Boost Your Savings: Creative Ways to Save Cash Effortlessly

Saving money is a goal many of us strive for, but sometimes it can feel like there’s just not enough cash left over at the end of the month to boost your savings. However, with a bit of creativity and planning, you can find ways to increase your savings without drastically changing your lifestyle. 

In this blog post, we’ll explore some strategies you may have yet to consider before, including side hustles, meal planning, DIY projects, and taking advantage of IE Hub’s benefits checker to help you potentially boost your income.

To listen to a full podcast episode on this topic, listen to Pocket Perspectives Podcast S2E3.

Why Does Saving Matter?

If you want to understand the benefits of saving, head to our blog post about Emergency Savings. The top benefits of saving are:

1. It provides a safety net for unexpected expenses.
2. It helps you to achieve long-term goals.
3. It offers peace of mind for the future. 

However, for many of us, saving can be almost impossible for various reasons, such as low income, high living expenses, or a lack of financial education.

Challenges to Saving

Some people might find it difficult to save because they are living paycheck to paycheck, where their income barely covers their expenses, leaving little room for savings. 

Others may struggle with impulse spending or lack of budgeting skills, making it challenging to set aside money to boost your savings.

Additionally, unexpected emergencies can force you to dip into your savings or rely on credit cards or loans to cover expenses. 

Without a solid financial plan or emergency fund in place, these situations can lead to a cycle of debt and financial instability. This is why it can be beneficial to consider the ways that you can bring in some extra income, both on your own and with the help of IE Hub.

Side Hustles 💼

There are so many opportunities to earn extra cash outside of your regular job. Whether it’s driving for a delivery company, freelancing in your area of expertise, or selling handmade crafts online, side hustles can provide a valuable source of additional income to help you boost your savings and achieve your financial goals.

Obviously, it is important that whatever side hustle you do, you learn what you need to do in terms of paying tax. There is plenty of information available online that can teach you how to complete a tax return.

🚚 Delivery Service

With the rise of online shopping and food delivery apps, becoming a delivery driver has become a popular side hustle in the UK. 

Platforms like Deliveroo, Uber Eats, and Just Eat offer flexible earning opportunities for drivers to deliver food from restaurants. Then you have your Amazon, and DPD drivers delivering parcels ordered from online retailers. 

Whether you prefer delivering on a bicycle, scooter, or car, there are options available to fit your lifestyle and preferences. With the ability to set your own schedule, working as a delivery driver can be a convenient way to earn extra cash on your own terms.

💼 Freelancing

With the rise of remote work and digital media, freelancing has become more common than ever in the UK. 

Whether you have a passion for social media, marketing, photography, or absolutely any online skill that you have. Many people are becoming virtual assistants in their free time, helping people and businesses with admin and online tasks.

If you are a student or graduate, websites like UniBeez can help to connect freelancers with businesses that are looking for specific skills, making it easy to find opportunities that you can take advantage of. If you are not a student or graduate, you could try websites like fiverr, which have a huge range of freelance jobs available for you to take advantage of! 

🎨 Selling Handmade Crafts Online

If your skills don’t fall into the online categories we have talked about, then this might be useful for you! If you have a talent for crafting or creating unique products, selling them online can be a lucrative side hustle. 

Platforms like Etsy provide a marketplace for crafters to showcase and sell their creations to a global audience. Whether you’re into jewellery-making, woodworking, knitting, or pottery, there’s a niche market out there for literally anything! You can even create downloadable PDF documents for things such as Meal Planners, Savings Trackers, the lot. 

In fact, check out IE Hub’s Pocket Perspectives S2E3 for a show and tell of some of the savings trackers that are available on Etsy and other online stores. 

When choosing a side hustle, consider your skills, interests, and availability. Look for opportunities that align with your strengths and what you prefer to do, and research different platforms to find the best fit for your goals. With dedication and effort, your side hustle can become a valuable source of additional income, helping you achieve financial stability and get those savings going!

Meal Planning 🥦

One of the biggest areas where you can boost your savings is on your food expenses. Meal planning allows you to plan out your food shopping, reducing food waste and unnecessary spending. 

Start by creating a weekly meal plan and shopping list based on what you already have in your house and what’s on sale at the shop. Cooking in bulk and freezing leftovers can also help stretch your food budget further.

However, we have written a whole blog post on this, so go and check out Meal Planning 101: Smart Shopping Hack for Cash Savings. 

DIY Projects 🛠️

Instead of using all your cash for products and services, why not try out some do-it-yourself (DIY) projects? 

Savings and Satisfaction

DIY projects have two main benefits: they save you money and they provide a sense of satisfaction and accomplishment. Whether you’re doing home repairs, renovations, or making personalised gifts and decorations, DIY projects can massively cut costs compared to hiring professionals or buying ready-made items. 

Not only will you boost your savings, but you’ll also experience the pride that comes with completing a project with your own two hands.

Endless Possibilities

The beauty of DIY projects is that there are just endless possibilities and anybody can have a go at them! There are so many tutorials, guides, and resources available online. Just type what you want to do into YouTube or Google and I guarantee there will be something out there to get you started!

You can tackle virtually any project, even if you have never done anything like it before. Just follow the guides, and have some fun with it, and you are saving money in the process! What is not to love?

You can even join online DIY communities and forums so that you can connect with other people who are starting their own DIY projects for tips, advice and inspiration!

IE Hub Benefits Checker 💰

At IE Hub, we understand that every penny counts when it comes to building your savings. That’s why we offer a benefits checker tool to help you identify potential sources of financial assistance that you may be eligible for. 

Discover Hidden Opportunities

From Universal Credits to disability benefits, our benefits checker can help you uncover opportunities that you didn’t even know you could be eligible for. You can maximise your income by finding out what benefits or sources of income you may have overlooked or been unaware of. 

Whether you’re a student, a single parent, or facing financial hardship, our tool can help you access the support you need to reduce your financial stress and boost your savings.

Reducing Your Expenses

As well as identifying opportunities to boost your income, our benefits checker can also help you reduce your expenses by showing you discounts and social tariffs that you might qualify for.

Wouldn’t it be great to save some cash on your Council Tax, or on your water bill? Head over to IE Hub and find out what you are missing out on!

Our Other Tools

But that’s not all! In addition to our benefits checker tool, IE Hub offers a budgeting tool designed to give you more confidence in your finances and in managing money. 

You can track your income and expenses so that you can see how much money you have to go towards your savings goals!

To Sum it All Up!

Building up your savings doesn’t have to be an overwhelming task. By looking into side hustles, meal planning, DIY projects, and using resources like IE Hub’s benefits checker, you can take proactive steps towards achieving your financial goals. 

Remember, every little bit adds up, so start small and stay consistent. With dedication and determination, you’ll be well on your way to a healthier financial future!