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Life

24th Jul 2018

5 penny-pinching steps that won’t turn you into a tight git

JOE

Sponsored by Bank of Ireland.

It’s a fine line.

None of us want to be the friend who legs it once it’s their round in the local, but we also don’t want to be the one in the corner necking cheap vodka from a hip-flask. Whether you’re saving for a big trip abroad or just for a rainy day, it’s always nice to have a bit more cash on the hip.

 

With our fool-proof guide to saving money, you won’t have to worry about scraping through the last few days before you get paid.

1. Set a budget

It’s surprisingly easy to set up a decent budget for yourself, and it doesn’t have to involve weekly audits or bringing a calculator with you to the supermarket. Once you get a better idea of how much you have to spare every week, you’ll find the savings just come naturally.

Add up what you earn and go through the costs of a normal week in your head with allowances for the odd unexpected lunch or night out. If you have a bit to spare this week, put it away and allow yourself a bit more leeway for next week.

2. Write shopping lists

Writing out what you need based on what you used the previous week is a good place to start. Don’t be afraid to buy stuff for the freezer too if you want it to keep you going for a while.

Don’t go shopping when you’re hungry! Every aisle in the supermarket (maybe not cleaning products) looks better before you’ve had your dinner. Try and go when your stomach is full and your head is clear.

3. Invite people over

You don’t necessarily have to host the next Project X, but there’s a lot to be said for just inviting people over to your house instead of hitting the town. Apart from saving on taxis and food, it works out a lot cheaper than bars and nightclubs.

Having a few people over for a BBQ is a much cheaper option. Just ask people to chip in for food, and you won’t have to worry about trying to catch the barman’s attention either.

4. Pre-pack lunches

Re-sealable lunchboxes are some of the best investments you can make when trying to save money. Buy some nice bread and whatever toppings you like, and just make your lunch the night before rather than a last-minute lunchtime decision to grab a delicious (but costly) burrito.

If you can’t get through your week without your favourite lunch, maybe make allowances for that in your budget. Bringing a packed lunch might seem like an obvious one, but you’ll notice a big difference in the amount you save every week.

5. Talk to an expert

No. we’re not talking about your mammy. Don’t worry about asking your local bank for support, it’s what they’re there for! Just talk to them about why you want to save more money going forward, and they’ll give you a better idea of how to make the most of your income.

With that in mind, Bank of Ireland’s Live Life Rewards offer cashback when you buy from some of Ireland’s biggest brands. That’s the closest thing you’ll get to free money. So you don’t even have to change the way you shop to save yourself some hard-earned cash!

Simply register your Bank of Ireland Visa debit card for Live Life Rewards. Check out the weekly offers including deals on lots of summer essentials, and shop in-store and online using your card. Then sit back and wait for the summer-time cashback to be paid into your account, typically within five business days. It’s so easy. Register now.

Live Life Rewards is brought to you by Visa in partnership with Bank of Ireland.  Bank of Ireland is regulated by the Central Bank of Ireland