3 Ways To Save Money When Spending

Spending money is unavoidable, so it’s useful to find ways to save money while spending. Your savings may initially be small, but over time these savings can add up to a number that actually makes a difference. Here are my top three ways to save on your daily purchases.

Cashback schemes

A cashback scheme is a rewards programme where customers earn back an agreed percentage of the money they spend while shopping. Each purchase may only result in a small amount of cashback, but it can add up to significant savings over time. I currently use two types of cashback schemes: cashback websites and cashback credit cards.

Cashback websites

Cashback websites such as Quidco and TopCashback allow you to make additional savings on brands you normally wouldn’t be able to save on. If you shop at a brand using the cashback website’s specific link, you will earn back a percentage of the money you spent. Once you earn an agreed amount of cashback, you can deposit your earnings directly into your account.

Cashback credit cards

Similarly, cashback credit card providers pay you a percentage of all the purchases you make using your credit card. This means that you can earn cashback at any brand, retailer, or provider that accepts your credit card. The credit card provider I use is American Express because they currently offer the best cashback I can find. I do all my spending on this card so that I can maximise my cashback and therefore savings. If you’re interested in doing the same, just make sure you’re not using your credit card to pay for things you can’t afford. This way, you can pay off your credit card at the end of each month and therefore avoid paying interest.

Loyalty programmes

Have you been invited to sign up for a loyalty card while shopping? If your response is usually no, maybe next time you should consider saying yes!

Many companies offer loyalty programmes to attract and keep customers. These loyalty programmes offer rewards, discounts, and other special incentives that can help you save money in the long term.

For example, Tesco’s loyalty scheme is called Tesco Clubcard. As a Clubcard member, you can purchase specific products at a discounted price simply by scanning your clubcard during checkout. In addition to this, you also gain points each time you shop at Tesco based on how much you spend. These points add up to give you a further discount on Tesco’s products.

This is just one example of a loyalty programme, but there are many other companies that offer something similar. It’s perhaps a good idea to research the shops and brands you regularly shop at. Find out if they offer a loyalty programme and if it would be a good fit for you. If you believe it would, you should definitely give it a try!

Employee benefits

Are you making the most of your employee benefits?

Many companies provide their employees with benefits that allow them to save money. Exactly what those benefits are varies from company to company, but discounts of some sort are often included. For example, if you work for an insurance company, you may receive half price travel insurance.

For me personally, my company benefits are based around health. This means that I have access to free dental care and half-price gym memberships, in addition to a range of other health-related benefits. If you’re unsure of what benefits you receive as an employee, it might be a good idea to have a chat with HR or your manager to find out. This way, you can ensure you’re making the most of your benefits and saving extra money wherever possible.

Not quite an employee? Students and recent graduates receive financial benefits too. There are websites like Unidays and Student Beans that offer discount codes to those studying or those who have recently finished studying. These discount codes are specific to different brands and retailers that are continuously changing. When shopping at a store, it’s useful to check these discount websites to see if you can save money on your purchases.