When you’re working on a big goal together like buying a house, or planning the wedding of your dreams, working out how to save money together is a key part of the plan. After all, without a lump sum of cash, how’re you going to fund it? To help you become a savings champion quickly we’ve put together four money saving ideas for ambitious couples with big goals.
How to save money together: 4 money saving tips for couples
1. Cook for each other more
Cutting out those takeaways can help reduce your costs, and enable you to put more money aside for your savings pot. But cooking for each other can do more for your relationship than saving money alone. Some say that food is the language of love. So making tasty meals for each other can help you keep the sparks flying. And, even if you’re not feeling terribly romantic, it’s probably healthier than a takeaway too. What’s not to love?
2. Make it a competition, who can save the most?
Make saving money more fun by turning it into a competition. You could compete on a weekly or monthly basis to see who the next savings champion in your household will be! Perhaps the winner gets a prize, like not having to do the washing up for a week. And don’t forget, when starting to build a regular savings habit for the first time, Loqbox can help. Loqbox makes it easy to save money, while building your credit score at the same time, for free. Find out more here.
3. Exercise at home or outside together
Some say that a couple who exercises together, stays together. And we love this idea. Plus choosing to exercise together outside or at home is free! It’s also a fun way to hang out together, and if you have children, or a dog, you can get them involved too! Family game of frisbee in the park anyone?
4. Before you buy anything, look for the best deals
The biggest hurdle to saving money is that you do actually need to spend it. There are essentials that you just can’t get by without. Whether that’s food, cleaning supplies, toiletries, utility bills… you name it. Money is constantly leaving our accounts. But we can lessen this by making changes to how we spend on these things to ensure that we’re getting the best deal. For instance we might switch our energy supplier to get a better rate, look for cashback offers on our food shopping and search for discount codes before we checkout anywhere online. Over the course of a year, these savings really add up.
For more tips on growing your financial savviness as a couple be sure to check out our blogs on managing your money together and how to work on your big goals together.