash you can return. 5. Go shopping in the early evening and get reduced food. 6. Have separate bank accounts to help manage your money. 7. Consider if you need to keep your landline. 8. Explore different saving methods. 9. Try to use cash more. 10. Review debts and see if you can save with reduced interest. You may benefit from speaking to a qualified professional. 11. Use banking apps often to keep on top of income and expenditure. Turn on notifications so you know when money comes in and out. 12. Have a budget – this could be a spreadsheet that tracks income and expenditure. 13. Watch out for scams so that you do not lose money. 14. Be aware of contract end dates and ask for reductions. 15. Energy efficiency to reduce cost – can get support via Warm and Well in Merton Project. 16. Try and save water where you can. 17.Turn off appliances at the wall when you are not using them. 18. Explore rolling monthly phone bills as opposed to contracts that come with a mobile. Often cheaper to buy a phone and have a sim only contract. 19. Invest in a coffee cup or lunch box to help avoid buy coffee out or not packing your lunch. 20. Live simpler and more intentional if you can. 21. Use coupons and discount codes as much as you can. 22. Explore cashback apps. 23. Freeze food 24. Don’t put bananas in your fruit bowl the ripen other fruit quicker

You can download a PDF of the minutes from the session here - Craftivism Jan 2023 Minutes 

 

Our current money worries

Below are some of the top worries that attendees at the session had around money. 

  1. Being able to afford the extra costs of disability
  2. Unexpected medical costs such as dentist
  3. Managing benefits with increased costs
  4. Managing utilities bills, especially when the government support ends
  5. The inability to save
  6. That something goes wrong with my home. For example, the boiler
  7. Disrepair
  8. The rising cost of food
  9. Insurance costs are increasing – high cost and little return
  10. That we are not financially resilient
  11. No disposable income for holidays
  12. Costs of running a car – petrol, ULEZ etc
  13. Vet bills
  14. Charging when you are self employed
  15. Understanding the changing interest rates and what this means for personal finance
  16. Not being able to support family financially anymore
  17. Income is not increasing but everything else is

 

There will be a follow up session that explores how to create a budget and more in April 2023. Please RSVP via email.