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It’s easy to put money into savings when you have a large salary that covers all of your expenses and then some. However, it is possible to save even when your salary is smaller. Having a savings account is important for your future so it’s a good idea to consider what you can do to build this up each month.  

So what can you do to make this happen?  

Cut your costs  

When planning what to put into your savings account each month, consider your living costs. Keep an eye on your bills and take a look at where you can cut down. Make sure lights are turned off when you’re not in a room, don’t waste any water and manage your heating better to avoid any unnecessary costs.  

Enjoy less expensive activities 

Everyone should be able to go out and enjoy themselves but sometimes we need to cut down on the rate that we go out and spend money when we don’t have to. Cutting down on how much you eat out is a good start. Buy in enough food for all of your meals, even on the weekend. You’ll be surprised by how much you save.  

Doing more activities outside can also help such as bike rides or hillwalking. You can even have movie nights at home instead of going to the cinema. When you’re planning to go out, why not consider using Groupon, Itison or 5pm for the latest deals on activities and restaurants. This will save you a lot of money in the long run.  

Only buy when necessary  

Purchasing the latest phone or newest laptop isn’t always necessary and these costs can add up to a lot. This doesn’t mean you shouldn’t buy them but it’s a good idea to set yourself a target and only buy these products when you’ve saved up enough to cover the cost without leaving yourself short.  

Plan your food shopping 

Give yourself a budget for your food every month and make sure to plan your meals and snacks so that you only buy exactly what you need when you go to the supermarket. Cooking your meals from scratch will also be a cheaper alternative to buying ready meals too.  

Purchase used goods 

Buying used goods such as cars, electronics or clothes is a cheaper alternative to buying everything brand new. Ebay is a great place for used goods and their auction system means you can get some great bargains.  


By taking some of these steps and creating a budget that accounts for all of your expenses, you should be able to designate a certain amount to be put into your savings account each month. Saving while on a lower income can be a very daunting task but it is doable. It’s good to sit down and decide what your priorities are in order to create a plan. The above points are just a few of the things you can do to help yourself save. If you need any help with your debts in order to start saving, get in touch with one of our advisors today.  Contact us now. 


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