67% of UK citizens are unable to save money, according to CNDL / SPC Brasil survey. Many of these people believe that it is not possible to save without losing the quality of life and that it is necessary to drastically change their lifestyle.
Although, it is possible to make some simple modifications to the routine, cutting non-essential expenses, and having a great impact on the financial health. This means that it is possible to save money without losing quality of life.
After all, quality of life has nothing to do with spending lots of money every month. The secret is to be able to balance finances, avoid debt and set priorities and what really makes you happy.
Running away from financial stress is what can actually make quality of life a priority. But you must be thinking: if this is really true, how can I save without losing the quality of life?
In this article we will show you how you can make smarter choices to keep your financial health up to date without having to give up your quality of life.
Want to know how? Go ahead in this article and have a good reading.
How is the financial health of the UK residents?
49% of UK citizens stated at the beginning of the year that they wished to save money in 2021 showed a study by CNDL / SPC Brasil. However, more than half of them (65%) believed it was impracticable to improve their financial health.
In this scenario, the quality of life is completely affected, and 8 out of 10 people had negative impacts on their emotional life, said another CNDL / SPC Brasil survey.
The big issue in this case is that many of the UK citizens, who have some kind of income, believe that it is not possible to save without losing the quality of life.
Nonetheless, the secret of good savers is not in a sacrifice that will make you sad, but in planning and organization able to make smarter financial choices.
Making these choices, in a thoughtful way, and making strategic substitutions can change your financial life
How to save?
Saving without losing quality of life is possible and depends a lot on self-knowledge. IT'S essential for those who want to keep their savings up to date without having to drastically change your routine:
- Get to know yourself;
- Establish priorities;
- Maintain balance according to the standard of living you have;
- Avoid debt and excessive spending;
- Identify your own lifestyle to cut costs;
- Recognize what actually makes you happy.
Tips to save without losing quality of life
An important point for those who want to save money without losing their quality of life is make smarter financial choices. This requires greater control over money.
It is that old story that you must dominate money and not it dominate you. So that you can save money without losing your quality of life. Below we have separated some tips for you to follow.
In Brazil, according to SPC Brasil and CNDL, out of ten people eight say they have no control over spending. This lack of knowledge of expenses, on a recurring basis, directly influences the quality of life.
This is because when there is a lack of financial control, it is impossible to save correctly and maintain a quality of life. Without control of money, financial decisions become wrong and it is normal for money to be lacking at the end of the month.
So, to save without losing the quality of life it is essential to have control over spending. Setting up a monthly spreadsheet with fixed and variable expenses can help you visualize your reality.
Cut expenses it is one of the first steps for those who want to save money without losing their quality of life. And when it comes to cutting expenses, we’re not focusing on things that you actually use, but what you wouldn't miss if you cut.
For example, you have a 100gb cell phone plan and you pay £ 300.00 and you only use 50gb per month. Wouldn't it be better to pay for the 50gb worth £ 150.00?
In this example we can see that in just one expense we have already cut the expense in half and certainly there are other costs for your month that can be cut like that of the cellular plan. Like TV subscriptions, streaming, internet and others.
It is necessary, in a plan to save without losing the quality of life, to consider all types of expenses, no matter how small. Because only then, you will be able to eliminate minor expenses to reap rewards at the end of the month.
Especially because with small cuts the final savings can be big.
Get ready for shopping
One Neon Payments survey showed that the supermarket ranked first in terms of consumer spending. The supermarket, as it is a recurring expense in people's lives, is a God help us if there is no planning.
It is impossible not to buy something more if you do not know exactly what you need on your trips to the supermarket. That is why preparing for shopping is closely linked to saving without losing the quality of life.
Make a short list to avoid extra expensestherefore, it avoids impulse purchases. And there's another tip, you know that cookie or that cleaning product you buy? Try to find a more affordable brand.
Any economy it will help you save money and if you plan to buy in advance and opt for products from cheaper brands it will not make you change your lifestyle drastically.
Plan your food expenses
Of the total expenses with food for UK citizens, 32.8% of them are made on the street, according to IBGE. This corresponds to £ 215.96 monthly. Giving up this type of habit, which is eating out, is not easy, but it is possible to do it responsibly.
Why not change your routine and instead of eating out every day, take lunch when possible? Or who knows how to exchange that trip to a restaurant for a night at home with a pizza with friends and shared value?
One possibility is also to plan your finances and set aside part of your budget to spend throughout the month on this extra food. without overdoing it. Did you see how it is possible, in the case of food, to save without losing the quality of life?
You don't have to give up this expense, just control it and change your routine making smarter choices, like the pizza night we mentioned.
Change your lifestyle
Changing the lifestyle, but not only that, knowing your economic condition is part of the process of saving without losing the quality of life.
No one who spends above the limits of what he earns will maintain the quality of life. Let's suppose that you earn 2 thousand reais, but spend £ 4 thousand every month, for sure you will live all the time worried and stressed to pay the bills.
This means that the reality you want to live does not match your economic situation. To save money with quality it is necessary to assess your current standard of living and try to fit it within your means.
Quality of life does not mean having too much or too little money, or living a richer or more restrained lifestyle, but rather being able to plan your expenses to live well without exceeding your budget.
Review your lifestyle, assess whether it matches your financial reality, so you can save money without losing your quality of life.
Organize your vacation
UK citizens spend an average of £ 2,005 on a trip. 37% do not buy tickets in advance and 51% do not pre-book their stay, indicated a survey of Ferratum, a leader in financial services.
Undoubtedly traveling can be a great component for those who want to cool their heads and keep the quality of life up to date. However, anyone who does not plan ends up spending more and turns the trip into a future problem within the budget.
If you want to travel on your next vacation, start planning ahead. Even on a trip it is possible to save money without losing the quality of life.
If your budget doesn't fit in a five-star hotel, that doesn't mean you won't have fun if you get a two-star.
If you want to save without losing the quality of life on a trip, look for the cheapest period, that ticket on sale or a more affordable stay, thus making a financial choice or smarter replacement to save.
To save, you don't necessarily need to give up traveling, but you must organize yourself in the right way. Since, traveling is like saving and requires planning.
Search before you buy
Research before you buy, this should be a rule for those who want to save money without losing their quality of life.
Currently, there are several websites and applications that offer coupons and make product price comparisons that can help with a previous evaluation.
Buying without research is a mistake that can cost you good money. You know that product that costs £ 2,000 in the store you usually buy, so it may be costing £ 1,500.00 in another store, which is as reliable as your favorite.
No wonder, 49% of UK citizens point to the lowest price as the main factor to choose a purchase, according to the National Confederation of Industry (CNI). And whoever does this is on the right path to saving without losing quality of life.
This type of prior research is valid both for buying high-value items and for paying less for dinner, lunch, leisure activities, among others.
Save and maintain quality of life
Throughout this article we have tried to hit the key that it is possible to save without losing quality of life. We show that small attitudes can have a big impact on financial health.
Simple changes in routine, such as cutting expenses, defining lifestyles, saving on food and planning a vacation can help in this regard.
Every financial strategic choice can weigh up front, so that you avoid debts and maintain the quality of life. Since financial difficulties can cause numerous health problems and compromise your health.
Researchers from the Universities of Arizona (University of Arizona) and Virginia (Virginia Tech University) revealed that more 82% of people who had a bad financial situation suffered from a health problem, such as stress, anxiety, depression and others.
We already talked about the topic in the article “Financial health vs. physical health: what are the impacts of this relationship?”, Read this article clicking here.
We also show that it is possible to live well, leading a quality life without having to give up things that make you happy.
The secret is to plan, make strategic choices, change habits and be happy without spending lots of money irresponsibly. And you, did you like our article? Did you learn how to save without losing quality of life?