Weekly Roundup: Save Money and Live Better
This week, we’re bringing you the best tips and tricks to help you save money and live better. From converting your garage into a tiny home to cutting costs on your household bills, we’ve got you covered.
Garage Conversion: A Cost-Effective Way to Live with Your Parents
Stacy Lince and her widowed mother Lee Riech were both struggling to make ends meet, spending a combined £3,000 a month to rent both of their homes in Santa Barbara, California. To save money, they decided to pool together to buy a home with a detached garage, which they converted into a tiny home for Grandma. The 380-square-foot garage is less than a fifth of the size of the home that Lee had shared with her late husband, but she loves it, telling Youtuber Kirsten Dirksen that the cozy space feels like a “hug”.
Grandma’s new home
Top Tips for Saving Money When Travelling
Deciding where you’re going and when you’ll get there is the exciting part of planning for your travels. Equally as important, though, is budgeting to be able to afford a great getaway, without breaking the bank in the process. Here are some top tips for saving money when travelling:
- Use a VPN when booking flights: A VPN will conceal your location and browsing history from flight comparison websites, allowing you to find the best deals.
- Take advantage of the off-season: Traveling during off-peak seasons can benefit you in several ways. By avoiding tourist-heavy months, you can secure cheaper hotel rates and flights.
- Skip on the hotel stay: When it’s feasible to do so, opt out of staying at hotels. For larger groups or extended stays, consider apartment rentals instead.
- Don’t rent a car: Before traveling, research public transportation options available at your destination instead of renting a car (unless it’s absolutely necessary).
- Rent out your home: If you consider renting out your residence while you are away, it can help cover your travel expenses and may even bring you a bit of profit.
Save Money on Your Household Bills
Home insurance premiums increased by 19% between the first three months of 2023 and the same time period this year, according to the Association of British Insurers (ABI). But there are ways to cut costs if your premium has soared in recent months, and it starts by not auto-renewing your policy. Insurers will often charge you more when your policy rolls over than what you were being billed before. By shopping around for a better deal and using it to haggle your provider’s initial offer down, you can save hundreds on your home insurance premium.
Financial Planning for College Students
College students know the struggle of pinching pennies to make ends meet. Paying for books, groceries, rent, and then adding potential student loans to the mix can be a recipe for debt. Here are some habits college students can implement from day one to help soften the blow:
- Create a budget: Keeping track of how much you’re spending on each individual thing per month is a good start.
- Cut out unnecessary subscriptions: Do you really need to have every one of the streaming services, or is there one you don’t use?
- Pick up side hustles: If you have any spare time, picking up side hustles like tutoring or meal delivery can bring in extra cash.
Host a Gender Reveal Party on a Budget
If you’re expecting a baby, you’ll want to share the news with your loved ones in a fun and creative way. Here are some affordable ways to make your announcement:
- Bake a cake: Whip up a Victoria sponge cake with blue food colouring for a boy, or pink for a girl.
- Use a pinata: Fill a pinata with coloured sweets depending on whether the baby is male or female.
- Create a balloon pop: Fill a balloon with confetti and pop it to reveal the gender.
Gender reveal fun
