1. Downgrade your monthly mobile phone tariff
Most mobile phone providers will let you downgrade your tariff if you have had the contract for over 3 months. If you are no longer within your contractual period then threatening to leave may bag you a discount on your line rental.
2. Research utilities rates
Check a compare websites and see if you can get a better rate for your electricity / gas. Paying by direct debit can also bag you a small discount.
3. Try out supermarket own branded products
They can be cheaper and just as good as branded products.
4. Research employment benefits
If you are employed by a large company, check the benefits that they offer. Many have a scheme which offers money off certain purchases i.e 5% off your supermarket shopping.
5. Take advantage of cash back websites when purchasing online
Cashback adds up and every little helps. I recommend http://www.topcashback.co.uk/
6. Check out daily deal websites
Such as group on and kgb deals for any offers on any necessary spending. This point is mostly aimed at women as I used these websites to cut down on the amount I was spending on having my hair highlighted. However it could also be used to purchase vouchers for meals out etc..
7. Research the benefits offered by many credit cards
Look at the benefits of spending on a credit card. Spending on a credit card and paying it off in full at the end of every month ensures that your money stays in your bank account earning interest for longer and paying off in full will ensure you don’t incur any charges. Some cards will also offer benefits such as cash back or vouchers. I personally like the play.com credit card as for every £1000 spent gets you a £10 voucher for play.com. You can use the voucher travel essentials such as travel guide books or gadgets.
8. Sell unwanted items on ebay
Sort through your old items of clothing and anything you don’t use anymore and sell it on ebay – again every little helps. Consider whether you really need to take your fancy smart phone away with you as it is unlikely you will be able to make full use of it due to high data charges abroad – in addition it is one more valuable to be stolen.
9. Obtain a tax refund
When you quit your job to travel its likely that you will be due a tax refund. This is because you will have only worked for part of the tax year but the tax payments you have made through PAYE will be based on the assumption that you will be working for a whole tax year. Although you may have to wait until the end of the tax year before the tax authorities will send you this refund.
10. Make packed lunches
If you normally buy your lunch at work then consider taking a packed lunch instead, so much money can be saved. For example on average if I buy my lunch it will cost me £4 a day – or £20 a week. That extra £20 a week saving will go a long way when you are traveling especially if you are travelling to Asia.
More difficult (but still possible) things to arrange may be the following:
11. Downgrade accommodation
If you are renting consider moving to a house with cheaper rent. I did just that and managed to reduce my rent by £300 a month (I was living in London and moved from zone 2 to zone 3).
12. Bag a payrise /extra hours
Consider speaking to your employer and see if they will give you a pay rise / increase your working hours / pay you for any overtime worked (you may think this is unlikely but if you don’t ask you don’t get.