Saving money is a common goal for many, and fortunately, there are numerous ways to do so. Here are some practical tips on things you can do for free that can help you save money.
Free Education
The internet isn’t just for memes and outrage. There’s also lots of really useful information and free online courses that can help improve your skills in areas such as painting and decorating, sewing, or basic car repairs. Think about how much money you could save if you weren’t so reliant on other people’s expertise.
Free entertainment
You can also save a ton of money by making a few simple lifestyle changes. Going out does not mean you have to spend lots of money. Enjoy the seaside and outdoors more and keep an eye out for open days at heritage sites which frequently include free, or reduced entry price. Malta also offers a host of outdoor events and festivals throughout the year which are generally free to enter.
Proper budgeting
Unfortunately, most people don’t have a clear idea of how they spend their money. There are plenty of free apps that can help you track your expenses and plan your finances. This is great information if you are looking to work out where you can spend less.
Doing things at home
Cooking at home, or organising events like film nights, together with your friends and family might not be entirely free but it’s likely to be a lot cheaper than eating out or going to the cinema. Your home can also be the venue for some great nights in.
Take the bus
How much do you spend each year on your car or taxis? If you’re resident of Malta and Gozo and have a personalised Tallinja Card, then public transport is free. Taking the bus might not always be the most practical solution but dropping even a few car journeys will help reduce your spending.
Sell stuff
We’ve all got things in our wardrobes and cupboards that we haven’t worn or used in ages, even though they might still be in good condition. Maybe now’s the time to declutter your home and sell items you no longer need.
By using some, or all, of the tips highlighted above, the amount you can save will certainly increase. This will help you put money aside to create the financial buffer we all need in case of unexpected expenses and, just as importantly, give you the opportunity to start building a financial nest egg for those longer term goals.
MeDirect Bank (Malta) plc, company registration C34125, is regulated by the Malta Financial Services Authority and is licensed to undertake the business of banking in terms of the Banking Act (Cap. 371). The Bank is a participant in the Depositor Compensation Scheme established under the laws of Malta.
