Imagine starting your day knowing you've already banked over £2,000 this year. Sound like a fantasy? I thought so too, until I uncovered the startling truth about my finances. As a money-saving expert for MyVoucherCodes, I’m constantly recommending ways in which others can save a few quid. And yet, I had been haemorrhaging money for years without giving it much thought. My biggest financial drain happened between 7 a.m. and 9 a.m. My seemingly harmless morning routine, packed with takeaway coffee, the forgotten gym membership, and the daily meal deal, was secretly costing me a fortune!
After calculating the total, I overhauled my habits and discovered five simple, stress-free swaps that saved me over £2,244 annually. So, if you’re ready to stop letting your morning routine drain your bank account, I have 5 tips to help you do just that.
- Ditch the expensive coffee habit. The average spend on a takeaway coffee in the UK is between £3 and £5. I was spending around £4 a day on coffee 5 days a week, that’s a whopping £20 a week or £80 a month! It’s clear to see there are huge savings to be made by making your own. Invest in a good quality travel mug and save up to £960 a year.
- Make breakfast affordable and nutritious. Starting the day with a healthy breakfast is essential. I love making overnight oats, and in an airtight container, they last up to 5 days. A 1KG bag of Harvest oats, available at Tesco, is just 85p; the entire bag for one person will last around a month. Add your favourite fruit, nuts or seeds each morning for variety. This avoids picking up additional pastries or bacon sandwiches on the way to work!
- Swap the gym for a home workout. We all know that gym memberships are expensive. My local gym is reasonably priced at £28 a month. After a year of membership, I began to consider how much I could save by exercising at home, combined with regular power walks in my local area. And the answer is £336 per year. I now use free workouts available on YouTube and the great outdoors as my gym, and I haven’t regretted a thing!
- Leave the car at home. Use public transport, cycle or walk to work. This saves money on fuel and parking. Yes, the journey might take longer, but it gives me time to read or just enjoy my own thoughts behind my headphones. And knowing I don’t need to find or pay for a parking spot makes me feel like I’m winning. For me, leaving the car at home and using public transport instead worked out about the same financially. However, I found it less stressful and it’s better for the environment.
- Take a packed lunch. From occasional cafe trips to daily meal deals, it all adds up! Prepare your lunch at home the night before and take it with you to work. If you can save up to £960 a year on coffee, think how much you could save on lunch! The nearest supermarket to my workplace charges £3.95 for its cheapest meal deal. Over a five-day week, that’s £19.75! So, potentially, you might be spending around £948 a year, even when opting for this supposedly ‘budget-friendly’ option.
- Track your daily spending. Tracking your spending accurately is a game-changer when it comes to finances. Consider using an App like Monzo, Emma. Plum or Revolt. They are a handy tool that will help you develop mindful spending habits, leading to a healthier relationship with money.
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