Simple ways to save money for a deposit

Does it sometimes feel like you’ve eaten up your monthly payslip? You’re not the only one.

Most of us are guilty of overspending when it comes to food and groceries, but the good news is that there are plenty of ways to save money without realising when it comes to your next supermarket shop.

Use our top money-saving techniques below to cut your food bill and save your hard-earned cash.

The Year of the Fakeaway! With the population spending more time in their home than ever this year, there’s never been a better time to make some fakeaways. Trust us – it’s revolutionary! Nando’s, Wagamama’s, McDonald's – whatever your favourite cuisine, there’s a 90% chance you can recreate it at home. Check out the below websites for tips on how to recreate your fast-food favorites and save cash while doing so.

Resist the Urge to Order Lunch. Stick to Homemade! It’s all too tempting to go for convenience and grab a meal deal or order a quick bite to eat from Uber Eats or Deliveroo on your lunch break, but it can quickly add up without noticing. A typical meal deal in a shop costs on average £3 which would equivalate to £15 a week if brought every single workday – that’s £60 a month! Imagine how much you could save over the course of a year if you stuck to making homemade food.

Shop at the Right Time of Day Supermarkets are known to reduce different items at certain points of the day up to around 75%. Make a list of items you need and keep your eye on the clock to grab some great deals.

Supermarket Cashback Apps Why pay full price when you don’t have to? Get major discounts and freebies on supermarket cashback apps such as Shopmium and Quidco.

Invest in Reusable Bags Whilst the spare 5p in your pocket may not seem a lot to spend on a carrier bag, every little adds up. Not only is it a waste of pennies but it’s also bad for the environment. Investing in a reusable bag is a win-win!

Top Tip – Keep a stash of carrier bags in your car so that they’re always in easy reach.

Loyalty Cards Gain exclusive rewards at a range of supermarkets by using their loyalty cards. Popular schemes include the Tesco Clubcard, Sainsbury’s Nectar Card and Morrison’s More Card.

Plan your Shopping List and Meals for the Week Simple but effective. Create a list of the items you need for the week ahead and shop accordingly. Try not to deviate from it and you’ll end up paying for no unexpected costs!

Expired Food Getting rid of expired food is literally like throwing your money down the drain. Linked to the above point, avoid this by planning and buying only what you need.

Make the Most of your Freezer Using this as much as possible will help you in the long run. Make meals in bulk and freeze them, store up on some frozen pizzas to avoid the costs or ordering a takeout and invest in items such as frozen vegetables which are cheaper, larger in quantity and last for a longer period.

Buy in Bulk Take advantage of buying in bulk and stock up on everyday items such as paper towels, rice and pasta.

Purchase Seasonal Foods Looking to save on fresh fruit and vegetables? It’s a good idea to keep track on what’s in season throughout the year. For example, fresh strawberries are cheapest to buy in the Summer months when they are in season. Outside of summer, try buying frozen strawberries to enjoy the same amount of flavor for less!

Make the Most of Finance Apps Thanks to technology there are a whole range of apps out there designed to save you money. In our recent article we spoke about our 4 favourite apps and how companies such as Monzo track exactly how much you spend on food and how often – allowing you to manage your spending accordingly.

Eating out? Other apps such as VoucherCodes are also great for finding deals and discounts so that you don’t have to compromise on enjoying yourself and saving at the same time.

Saving without realising

Being aware of how you shop and breaking old habits can help you save hundreds of pounds each year – leaving you with more disposable income. Use the money you save for whatever you want - a holiday, new car, items to make your house a home…the choice is yours!

Let’s talk money

Have you heard of our Money Diaries series? We're talking to real Sovereign shared owners to find out exactly what it costs to own your home with shared ownership. For an insight into how other shared owners manage their finances click here.