Moving out for the first time can be an exciting time- but also comes with a whole host of expenses. When you first move out, the costs can pile up, this can be down to furniture purchases, having to buy all the essentials and adjusting to bills. The costs of moving alone can mount up with solicitors’ fees, paying for moving services, and paying the mortgage and bills- your budget will likely need to change.

There are some simple changes you can make but that can make a difference to your finances, whether you’ve just moved out or just want to find ways to save more money each month.

Windsor saving tips


Bulk buy cupboard staples:

When you are walking around your chosen supermarket you will see many different options of each product, giving you a choice. The supermarkets often have larger packs of certain products, for example, rice and pasta. These products tend to have a long date on them and buying the larger packs can often work out more cost-effective. For many items, they have short use buy dates and due to not being a staple you don’t want to bulk buy and increase your wastage. Additionally, bulk buying can lead to issues with storage. However, you can purchase reusable canisters to keep filling up. This can be positive for the environment but also means you can get the savings on purchasing your staples in bulk, so you are fully stocked and saving money at the same time.


Make your lunches and drinks:

Being prepared to leave the house in the morning can often be a challenge in itself without adding additional things to consider, however, being prepared really can save you a lot of money. If you are popping to buy a £3 meal deal each day for the working days, in an average month you can be spending £69 or more on just your lunch alone. Over the year this can cost you a whopping £828- money that could otherwise be in savings or put to another use.

When cooking your dinner for an evening you could increase the quantity you cook to have some leftovers for the next day- this doesn’t add much extra time to your routine but saves you money. You can also use your Sunday evening to ‘prep’ for the week ahead, you can ‘meal prep’ your lunches for the week ahead and pop them in the fridge ready to take each day. This can keep you on a budget, reducing your weekly costs by a large amount. You may also want to purchase a reusable coffee mug and water bottle to, again, reduce waste and save money. If you can make your drink before leaving the house this can save upwards of £2 each day. Many coffee companies are now doing a reduced price on drinks if you use a reusable cup, so even if you are in the need to purchase a hot drink you can make small savings through this.


Share subscriptions:

All of us tend to have several different subscriptions- but the cost of them adds up. Sharing your subscriptions with family members or friends can be a good way to save both of you money. For example, several different streaming services can allow you to have different users within the accounts and use the account a certain number of times on different devices. By doing this you can share with another person, cutting down costs. You could split the subscription bill in half, therefore, cutting down the cost or have an agreement with your chosen person that one pays for one subscription you share, and you pay for another- getting both the subscriptions you want without compromising and going without.

saving tips for first time buyers


Savvy shopping- Shop own branded items or branded only on offer:

Food shopping is a large expense, particularly when you first move out and you are trying to fill the cupboards with all the staples. There are many ways to save money and reduce your food shopping costs. One of the best ways to save money is by signing up for the loyalty and reward cards offered by the supermarket you chose to shop at. Through doing this you often receive exclusive offers and vouchers that can cut your costs down. An example of this is Sainsbury’s- you collect Nectar points when your card is scanned each shop, additionally they have now introduced smart shop prices, these are reduced prices you receive on items you frequently purchase, when you can, on the smart shop app. By scanning each item as you shop you can not only keep an eye on your spending, helping you to stay within your budget. The app is linked to your nectar card allowing you to collect points that add up to monetary points that can be spent when you wish. A lot of supermarkets are now doing some great deals exclusive to their loyalty card that can save you a lot of money.
Another way to reduce your expenditures is to shop for unbranded items- they are often considerably cheaper and the difference in taste can be minimal if at all. By doing this you are continuing to save money and overall reducing your food bill. There are always the branded treats that you just simply can’t go without- of course, there are always offers on and snapping up those deals during this time means you are not depriving yourself but being mindful of your spending

.saving money on my food shopping

Reuse and repurpose

So many things within your home can find a different purpose and get a new lease of life. Have you got old jars that can be cleaned out and get a new life as storage? This saves money and can also leave you to have a unique storage solution that not many people have. Another way to repurpose and reuse is by taking old materials and using them to create something new within your house. An example of this could be using old wood that could be from pulled up decking to create raised beds within your garden or creating old scaffolding planks to create shelves for storage. Lots of these things can be found within your home or with some careful searches. Some places such as free sites or marketplaces- taking something unused and making it work for you can be a great money-saving creative project for you it sinks your teeth into.

Having your own home and space allows you the freedom to make your own choices and create new habits that can save you money. Thinking about your expenses and where you can increase those extra cutbacks can lead to a lot more money in your pocket. Track your spending and see where you can save money at the times you need it the most.

how to save for a mortgage deposit

Contact us on 01225 962456.

Mortgage expert somerset


Published: 26th April 2022