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20 tips for being thrifty

Posted on 27 August 2014

Simple ways to spend less every day

We seem to be living in the age of austerity and are all feeling the pinch in our pockets. Looking for ways to save a little money and become thriftier is becoming an increasingly more important part of our lives. We have created a list of 20 tips for being thrifty, which will not only help you save money but may also get you thinking about the way you spend it!

Home

  • The simplest tip of all but one we regularly forget – switch off all lights behind you and unplug all electrical items by the main switch as standby still uses up a lot of power
  • Wash your clothes at 30c – saves money and helps the environment
  • Use large electrical items such as a dishwasher or washing machine during off peak hours. Contact your energy provider to find out when and if you have peak/off-peak hours
  • Changing all your bulbs to low energy bulbs- they last longer and will reduce costs on your energy bill
  • Turning the thermostat down on your heating – most households have it set too high without even realizing
energy saving light bulbs

Source: Flickr

 

Food

  • Check out the reduced shelf in the supermarket for a bargain, you can always freeze products that are close to the sell by date so you have them for longer
  • Add vinegar to an almost empty bottle of mayonnaise and season with some Italian herbs for a lovely, fresh salad dressing
  • Take your own shopping bags as some supermarkets offer loyalty points and/or charge for bags
  • Plan your weekly diet ahead and stick to the shopping list
  • Check BOGOF offers before you get fooled by the packaging and advertising. Is it really financially better for you? Do you even need two of the same product?
  • Cut back on costs by taking a packed lunch to work. Prepare your lunch the night before to make sure you have enough time in the morning.
make a packed lunch

Source: Flickr

 

Entertainment

  • Invite your friends round and buy a bottle of wine from the supermarket or off license to save costs
  • Find out when your local pub or favourite bar has a happy hour and make the most of the offers
  • Organise a ‘come dine with me’ competition with your friends and family to save costs on eating out and socialising
  • Consider using film clubs for entertainment i.e. Amazon Prime Instant Video or Netflix instead of going to the cinema or buying DVDs
  • Check sites such as Groupon, Living Social and Wowcher for low cost deals on days out and adventure activities.
table laid for a dinner party at home

Source: Flickr

 

Beauty and Fashion

  • Throw a ‘clothes swap’ party with friends and families to freshen up your wardrobe instead of buying new clothes
  • Save money on conditioner by investing in hair oil products such as coconut oil, argan oil or even amla oil. These cheap and natural products can be used on a regular basis and if left on overnight, will work wonders on the condition of your hair
  • Sea salt is great for adding intense flavour to your food but can also be used in a body scrub mixture. Mix sea salt with coconut olive oil and add a few drops of essential oil. Leave it in a lovely jar on the edge of your bath!
  • Hairdressers usually offer first time customers a big discount. Why not try that new luxury hair salon for the first time and see what they can offer you?
second hand clothes hanging on a rail

Source: Flickr

 

So why not try some of our ideas and see if they can help you save a few pennies here and there? We also have Money Saving Tips for homeowners, car owners and new parents for more thrifty inspiration.

If you’re thinking about putting some money aside for the future and would like to know more about a cash or stocks and shares ISA, you might find our article What is an ISA? interesting.

SunLife offers a range of straightforward and affordable products including over 50s life insurance, funeral plans, life insurance, pet insurance, home insurance, car insurance, ISAs and Will writing services.

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife? 

Phoenix Life Limited trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is entered on the Financial Services Register (registration no. 110418). As part of SunLife’s commitment to quality service and security, telephone calls may be recorded.

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan the funeral services are arranged and provided by Dignity Funerals Limited. Dignity Funerals Limited is a company registered in England and Wales No. 00041598. VAT registered No. 486 6081 14. 4 King Edwards Court, King Edwards Square, Sutton Coldfield, West Midlands, B73 6AP. Telephone No. 0121 354 1557. Fax No. 0121 355 808. Part of Dignity plc. A British Company. Dignity are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority but are registered providers with the Funeral Planning Authority.

Who provides the Funeral Plans?

The funeral services are arranged by a funeral director selected by Golden Charter Ltd. Golden Charter Ltd are not required to be authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority in relation to funeral plans but are registered providers with the Funeral Planning Authority.

If you choose to pay for your funeral in one go, with a single payment, you will have a contract with Golden Charter. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

If you choose to pay for your funeral with a life insurance policy, the policy will be provided by Phoenix Life Limited, trading as SunLife. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides Family Life Insurance?

SunLife Family Life Insurance is provided by Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Details can be found on the Financial Services register (registration number 110002). Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ. 

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.