Life Hacks Lead to Affordable Living

If you are like many other Britons, something inside continually challenges you to make improvements to your life. This shared drive sparks creative individuals to focus on particular habits and find the best, most efficient ways to conduct life’s “business”.

Whether it’s a faster route to the office or a new way to make pie, people want to improve upon the status quo, leading to “better” behavior. Although it’s nothing new, the phenomenon has taken on a modern moniker, bringing self-improvement into the 21st century. Even if you haven’t yet adopted “life hacks” into your lexicon, you’ve no doubt engaged in the practice.

Life hacks essentially represent shortcuts to some form of personal benefit. Without their promised gains, hacks might not get much attention. But in practice, when applied correctly and consistently, the pearls of wisdom can help you save time and money. Or at the very least, improve your performance, without adding expense.

Hacks for Cutting Expenses

Recent data suggest almost everyone uses life hacks. Hacks aren’t exclusively reserved for saving money, but of the 90 per cent of all individuals claiming to use them, 64 per cent say it’s to save money. A study into life hacks, conducted by Nectar, showed life hack devotees also enjoyed saving time and making their lives easier with hacks. The group also looked at the most-used money saving tactics Britons are using to hack to hack their ways to a more affordable lifestyle. The findings show we have these things in common.

Takeover leftovers – This common sense move was shared by at least 40 per cent of those surveyed, admitting that it is a key savings tool. A boost from technology has changed the way people access information about food, so the internet is not short on extreme – and not-so-extreme ways to prevent food waste. Making better use of your freezer, for instance, is only one of the easy money saving strategies suggested by recent survey participants.

Bulk up – It doesn’t always make sense to buy the motherlode of consumer goods, but there is real savings available for those willing to invest in bulk pricing. At the market, meat costs can be drastically reduced by purchasing bulk meat and freezing single servings at home. Overbuying can lead to spoilage though, so buy bulk with realistic expectations about what you can use.

Reuse it – A frugal generation of consumers has grown up with pervasive plastic packaging and other reusable containers. Jars, bottles, take-away containers, and other sturdy packages are fair game to those willing to reuse them and spend next to nothing on food storage.

Score direct savings – A little research goes a long way in a competitive consumer marketplace. Online vouchers can keep more of your money in your pocket, so time spent participating in the promotions is well-rewarded. Whether they are shopping for the best retail deals or booking travel, savvy users make the most of online price shopping sites and web-only voucher specials.

Split it – Wages don’t always grow as quickly as expenses, so taking-on the cost of a flat on your own digs deep into your monthly resources. There are advantages to remaining a renter, particularly in an expensive and competitive housing market. And sharing the burden with a house mate might be the most practical – and certainly least expensive approach, when compared to shouldering the load alone. Not only is your lease cost cut in half, but you’ll also save money sharing the cost of energy and other residential services with a housemate.

These common sense moves known as life hacks remain popular with Britons striving to make the most of their earnings. For results you’ll feel in your bottom line, apply these and other hacks to your lifestyle and watch the savings add up.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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