With spring here again, now is the perfect time to refresh your finances and make your money work harder for you. Whether you’re saving up for a special present, planning a holiday or just looking to save more money, James Brown, CEO at Leeds Credit Union, has prepared five tips to help you make the most of your money this spring.
Look over your savings account
Take a close look at your current savings account and see how it compares to some of the other savings accounts out there. Many credit unions offer a range of member-focussed benefits, from welcome incentives to more personalised service and support, so joining one could help you build better financial habits and make the most of your savings.
Don’t spend what you can’t afford!
Spring is the perfect time to review your monthly expenses to see where you could be saving money, so have a close look at your subscriptions, memberships and recurring bills. Are you paying for anything you no longer use or need? Could you manage with less data on your mobile phone contract or fewer streaming services?
If the answer is ‘yes’, cancel or downsize these expenses asap to free up extra money and add it to your savings account.
Shop smarter
Now the weather is getting warmer, you may be tempted to buy things like new clothes, things for your home or outdoor equipment. But before buying anything, ask yourself if you really need it.
If you really do, take the time to shop around and compare prices. Look for sales, discounts and coupons to make your money go further, or consider buying second-hand or pre-loved items to save even more money.
Explore cashback and rewards programs
Make the most of your everyday spending by signing up for cashback and rewards programs. Many banks, credit cards and shopping platforms offer cashback or rewards points on purchases and, by using them cleverly, you can earn money back on your regular expenses.
Become more energy efficient
As the weather warms up, now is the perfect time to invest in energy-efficient upgrades for your home.
Simple changes like installing LED light bulbs, resealing drafty windows and upgrading to a programmable thermostat can help lower your energy bills and save you more money.
Leeds Credit Union – here when you need us
By trying these five tips, you can make your money go further this spring and set yourself up for financial success in the months ahead.
If you’ve done everything you can to save some extra money but are still struggling to make ends meet, reputable financial institutions that offer affordable and ethical loans and access to a variety of savings accounts are available.
Leeds Credit Union provides straightforward and affordable financial services to people in Leeds, Wakefield, Harrogate and Craven.
Photo: Shutterstock
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