Send us a text

7 Ways to Save Money & 4 Things Worth Spending More On

Source: Metro.co.uk article, "7 things you might be wasting your money on and 4 you should pay more for"

Main Themes:

• Conscious Spending: The article highlights the importance of being aware of spending habits and identifying areas where money can be saved without sacrificing quality of life.
• Value over Price: It emphasizes that sometimes spending more upfront on certain items can lead to long-term savings and increased satisfaction.

Most Important Ideas/Facts:

7 Ways to Save Money:

1. Daily Coffee: Brewing coffee at home instead of buying it daily can save a significant amount of money annually. The article states, "£3-£5 on coffee...could add up to around £75-£100 per month – or more than £1,000 a month."
2. Buying Lunch: Preparing lunch at home instead of buying it every day can drastically reduce weekly expenses.
3. Sale Items: Avoid impulse purchases during sales and only buy items you truly need or have been planning to purchase.
4. Unused Subscriptions: Regularly review and cancel unused subscriptions to streaming services, gym memberships, etc.
5. Unused Gym Memberships: Cancel or downgrade unused gym memberships to save money.
6. Brand Name Food: Opting for supermarket own-brand products instead of brand name items can lead to significant savings.
7. Credit Card Interest: Minimize credit card use and pay off the balance in full each month to avoid high-interest charges.

4 Things Worth Spending More On:

1. Mattresses: Investing in a high-quality mattress is essential for a good night's sleep and overall well-being. As Consumer expert Chris Jager states, “A premium mattress will significantly improve the quality of your sleep."
2. Winter Coats: A durable, high-quality winter coat provides warmth and protection from harsh weather conditions, potentially saving on healthcare costs in the long run.
3. Tyres: Spending more on good quality tyres enhances vehicle safety and performance.
4. Baby Equipment/Car Seats: Prioritizing safety and durability when purchasing baby equipment, especially car seats, is paramount.

Quotes:

• "With the average meal deal costing anywhere from £3-£5... you could be spending anything from £15-£30 a week, or significantly more, just to eat lunch."
• "These things get put on autopay, and then people don’t even realize that they’re paying for something that they don’t even use,’ she explained. ‘That’s an easy way to chuck money out the window.’"
• "A premium mattress will significantly improve the quality of your sleep. This can provide a whole host of indirect benefits – from energy levels to everyday mood and spine alignment."
• "Appropriate tires can make or break the use and experience of a vehicle, I’ll spend what it takes to make sure I’m having a good time."

Support the show

Contact RAnks’s Podcast

• Email us at [email protected]

Thank you for tuning in!

Your support means the world to us. If you enjoyed this episode, please consider following, sharing, and leaving a review—it helps more listeners find us. A special shoutout to everyone who keeps this journey going, including our amazing guests and, of course, *you*, the listener. Stay curious, stay kind, and we’ll catch you next time!