My top money-saving tips

• Table of Contents

  Subscriptions

  Be realistic

  Automation

  Communication

Managing your finances as a parent can be challenging, but with a few simple strategies, you can make your money go further.

From avoiding unnecessary expenses to setting achievable savings goals, here are some practical tips to help you save more and stress less.

1. Never let your subscriptions auto-renew

It’s easy to forget about subscription services like TV packages, streaming platforms, or magazine subscriptions, but allowing them to auto-renew can cost you more than you realise.

After the initial contract period, many companies will hike up their prices without warning so before your contract ends, take the time to shop around or contact your provider to negotiate a better deal.

You’ll often find you can get the same service at a lower price—or even discover a better offer elsewhere.

2. Set a realistic savings challenge

You know I love a savings challenge! It’s a great way to stay motivated and build your savings but the key is to choose a challenge that is achievable for you and your family. For example, the 5p challenge, where you save an increasing amount each day starting with just 5p, can add up significantly over time without feeling overwhelming. Visual goals, like a savings jar or a chart, can help you track your progress and stay on course. Seeing your money build is always a motivator and will spur you on.

3. Automate your savings

Another favourite way to save of mine - automating my savings! Automation is one of the easiest ways to ensure you consistently save money. There are a number of apps available that help you to do this and some of the ones I use are Sprive, Plum, and Monzo. These apps can automatically transfer small amounts into your savings account or round up your purchases to the nearest pound, saving the difference. This effortless approach to saving can help you build a financial buffer without even noticing the money leaving your account.

4. Communicate openly about finances

Talking about money openly is vital in a relationship and I’d really recommend making an effort regularly to have open and honest conversations with your partner about your finances. It can be awkward to start but the more you do it, the more value you’ll get from it. Some things to discuss are your financial goals (individually and as a couple/family), spending habits (good and bad!), and any concerns you might have. 

TOP TIP! A good place to start is using Snoop. I really recommend using this app to help kickstart these conversations because you can see all of your spending together in one place and plan a way forward.

Working together on a financial plan can help you both stay on the same page and avoid misunderstandings. It’s also an excellent opportunity to review your budget, adjust your savings goals, and plan for upcoming significant expenses.

Summary

Taking control of your finances doesn’t have to be difficult or overly complicated. I use a very simple spreadsheet (here’s one you can use!) to track income and spending and it really helped me stay in control and plan ahead.

The key is to be proactive and shop around for better deals, set achievable savings goals that work for you, automate your savings where possible to take the effort out of saving, and have open financial discussions with your partner. 

Remember, small steps can lead to big savings!

Disclosure: Some of the links in this blog are affiliate links. This means we may earn a commission if you click through and make a purchase, at no additional cost to you.

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