# Revealed: How Brits could save hundreds of £s a year Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-01-30 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Cut Monthly Spending in 2018 with Portafina's Budgeting Tips Meta Description: Discover how Brits could save over £2,000 a year with small changes in spending habits. Learn practical money-saving tips from Portafina to manage finances URL: https://financedigest.com/revealed-how-brits-could-save-hundreds-of-s-a-yearhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd300118-4-1736843036779-compressed.jpg) - **_Portafina shares tips on how to cut monthly spending in 2018_** It’s no lie that as a nation we love to treat ourselves, whether we are grabbing a fancy flavoured coffee for a midweek pick-me-up, or ordering a takeaway after a long day at work. Yet, it can all add up and recent research\* shows that Brits could save over £2,000 a year, by simply thinking about how significant the little things they buy are to them. Pensions advice specialist, Portafina asked the nation how it spends its disposable income each month, and can reveal how much, on average, those little buys are [costing and how much Brits could potentially save](https://www.financedigest.com/how-to-save-money-as-a-student-during-the-cost-of-living-crisis.html "How to Save Money as a Student During the Cost of Living Crisis"), each year, if they really needed to. **Monthly spend, on average****Annual spend, on average**Eating an evening meal out (36%)£25.11£301.32Having the house professionally cleaned (6%)£22.30£267.60A trip to the pub (24%)£20.34£244.08Paying for the car to be cleaned inside and out (14%)£19.77£237.24Netflix/Amazon Prime/Now TV subscription (21%)£18.44£221.28Buying an evening takeaway meal (28%)£18.27£219.24[Home food shopping delivery](https://www.financedigest.com/ikeas-home-deliveries-will-be-fully-electric-by-2025-ceo.html "IKEA’s home deliveries will be fully electric by 2025 – CEO") (16%)£17.40£208.80Taking a taxi instead of public transport (17%)£17.21£206.52[Buying a meal deal](https://www.financedigest.com/endeavor-nears-deal-to-buy-vince-mcmahons-wwe-sources.html "Endeavor nears deal to buy Vince McMahon’s WWE -sources") at lunchtime (17%)£13.84£166.08Grabbing a takeaway coffee/hot drink (16%)£12.45£149.40 The [top of many people’s lists for the new year](https://www.financedigest.com/global-crypto-regulation-body-likely-in-next-year-top-official-says.html "Global crypto regulation body likely in next year, top official says") is to save more and one of the most effective ways to do this is to spend less. For most Brits, that’s easier said than done. A great starting point is to have a clear idea of how much you are spending on those little things. Based on the research, the top 10 things that Brits consider as treats, cost on average, £2,221.56 per year. There’s a reason why many spend on the little things, of course; [working hard](https://www.financedigest.com/how-does-hard-money-lending-work.html "How Does Hard Money Lending Work?"), and treating yourself is an enjoyable and necessary part of life. Yet, even cutting just a month’s [worth of spending could save an average](https://www.financedigest.com/sports-nutrition-market-share-revenue-and-average-worth-by-makers-shared-in-an-exceedingly-latest-analysis-report.html "Sports Nutrition Market SHARE, REVENUE, AND AVERAGE WORTH BY MAKERS SHARED IN AN EXCEEDINGLY LATEST ANALYSIS REPORT") of £185.13 a year, or perhaps a lot more Commenting on the above, Jamie Smith-Thompson, managing director at Portafina, said: “The little things we buy can add up quite quickly and often without us realising. We’re all different when it comes to the little luxuries we want and [need in life](https://www.financedigest.com/why-companies-need-to-rethink-retirement-tips-for-ensuring-a-happy-life-in-later-years.html "Why companies need to rethink retirement – Tips for ensuring a happy life in later years"). But getting to grips with understanding how much you are spending on those things, and where you can spend less, will allow you to save more in the long run. To help you get started, here are three simple tips on how to get your finances in order, enabling you to efficiently [save money](https://www.financedigest.com/money-saving-hacks.html "Money saving hacks") in no time.” **Make managing money a habit.** Most of us only manage our money when we are strapped for cash or in a crisis, but making a habit of budgeting regularly reduces the likelihood of a monetary crisis in the first place. By [keeping a log of monthly](https://www.financedigest.com/dutch-governor-knot-signals-ecb-will-keep-raising-rates-in-months-ahead-ft.html "Dutch governor Knot signals ECB will keep raising rates in months ahead- FT") expenditures, you will gain a better understanding of your incomings and outgoings, allowing for more effective budgeting and saving. [Managing your money online can make things](https://www.financedigest.com/iomt-internet-of-medical-things-to-accelerate-the-pancreatic-and-bile-duct-stone-management-market.html "IoMT (Internet of Medical Things) to accelerate the Pancreatic And Bile Duct Stone Management Market") so much easier too. You don’t have to wait to see monthly statements, you can see when [money is coming out of your accounts, you can transfer money between your accounts at times of need](https://www.financedigest.com/eu-raw-material-targets-need-money-and-faster-permits-sector-chief-says.html "EU raw material targets need money and faster permits, sector chief says"), and enjoy watching your savings accounts grow. **Put money away straight after you have been paid.** If you earn £10 an hour, every £10 you spend is one more hour that you have to work before you can retire. That’s a big incentive to save!Many people try and save at the end [of the month](https://www.financedigest.com/global-stocks-trade-higher-at-the-end-of-a-volatile-month.html "Global stocks trade higher at the end of a volatile month"), hoping there is enough left after bills and spending. The [problem is there usually isn’t money](https://www.financedigest.com/the-problem-with-current-anti-money-laundering-processes-a-lack-of-context.html "The problem with current Anti-Money Laundering processes: A lack of context") left – when we consider it available, it will be spent! To overcome this, pay yourself first. You can put the money into an easy-access account so you can still use some of it if necessary, until you adjust to having less to spend. To really make the most of savings you will want to get the highest [interest rate](https://www.financedigest.com/ecb-needs-to-keep-interest-rates-sustainably-high-to-combat-inflation-lagarde.html "ECB needs to keep interest rates ‘sustainably high’ to combat inflation – Lagarde") possible and not lose the growth to tax, so look at high interest accounts and ISAs. **Plan ahead for bigger expenses.** Some expenses in life are unexpected, but there are others that we know are coming. Christmas happens at the same [time every](https://www.financedigest.com/how-to-nail-your-banking-audition-every-time.html "How to nail your banking audition every time") year, as do birthdays, anniversaries and even renewal dates for car tax and insurance. Yet, even with a full twelve months’ notice on these, it’s easy to leave it until the last minute to plan for these events and then panic about the expenditure. To break the cycle, spread the cost over the year. Decide how much everything may cost you across the year, and divide that number by twelve to see how much you need to [set aside each month](https://www.financedigest.com/german-bonds-set-for-worst-month-in-decades-as-inflation-hits-new-highs.html "German bonds set for worst month in decades as inflation hits new highs"). This [way you will always have the money](https://www.financedigest.com/five-ways-to-make-money-trading-bitcoin.html "Five Ways to Make Money Trading Bitcoin") ready. It’s far better to [set aside £50 a month for everything, then have to raid the savings for several hundreds of pounds when times](https://www.financedigest.com/home-prices-are-setting-records-while-mortgage-rates-plunge-is-it-time-to-refinance.html "Home Prices Are Setting Records While Mortgage Rates Plunge – Is It Time To Refinance?") are tight! For more information please visit: [www.portafina.co.uk](http://www.portafina.co.uk/) --- This blog is powered by Superblog. 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