Pensioner shares top tip for saving money
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Veronica Northam, 75, told Express.co.uk that she really feels for the younger generation including her children who are struggling due to the cost of living crisis. She shared a simple old fashioned tip for saving money which might help others.
While many people have been looking for ways to make savings, Veronica from Bristol said the younger generation could save money by writing down everything they spend.
It’s a simple tip that could help people save a fortune by helping them focus on budgeting more.
The pensioner also said that going without a daily treat like a cup of coffee – could save the younger generation £20 a week or £960 a year.
Veronica said: “They do still tend to like their treats – I know not everybody does – but going out for a coffee has become part of our culture hasn’t it?”
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She continued: “It’s amazing how much that adds up.
“I do keep a note of what I spend on things and I think many young people don’t.
“They’d be surprised how much they spend on coffees and things like that which you can do without.
“Keep a record of what you spend and you’d be really surprised how much you spend on things.”
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Writing down every transaction can make people more mindful of their spending habits.
People should first of all make a budget and then write down their spending so they know when their money is due to run out.
Another tip that may help people stick to their budget is to draw cash out once a week and use that instead of debit cards.
A single mum from Bristol recently told Express.co.uk how she saves £250 a month by doing this.
Sharon Lowick, 53, told Express.co.uk: “I find it saves me so much money as I’m a little bit of a shopaholic I tend to not even go in some of the shops because I know I don’t need it.
“I only buy what I need so it’s really helping me – I’ve saved so much money and I’d definitely recommend it.”
Sharon is not the only person to try out this method to help her through the cost of living crisis.
A Which? study recently found many people are choosing to use cash over cards to help them curb their spending.
Britons are also making simple swaps and ditching energy guzzlers to help them save money on energy bills this winter.
A carer from Bognor Regis is saving up to 80 percent on her energy bills by ditching her tumble dryer and using an electric drying rack instead.
Tina, 48, bought the electric drying rack after discovering it only cost 20 pence an hour to run in comparison to £1.99 per hour for her dryer.
Express.co.uk looked into the biggest energy guzzlers and came up with some simple swaps so people can see what could be burning a hole in their pocket.
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