Written by Becca Green

5 tips for saving money during lockdown

Lockdown may have completely changed your daily routine, but it can be looked at an opportunity to stay at home and save money. We’ve put together a few expert tips to get you started.

pot of money fallen over - 5 tips on how to save money during lockdown - inspiration - goodhomesmagazine.com

Image: Josh Appel

During lockdown, a lot more of us will be spending more time at home and less on going out. We spoke to the team at Widilo who have compiled some top tips on how households can ensure they save money while on lockdown.

1. Increase your savings

No matter how much you’re currently putting aside a month – whether it be £50, £100 or more – make a conscious effort on pay day to put a little more away; try to double the amount you’re setting aside if you can. You can of course still dip into that pot if you need it, but hopefully that won’t become a necessity and you’ll have a nice little nest egg to enjoy after lockdown has been lifted.

2. Create your own fakeaways

If you’re craving your favourite takeaway, but they are either shut right now or you don’t want to spend a large amount for one meal, consider making your own ‘fakeaway’ from home. Not only is it likely to be cheaper, it is also a good way for couples and families to spend time together and is also likely to be a healthier version.

chinese fakeaway - 5 tips on how to save money during lockdown - inspiration - goodhomesmagazine.com

Image: Frank Zhang 

3. Cancel any irrelevant payments

While many gyms around the UK have been proactive in pausing memberships, there are other ways to cut costs right now, from calling Sky to temporarily pause your sports subscription, through to pausing any monthly memberships you may have to attractions around the UK.

woman on ipad shopping - 5 tips on how to save money during lockdown - inspiration - goodhomesmagazine.com

Image: Brooke Lark 

4. Search for discount codes

With so much spare time on our hands, we’re all spending a little longer online than we were previously, and therefore we’re seeing more adverts than ever before. If you are going to make an online purchase for home delivery, be sure to shop around for discount codes, deals and cashback offers before checking out to either get money off or make a little money back.

5. Resist the urge to splurge

Although we’ve got a lot more time at all and it can be hard not to browse online at the various shops that are still trading, it’s important to resist the urge to splurge. We are all in uncertain times right now and it would be wise to be a bit sensible regarding our frivolous spending. It might be a good idea to set aside pocket money each week so you can keep track on how much you’re spending.

 

Do you have any money-saving tips? Let us know on social! Tweet us @goodhomesmag or post a comment on our Facebook page.

 

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