With the New Year just one day away, many people might be thinking about any resolutions they want to make.
A common habit that people want to take into 2023 is being better with money. This is especially true at the moment due to the cost of living crisis and soaring bills that are putting pressure on people all over the country.
It can be a daunting thing to think about, but like-minded money-saving fans have taken to Reddit to share their best tips for staying on top of your finances.
The thread, entitled "Share ONE budgeting tip", has racked up 127 comments since it was created at the start of the month, the Mirror reports.
Some are very simple hacks whilst others may take a little more organisation to set up, but overall the money advice shared by these social media users could actually be very helpful.
One of the first comments on the thread related to food shopping. It's a very common experience to head off to the shops for a few things and ending up spending much more than necessary.
One Reddit user rileyyj001 said before they shopped for any fresh food, they always checked their freezer and cupboards first to see if they actually do have ingredients to make stuff and added: “The meme is true ‘we have food at home!’”
In response to this comment, another user shared how they used shopping lists to help them budget.
They said: “On my shopping list, I include a 'not' section too, to remind me of things I commonly buy but don't need this week, generally butter/cheese, carrots/onions/potatoes, beans/pulses, herbs/spices.
“It helps stop some 'just in case' purchases.”
Lists were a popular budgeting tool with the Redditors as another user Sunny_bearr48 shared how they had recently started making a “wish list” of all the purchases they intend to make and waiting for a month before doing so.
They said: "It really led to more conscious spending, even when I thought I needed stuff, I don’t like buying a lot at once so I think a lot about the purchases on the list.
"And after a month I have a great idea about what a good price is, how badly I need it and less guilt when I actually make the purchase."
A tougher but simpler way to cut down on any unnecessary spends was to simply delete any shopping apps, as well as unsubscribing from any marketing emails.
This helps to stop any aimless browsing, any to curb any temptation from any shopping offers.
In response, another Reddit user, frumpyflorist said: "Use a spam email account for any purchases you make so that the marketing emails go to that account instead of the account you use for everything else.
"No more impulse shopping when 'deals' come through in your email."
In terms of household bills, user Lindsey-905 suggested setting aside some time every year to call around all your providers and try to find a better deal.
They said: “I have had my internet ‘first year’ 50% off deal extended for going on 3 years now. My phone plan is excellent and frugal, and in October I lowered my auto insurance by $53 a month for the same coverage (and actually a little better in a few areas)”
“It does take a little time and effort, but when you consider how much it saves over the course of a year, it's completely worth it.”
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