How to save more money in 2020

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How to save in 2020

Let’s face it, we all have trouble trying to save from time to time. Sometimes, the issue is spending a little too much money when we go out for drinks with friends. Other times, the problem comes down to an inability to avoid over-spending whenever a festive season or birthday celebration occurs.

Save more money

The good news is that whatever your financial problem may be, there’s always a way that you can improve your relationship with cash, and potentially save more money. If you’re looking forward to an opportunity to make a positive change to your finances in 2020, the following tips could help you to get on the right track.


Pick a Bank that Appreciates You
You’ve probably noticed that there are a lot of different banks available today – from online-only companies, to high street banks that advertise their loans and interest rates in the windows. Whether you’re looking for a savings account or a loan, it’s always a good idea to choose a bank that appreciates you or even a reputable online lender like That means one that will discuss your options with you to get the best interest rates and offer you benefits like no ATM fees or high returns on your savings.

Smaller banks and online lenders tend to offer better perks than their larger corporate counterparts. If your bank can’t accommodate you with any benefits, contact them and ask what you can get.


Treat Savings as a Bill
One of the biggest problems that people have when it comes to forcing themselves to save money is that they treat their savings as something that they can choose to manage or ignore each month. However, your savings should be one of the segments in your monthly budget that you treat as a mandatory expense, just like your rent or your council tax.

To reduce your risk of losing out on savings, start by treating them as a bill. In other words, figure out how much you can reasonably afford to put aside each month, and set up an automatic direct debit from your current account to your savings account each month. Eventually, you’ll start seeing saving as a necessity, rather than something just nice to have.

Use a budgeting tracking app

Use Apps
The digital world has both positive and negative effects on savings today. On the one hand, shopping online makes it really easy to spend money with one-click purchases and direct checkout systems. Additionally, if you’re always getting emails about sales, it can be hard to resist the opportunity to spend. On the other hand, tech and applications can also make it easier to save if you use them correctly.

For instance, if you have a specific goal that you want to reach, then you can use a budget tracking app to improve your chances of success. These apps will help you to watch every penny you spend, so you know where you need to cut back.

Use cash

Use More Cash than Plastic
Plastic is so convenient. It’s much easier to carry a little card with you to the supermarket and around all your favourite stores than it is to carry cash. However, when you get used to spending on your card, you stop seeing the value in what you’re spending. Eventually, it’s easy to overlook just how much money you’re wasting on little things.

On the other hand, if you can switch to using cash more often than plastic, you can give yourself a specific budget to stick with every day. Figure out how much you can afford to take with you whenever you leave the house, then take that and nothing else.

Budget Budget Budget

Have a Budget
Finally, as boring as it might sound to sit down and look at your money once a month, it’s the only way that you’re going to really figure out where all of your cash is going. Taking the time to go through your bills and figure out where you need to cut back, where you can afford to spend more, and so on will give you more control over your spending. Once you’ve set your budget, you’ll also need to keep going back to it over time.

Remember that your financial situation can change in a matter of minutes. Something as simple as the decision to join a gym changes how much cash you spend each month. Keep updating your budget as often as you need to. Don’t be afraid to ask your partner to help you if you’re living with someone too.


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