Top 10 Quirky Ways to Save Money

With inflation on the rise, bank rates plummeting and a recession on the horizon predicted in Q4 of 2022, it’s no wonder many are looking for alternative ways to save money. As a financial analyst, I’m always on the lookout for different ways to save (my partner would call me a penny-pincher, I like to think of myself as careful!) and I’d like to share with you some ideas. I’m sure some you’ll agree with me on, some not quite so much, but either way, each are currently being adopted by people across the globe to save. So, let’s get into my top 10 quirky ways to save money.

1. Cancel your gym membership and exercise at home

I can practically hear gym rats screaming obscenities at the screen whilst reading this, but the reality is, gyms are expensive. Particularly when you add up the cost over the period of a year or two. In the past 3-4 years (and particularly since the COVID-19 pandemic and the lockdowns that came with it) there has been an influx of ‘get fit at home’ routines and exercise programmes released some of which give tips on things you can use around your home in lieu of expensive gym equipment. Sam by Wood have an extremely popular routine that has yielded exceptional results. Check it out. Potential savings: £200-£800+ per year

2. Re-use tea bags

Yep, you heard me correctly, re-use those tea bags. Only 1 in 4 Brits re-use tea bags in the UK and the reality is, tea bags can be used twice. The cost of tea bags has steadily risen over the past 2 years and if you simply re-use you will spend half of what you spend in a normal year. I can attest that the tea tastes the same if you re-use bags – so trust me here Potential savings: £100-£200+ per year

3. Bulk buy items

Have you ever heard of shops like Costco? If you haven’t, then you need to get familiar because it honestly changed my life. Costco is a store that allows you to purchase food and other household items in bulk (wholesale) which means the unit cost of goods purchased is normally lower (a lot lower in some cases) than in high street stores. We tend to buy cleaning products in bulk, but you really can buy anything in bulk. Potential savings: £500-£1000’s depending on what you buy

4. Enter a prize draw

Ok, so this one is a little more controversial, particularly when I’ve compiled a list of how to save money and not ‘gamble it’ away. However, it’s a quirky way that people have and will continue to win a lot more money than what they started with. I’m not here advocating gambling, I’m just saying, having the occasional splurge on the lottery or a prize draw site could change your life. I’m a little biased here though since the wife recently won a prize with DayMade – but hey, if my wife can win (and she’s arguably the unluckiest person on the planet) – then anyone can. Potential earnings: £50 - £100,000’s (if you’re lucky, millions!)

5. Ladies, sell your eggs

Nope, not chicken eggs, but your actual reproductive eggs. It’s a long-winded process and there’s a lot of vetting/eligibility hoops to jump through, but average compensation ranges from £5000+ which is a fantastic earner. This one’s a little more out there, but for £5000 in the bank, it could be worth your time. Potential Earnings: £5000+

6. Skip Christmas

I can hear your gasps, particularly the people that are hardcore Santa lovers, but the reality is Christmas is a very expensive holiday. Brits spend on average £1,108 over the Christmas period – and perhaps instead of doing Christmas one year, you skip it altogether and have a small break away? Give it a try, it’s worth it when it comes to your bank balance. Potential Savings: £1000+ per year

7. Cancel satellite or cable TV

This one was a big one for me personally. I sat at home with the wife one evening and asked her when the last time it was that we had watched Sky TV – her reply was ‘a few months ago’. We were spending on average £70 per month on our Sky subscription and most of the shows we watched now were on Netflix. If you’re not using it, get rid of it. Potential savings: £300-£1000 per year

8. Use your dinner leftovers to create another meal

In the UK we actually waste 1/3 of all our food each year. Prevent unnecessary food shopping bills by repurposing leftover food into a meal the next day. Take last night’s dinner and re-create it with beans, rice or something else – it’s a wonderful way to save. Potential savings: £400-£800 per year

9. Use vinegar to clean

Vinegar is a fantastic cleaning supply that just isn’t hardly used. Did you know you can save on all the expensive cleaning products and use vinegar on things like your household appliances, bathroom and other household items? Give it a try, it’s simply amazing. Did you know you can also wash yourself with vinegar too? Potential savings: £300-£400 per year

10. Unplug appliances!

You know that standby light on the TV? That uses electricity. Same for every other household appliance that is left on standby or that is plugged in. Unplug all of your appliances at night before you go to bed. Believe it or not, this can save you hundreds of pounds a year! So get unplugging! Potential savings: £200-£500 per year