collaborative post // There’s no escaping talk about money at the moment. As the cost of living soars, many of us are thinking about our finances. Whether you’re saving, trying to manage debts or thinking about growing your money, it’s wise to consider what’s next. Here are some tips you may find helpful, no matter your financial situation. 

Saving money

Many of us are in a position where we would like to save money and set up a fund for a rainy day, a house deposit or a nest egg for the future. If you’re keen to try to put money aside in the months and years to come, it’s great to be proactive in saving, rather than transferring the odd sum to your savings account now and then.

Setting up a schedule, making a budget and setting spending limits are brilliant ways to help you save. Start by calculating how much disposable income you have each month. Draw up a budget and update it every month using accurate figures that cover your income and all of your outgoings. While budgeting, analyse your transitions and go through your statements.

Highlight any costs that you could cut or reduce. You may want to limit how much you spend on eating out or cancel a subscription you’d forgotten about, for example. Set a savings target and use spending limits to help you reach your target faster.

There are myriad ways to reduce costs if you’re trying to save at the moment. Shop around for the best deals on insurance, utilities, TV, phone and broadband contracts, check prices online before you buy products and try to reduce energy and water consumption.

Lower spending on non-essentials and luxuries and look for cheap ways to have fun, such as swapping going to the cinema or out for dinner for movie nights and dinner parties at home with friends. Make use of discount codes and vouchers and remember to cancel free trials.


If you have funds set aside, for example, you’ve inherited some money or you’ve been saving and you want to grow your money, have you thought about investing? There is a huge range of investment opportunities available, and you don’t have to start out with thousands in the bank.

Trading is more accessible than ever thanks to online sites and exchanges and you can also explore options like buying commodities and putting collections together if you want to start small.  There are platforms like MetaTrader 4 for Mac that make it more accessible too. Property investment is a popular option for long-term investors and those who have significant capital.

If you are considering this opportunity, it’s essential to research the property market, analyse figures and think about the type of investment. Are you interested in flipping or buying to let, or does the idea of a holiday home appeal to you? Set a budget, research mortgages and identify suitable locations.

Seek expert advice, look around different properties and keep your focus on the figures at all times.

Tackling rising debts

If you are in debt, and you’re worried about losing control, it’s beneficial to act now. If you are increasingly reliant on credit, or you can’t pay bills or cover rent or mortgage payments, reach out. There is help available from debt advisers and charities and you could also come to an arrangement with creditors. Try to avoid borrowing or using credit cards and tackle high-interest debts as a priority.

Many of us are thinking about money. If you’re unsure what to do next, think carefully about your financial situation. Analyse your finances, seek advice if you need help with debt, saving or investing, and set yourself targets.

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