The cost of living is still squeezing household budgets, and it may feel as if salaries aren’t stretching as far as they used to.
When it comes to making your money go further, being more intentional with your spending can make a noticeable difference. People often think financial progress comes from big, dramatic changes like cancelling holidays or never eating out. However, small, consistent tweaks to your everyday habits, could have a much bigger impact over time. By making your salary work harder for you, you can enjoy today while still planning for tomorrow.
1. Start with a payday plan
When your salary lands, try deciding exactly where it’s going, before you spend a penny. You can do this by moving a set percentage into a savings account or separate ‘essentials’ pot for bills and food.
This ‘pay yourself first’ approach could help ensure your must-haves and future goals are covered before everyday spending starts. You’re effectively making savings and securing a non-negotiable part of your budget, rather than an afterthought.
2. Time your big purchases
Not all spending needs to be immediate. From electronics and furniture, to seasonal clothing, retailers have predictable discount cycles and end-of-season sales. By planning ahead and waiting for these windows, you can often save 20–50% on major purchases. That’s money that can be redirected towards savings, debt repayment, or experiences you truly value, and it can help your monthly salary stretch further without reducing what you buy.
3. Make use of work-related perks
Many people don’t fully explore the benefits their employer offers, yet these offers can be worth hundreds of pounds a year. Common perks include discounted gym memberships, cycle-to-work schemes, season ticket loans, and subsidised canteens. Others may offer retail discount platforms or wellness allowances. It’s effectively free money that can reduce your outgoings and help you reallocate that cash elsewhere.
4. Turn small spends into bigger wins
While cutting small spends out of your routine entirely might not be the best option, things like your daily coffee, snacks, or lunches can amalgamate to higher spends. For example, £5 spent three times a week adds up to nearly £800 a year!
By consciously swapping just a few of these for homemade options, you could free up a lump sum to put towards something bigger, such as a holiday, home upgrade, or emergency fund. This way, you can still enjoy life’s small pleasures but align them with larger, more rewarding goals.
5. Review your regular outgoings quarterly
Subscriptions, memberships, and forgotten direct debits can slowly chip away at your salary when forgotten about. Setting aside time every three months to review your bank statement and cancel anything you no longer use is a simple but effective way to reclaim extra cash.
Even if you only find £20–£30 a month in unused services, there’s still a saving to be made when streamlining your subscription outputs, without making any lifestyle sacrifices.
Ways to save with Hodge
Being intentional about what you’re spending isn’t simply cutting out things you enjoy, it’s making sure the money you work hard for is spent in ways that truly matter to you.
Even small changes can add up to a big difference, helping you feel more in control and more confident about your financial future.
At Hodge we have a range of savings accounts to suit your savings goal.
Our Easy Access savings account is great for flexible savers who want to deposit and withdraw their money when works for them, while still growing their pot.
Our Fixed Bond savings account can often give you better interest rates than our other accounts and you can choose how long you want to lock your money in for, between one and five years.
If you’ve got a lump sum and want to grow it tax-free, take a look at our Cash ISA and choose from a one, two, three or five-year term.
This article is correct at time of publishing and for general information purposes only. We recommend you speak to a professional financial adviser for advice. You can find a financial adviser and further personal finance information at https://www.unbiased.co.uk/.