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Discover tips and tricks on how to save and invest money by Oval Money

If you were a fan of our first list of handy saving hacks, then you’ll love this one too. We’ve put together ten more great ways to save money on a daily basis!

1. Cut up your store cards

A 2018 survey by reported that store cards have on average 5% higher APRs than standard credit cards. Furthermore, many store cards have "deferred interest" deals masquerading as 0% interest.

This means that unless you pay off the entire loan before the end of the agreed "interest free" period, you will be expected to pay all the interest you thought you’d avoided, regardless of how much you’ve already paid off.

2. Customise your savings

Maybe you walk to work, or maybe you’re a social media queen. No matter what your daily rituals and routines are, build your savings around them instead of trying to build unnatural new habits that are doomed to failure.

3. Meal prep

An American study by Wellio found that the average home cooked meal cost just $4.31, compared to $20.37 for an average restaurant meal. That's one hell of an incentive.

The most efficient meal prep is to cook and prepare your work lunches. Alternatively, cook a large batch of pasta, rice, or legumes, and use that as the base for the rest of your meals during the week. That way you avoid eating the same thing all week, but by bulk cooking the main part of the meal you save money throughout the week by avoiding buying food on a whim when you’re tired or hungry.

4. Shop online

Many websites offer free delivery, meaning you eliminate all associated travel expenses. Additionally, you can save money by targeting your searches and therefore minimising your distraction.

5. Use all your food

Sounds simple enough, but the average UK consumer loses £200 every year in domestic food waste. In order to reduce waste and save money, make sure you cook everything you have in your fridge. A number of websites exist that provide you with recipes designed around the ingredients you have left in your cupboards. Just enter the information and they will provide a recipe.

6. Delete your browser history

This tip should become second nature every time you prepare to make a purchase, especially on something with a fluctuating price like hotels or flights. This interesting study that was done on flight costs proves that clearing your history may indeed save you money.

7. Self motivate

Ditch the gym! Europe is the largest fitness market in the world, with the average UK gym membership coming in at £40.53 a month. Save yourself nearly £500 a year by changing the way you exercise. Start running outside, or only buy specific classes you want to attend. Set up the fitness step too, and save instead of spend whilst you exercise.

8. Drink more water

By switching to drinking water when you’re out you’ll save yourself money on coffee, alcohol, and sugary drinks. Tap water is free, and better for your health than any other beverage. Additionally, by staying properly hydrated you are less likely to crave expensive sugary snacks and drinks.

9. Build a passive income

Look at ways you can add to your income stream. Maybe you have a hobby that you can turn into a part time business, or you have junk sitting around your house that you can catalogue and sell. Get innovative and find ways to make yourself a little extra on the side.

10. Set up price alerts

Don’t ever pay over the odds again. If you’re looking for a specific product or service, don’t waste time trying to scour the whole internet yourself looking for the best deal. Instead, set up a price alert to notify you when the best deal becomes available.

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