Managing your Money- The Power of Small Changes

Did you know that swapping just one weekly takeaway for a home-cooked meal could save you over £500 a year? It’s true! By rethinking everyday spending habits, you can free up extra cash for savings, debt repayments, or even a family treat. Here are some simple, actionable tips to get started:

1. Rethink Dining Out

A weekly takeaway may feel like a well-deserved treat, but the costs can quickly add up. Instead, try:

• Batch Cooking: Prepare meals in advance and freeze portions for busy nights.
• Themed Nights: Turn a takeaway night into a fun home-cooking experience. For example, make your own pizzas or recreate your favourite curry.
• Pack Lunches: Swapping shop-bought lunches for homemade sandwiches or leftovers could save you up to £120 a month.

2. Embrace Smart Shopping

Groceries are an essential expense, but there are plenty of ways to cut costs without compromising on quality:

• Plan Meals: Write a weekly meal plan and shop only for what you need.
• Look for Deals: Take advantage of discounts, loyalty cards, and apps like Too Good To Go.
• Buy Own Brands: Many supermarket own brands are just as good as premium labels, but at a fraction of the price.

3. Reduce Energy Costs

With energy bills on the rise, finding ways to cut back can save you hundreds of pounds a year:

• Switch Off: Turn off lights and appliances when not in use.
• Upgrade Bulbs: Use energy-efficient LED light bulbs.
• Smart Heating: Only heat the rooms you’re using and lower the thermostat by 1°C to save up to 10% on heating bills.

4. Review Subscriptions

Streaming services, gym memberships, and app subscriptions can sneakily drain your finances:

• Audit Regular Payments: Check your bank statements for unused subscriptions.
• Share Accounts: Split streaming costs with family or friends.
• Use Free Alternatives: Explore free options for fitness, TV, and other hobbies.

5. Travel Smarter

Daily commutes and weekend outings don’t have to break the bank:

• Public Transport: Consider season tickets or travel cards for frequent journeys.
• Cycle or Walk: It’s free, great for your health, and reduces your carbon footprint.
• Car Share: Split petrol costs by carpooling with colleagues or friends.

The Savings Add Up

Implementing just a few of these changes could leave you with hundreds—or even thousands—of extra pounds by the end of the year. That money could go toward:

• Building an emergency fund.
• Paying off debts faster.
• Treating your family to a holiday or special experience.

How Boom Community Bank Can Help

At Boom, we’re committed to supporting your financial wellbeing. We offer a range of services to help you achieve your savings goals, including:

• Protected Savings Accounts: Safe, ethical places to grow your money.
• Affordable Loans: Flexible options to support your needs.
• Financial Tools: Resources to help you stay on track.

Visit Boom Community Bank today to learn more about how we can support your financial journey.