We all have certain expenses that work on a month-to-month basis. Here are some ideas on how to start saving on them straight away.

 

Insurance. It’s a grudge purchase, but one that most people need. But the insurance arena is also a hotly contested marketplace, which is a good thing for you as the customer. If you’ve been with your insurers for a while, call them up, and insist that they need to drop your premium. This is even more powerful if you haven’t claimed in a long time (or ever). They’re afraid of losing you to the competition, and consultants have discretion to drop premiums to a degree. Strengthen your argument even more with a quote from a competitor. Also, look at combining your various insurance types (say, household and car), as you could get a better deal from one insurance house as compared to splitting them.

 

Bank charges. Right off the bat, ask yourself if you really need that super-gold-platinum-diamond banking package. If you’re making use of all the benefits, then fine, stick with it; but if you just upgraded your account for a prettier colour card, ask yourself if the inflated monthly fee for the package is really worth it. Besides, even mid-range packages come with gold cards these days. Then, check if you’re being charged a fee every month to have an overdraft facility (you very likely are). If you don’t need one, and never intend using one, have the facility cancelled. You’ll save money every month, and can always re-apply for it in the future if needed. Also track your cash withdrawals and deposits – using cash attracts very high charges, so rather try and swipe your card wherever possible, and avoid making multiple small cash withdrawals or deposits.

 

Petrol. Fuel costs what fuel costs, and the only way to save here is to make sure that you use less. A great way to start is to take an honest look at how often you use your car for short-distance trips. Do you really need to drive to the shop down the road for bread? For short trips, wherever practical, leave your car at home, get some fresh air and exercise, and save yourself some hard-earned cash. The biggest petrol allocation for most people is getting to and from work, so consider carpooling or ride-sharing with some colleagues, or neighbours who work near where you do. You don’t have to give up your independence entirely – even if you only share one day a week out of five, you could save 10-20% of your monthly fuel spend!

 

Shopping. The best thing you can do here is to plan your grocery and shopping needs in advance. Then, do just one or two big shops a month at a supermarket, instead of buying bits and pieces from 24-hour shops near you. The prices at supermarkets are much more competitive, and your money will go much further, as the little corner café or 24-hour charges you for the convenience. Click here for a weekly meal planner.