Low-Effort Ways to Find, Save and Make Money

If you’re planning a dream purchase, saving for a rainy day or simply want to make ends meet, you’ll want to everything you can to maximize your income and reduce your outgoings. Many people assume that better money management means foregoing the things you love and living on a restricted budget, but this isn’t the case. In fact, you can save a surprising amount of money, and generate even more, with simple lifestyle changes, so why wait?

To get started right now, take a look at these low-effort ways to find, save and make money:

1. Switch Your Savings Account

If you already have some savings in the bank, make an effort to check whether you’re benefiting from a competitive interest rate. Sometimes, switching to a different bank or building society can enable you to secure a much higher rate, which means you’ll earn more from your money. It’s easy to find out what rates are available, and you can even transfer your account online, so you can boost your savings with minimal effort.

2. Cut Utility Bills

Your utility bills are essential expenditure, so you won’t be able to eradicate them altogether, but you can certainly reduce the amount you need to pay. A quick comparison search will tell you which company is offering the best deals in your area, so finding the cheapest prices doesn’t have to be onerous. Simply give them a call or sign up online and you can save hundreds of pounds of year.

3. Invest in Stocks and Shares

If you’ve got a head for numbers or a good sense of commercial awareness, you could grow your capital and even generate income by investing in stocks and shares. Alternatively, learn how to trade forex and you can play the market to increase your gains. If you don’t have any experience with investments but you still want to make your money work for you, consider starting an investment account or working with an investment manager.

4. Cancel Unused Subscriptions

So many products and services are now available via subscription that it’s easy to forget how many you have. Take a look at your recent bank statements and identify any memberships that you no longer need or want. By cancelling them, you can save a surprising amount each month. However, do check that you won’t be subject to any early cancellation fees or penalties first.

5. Start a Side Hustle

If you want to generate more income, a side hustle can be a great way to do it. For a low-effort side hustle, choose something that’s related to one of your hobbies or interests, as this will allow you to make money without feeling like you’re working. Similarly, side hustles that generate passive income allow you to boost your revenue without any effort at all.

6. Use Loyalty Cards

If you use the same shops regularly, it can pay to pick up a loyalty card. Many stores have special offers designed for loyalty card holders, so you can get exclusive access to sales and discounts, as well as earning a little money back by collecting points throughout the year. While you shouldn’t let a loyalty card influence your purchase behaviour, they can be a good way to make savings on purchases you were planning to make anyway.

7. Reduce Your Debts

If you have outstanding debts, you’ll want to create a sure-fire plan to help you reduce them. Many people find that paying off the highest-interest debt first enables them to save the most. However, you can also talk to your creditors and ask them to reduce your interest rates. If you’re not sure how to get out of a debt spiral, be sure to seek professional advice as this can drastically improve your financial situation.

8. Compare Prices

Before you buy anything, be sure to compare the price across a variety of retailers. Fortunately, there is a great selection of websites and apps that can help you to do this quickly – and they’re free to use. From luxury purchases, like electronics and beauty products, to essentials, like groceries and petrol, there are easy ways to maximize your money.

9. Trace Old Pensions

One of the most effective ways to find money you didn’t know you had is to find out whether you have any old pensions that you’ve forgotten about. If you’ve changed jobs regularly, there’s a good chance you’ll have a pension or two in your name. By tracing old pensions, you can decide whether to continue making contributions, switch to another fund or to cash it in.

10. Use Cashback Credit Cards

If you regularly use a credit card, it’s worth looking at whether you could be getting a better deal. Choosing a card with a low-interest rate or a 0% balance transfer can help you to minimize your expenditure. In addition to this, choosing a card that offers cashback allows you to earn a little every time you make a purchase.

11. Declutter Your Home

Decluttering doesn’t just give you extra space to enjoy, it can be an excellent way to make some money. Collect items you no longer use or want and put them to good use. Major retailers, like Amazon, offer trade-ins for many items, so you can get cash or credit for your goods. Alternatively, advertise them on a local or online marketplace and sell them to the highest bidder.

12. Create Savings Goals

Having a specific target can make it far easier to save some money each month. The more detailed your plans, the easier you’ll find it. If you’re saving for a house, vehicle or holiday, for example, start planning your future and see how quickly you can make the pounds pile up.

Managing Your Money

With so many ways to find, save and make money, overhauling your financial management doesn’t have to be difficult. In fact, embracing new ways to handle your money can be a fun way to save for the future and maximize your income.

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