Opened a savings account and started burrowing some spare money away? If so, you might be less than pleased by how long it’s taking for said savings to mount up. May we present five inventive ways to put some extra cash aside in 2023, then? Read on for a handful of top tips…

Do a Detox

No, we’re not talking about going cold turkey on your favourite snacks and putting yourself – and your body – through a veg-packed juice cleanse. Instead, we mean ‘detoxing’ your digital life – everything from your online subscriptions to your email inbox.

You’ll know that cancelling subscriptions – including magazines and any online film streaming accounts you don’t use – is one pro savings tip.

But have you thought about unsubscribing from any newsletters you currently receive from all those online retailers you shop with? After all, if you no longer receive a flood of emails from your favourite shops, you can’t be tempted to splash the cash. A simple but effective way to save money.

You could save hundreds each month, just by hitting ‘Unsubscribe’ on a handful of emails.

Exercise Online

How often do you go to the gym? If you’re shelling out for a monthly membership yet not passing through the doors, it could be time to explore free fitness classes or workouts on YouTube and Instagram. Many fitness influencers offer shorter workouts that aren’t hidden behind a paywall.

If you can put up with a few adverts here and there, YouTube provides plenty of variety too. You could stand to save yourself up to £60 per month if you cancel your in-person gym membership. Not bad at all.

Unity Mutual’s Lauren Holden says: “I love Pamela Reif’s workouts on YouTube. They’re hard work but you don’t need too much kit – worth a go if you don’t want to spend a fortune on your gym membership. Or you don’t trust yourself to go often enough to get your money’s worth.”

Leave Your Purse at Home

It may sound simple – and perhaps even a little impractical – but if you know you’re not heading too far, consider leaving your purse at home when you go out for the day.

Instead, take only the cash you know you’ll need (and maybe leave some loose change for emergencies in a safe place in your car). That way, you won’t overspend on anything unnecessary. No purse = no temptation – and you could save a fair few pounds by doing just that.

Repair Broken Items

When items around the house need repairing (resulting from everyday wear or tear), it can be too easy to simply head to Amazon and buy them again.

Instead, pop over to YouTube again – you’d be surprised how many channels offer reliable advice on giving old, broken items some much-needed TLC.

Make sure you carry out repairs safely, though, putting all the necessary precautions in place, looking for videos which start ‘How to fix…’ or ‘Fixing a broken…’.

You might find that your hometown offers a ‘repair café’ too – a fun version of TV’s Repair Shop, where a trained team will restore your item(s) to its former glory for free or cheap.

Try a 30-day No-spend Challenge

Now here’s a fun and inventive way to save money…

While many of us fall foul of impulse buying, plenty of savvy savers are trying hard to combat the urge in 2023 and beyond. How?

They’ve imposed a 30-day no spend challenge. They do this by taking a screen shot of anything they want to buy online; when a targeted Facebook or Instagram ad pops up, they screenshot it and save it in a hidden folder on a phone or laptop.

If you’re thinking of doing this too, you’ll be shocked by how much it can help cut down your spending. After the 30 days, open the folder you set up and see whether you’re still keen to make those purchases. We bet you’re no longer tempted by them – and who knows how much money you could save if you do this regularly. Anything from a few pounds to a few hundred.

Will you be trying any of these money saving tips out for yourself? Let us know by joining the conversation on Facebook.

Until next time…

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