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Five tips for a successful Frugal February

Maxine McCreadie
Maxine McCreadie

17th January 2025

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If your goal to spend less and save more is off to a shaky start (same), Frugal February can help you claw back further costs. This challenge is designed to help you form healthier spending habits and start the year on solid financial footing.

Whether you want to boost your savings, reduce your debt, or build an emergency fund, there are plenty of things you can do to shift your money mindset. So how does the challenge work? And how much could you save? Here are our top five tips for a Frugal February.

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1. Cancel unused subscriptions

According to Finder.com, the average UK household spends as much as £696 a year (£58 a month) on subscription services. But if you fall into this category, how many of them do you actually use? From £11.99 on Spotify to £4.99 on Netflix, these seemingly small payments can add up over the year – especially if you’re not getting your money’s worth. By trimming your unused subscriptions, you could free up more money for savings and add hundreds to your emergency fund, lessening the financial burden of an unexpected expense.

 

2. Cut back on takeaways

The odd takeaway here and there might not make too big of a dent in your budget, but by cutting back on them altogether, you could save yourself a small fortune. We all have those days where cooking is the last thing we want to do but by planning ahead, you can have a quick and nutritious meal in a matter of minutes and stop yourself reaching for the takeaway menu. Leftovers also make for great lunches – especially if you make more than you know you’ll need the night before.

 

3. Swap the cinema for the sofa

We all know how expensive a trip to the pictures has become, but you can recreate the cinema experience from the comfort of your living room for a fraction of the cost. And the best part? You have complete control over the movie, lighting, and snacks. Simply browse the streaming services you already pay monthly for and cosy up knowing you’ve not spent a fortune.

 

4. Shop second-hand

From charity shops to online marketplaces, getting into the habit of shopping second-hand can lead to significant savings. With most people using the new year as an excuse to clear out the clothes they don’t wear anymore, you might even discover hidden gems that you wouldn’t find by buying brand-new. A recent survey by the viral shopping and selling platform Depop also revealed that users can save up to 25% per item – that’s an average of £185 a year. What’s more, not only will you be saving money, but you’ll be contributing towards a healthier and more sustainable environment.

 

5. Stick to a shopping list

Before the weekly food shop, take the time to write a shopping list and make a conscious effort to stick to it. With a plan in place, you’ll be less likely to waste your money on unplanned purchases and give in to impulse or emotional spending. Another top tip is to avoid shopping when you’re hungry as this can lead to you making decisions based on cravings instead of price (or nutritional value).

 

If you’re worried about making ends meet this month, don’t hesitate to reach out for expert advice. We can help you find the best solution for your financial situation.

Find out if you qualify to write off up to 70% of your unsecured debt!

Maxine McCreadie
Maxine McCreadie

Maxine is an experienced writer, specialising in personal insolvency. With a wealth of experience in the finance industry, she has written extensively on the subject of Individual Voluntary Arrangements, Protected Trust Deed's, and various other debt solutions.

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Our debt experts continually monitor the personal finance and debt industry, and we update our articles when new information becomes available.

Current Version

January 17 2025

Written by
Maxine McCreadie

Edited by
Ben McCormack

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