If 2020 has taught us anything it’s that we really don’t know what the future holds! At a time when jobs, companies large and small and providers of any services are struggling to adapt we all need creative ways to save money where possible.

So how can you maximise your savings and make wiser choices? It’s hard to know how to live on a budget and save money?

Sometimes it can be difficult to tell which activities will give you the best savings. Should you buy bitcoin, take out an ISA, or are there other changes you can make day to day which will make a difference.

Here are our tips on how to budget and save money on a small income.

1. Save money on food shopping

One of our biggest monthly expenses and something most people overspend on. Try to shop in the cheaper supermarkets and buy own brand products. Don’t be tempted by all the buy one get one free offers and other tricks. Look at shelves high up and low down as the most expensive products are placed at eye level. For tighter budgeting, meal plan before you go out or get an online delivery with a cheap slot so you aren’t tempted to buy extra items.

2. Don’t shop at full price.

One of the best ways to save money is to check out what you need online before you shop. You can find out when specific retailers are having sales or offers on particular items on weekly shopping ad sites. Then you will be able to buy something you already planned to purchase but much cheaper and make a great saving.

3. Where does your money go?

Figure out where you spend your money. Maybe you haven’t realised that your daily takeaway coffee costs almost £3 a day! Do you always add extra items to your basket when checking out? Are you having weekly takeaways to cheer up the family in lockdown? Unfortunately, these all add up. Try swapping your coffee for a reusable cup and taking your own coffee to work. Don’t add that extra bar of chocolate or mini toy for your kids at the checkout. Can you make that takeaway cheaper? Or have it once a month? Before you feel cheated, work out how much money you would save if you didn’t eat takeaways? It’s scary how much they cost. These little items all add up and this is an easy way to save money each month.

4. Impulse shopping

Do you really need it? And do you really love it? If you see the odd item which is calling to you but you know you should be saving don’t buy right away. Give yourself a month. If after that time you still think about it and mourn for it. Then buy it. But most likely you will have forgotten by then.

One of the easiest ways to shop for clothing and homewares now without breaking the bank is to try Vinted or Depop. Both can be useful even for new trends or clothing which would be a bigger investment like coats or uniform.

5. Maria Kondo your home!

Have a clear-out and sell your existing unwanted items. Rather than hoarding more things. If you really want to buy something and spend money try to raise it first. We all feel better in decluttered homes so take care of your possessions and then they will be in good condition to sell on when the time's right. This way you don’t spend as much cash buying brand new items.

Can you implement any of these changes so you save money shopping in the future?