From trust deeds to cheap weekends – try these money saving hacks

With the cost of living showing no sign of coming down, it’s important to make sure we’re not wasting money.

Luckily, there are some small (and not so small) lifestyle changes you can make that will help you save your pennies.

Whether it’s making sure you have a trust deed when buying a house with a partner or once a month enjoying a ‘no spend weekend’, here are the best ways to cut down your costs.

Read on for great offers and lifestyle hacks that can save you money.

Buy when prices are low

New televisions are generally released at the start of summer, so prices tend to drop on older models around June.

This is also a great month to buy a gym membership as all the people who made half-hearted resolutions to get in shape will have thrown in the towel – and means you should be able to find lower rates.

As the wedding season approaches, now is the time buy linen, dishes and cutlery as retailers know that soon-to-be couples like to list these items on their gift registries and will have sales especially for this reason.

Use sand and a plant-based oil to maintain your household tools

To avoid your tools needing regular maintenance, fill a bucket with sand and mix in a plant-based oil, such as boiled linseed oil.

Plunging a blade, tines, or teeth into the sand a few times cleans off any dirt and gives them a light coating of oil for rust prevention.

You can even store your tools right there in the pot.

Get disposable sandwich bags

Wash and reuse ‘disposable’ sandwich bags. They can often be reused for much longer than you’d think. Or simply save plastic bread bags to use instead of buying sandwich bags.

Make your savings less accessible

It’s way too easy with online banking to access your money all the time, so open a savings account that requires you to physically go to the bank to withdraw cash.

It will help you save because it requires more time and effort to go to the bank.

Get a trust deed when buying a house with your partner

Many of us wrongly think that after of years of living together, couples become common-law husband and wife, with the same rights as married couples. But this isn’t the case – as far as the law is concerned, common-law marriage hasn’t existed in England and Wales since 1753.

So, if you are buying a home with someone else, get a trust deed, or declaration of trust, which sets out the share of equity to which each owner is entitled on sale.

It’s a way for couples who have put unequal deposits into a property to protect their share in case they split up, which will also do a great deal to ease the fears of families who gift deposits to their children.

For instance, should one of you put in 60 per cent of the deposit and the other just 40 per cent, in the event of break-up and sale, the initial deposits should be returned as such.

Use cupcake liners to keeps bugs out of your drink

Keep bugs from swimming in your drinks by topping glasses with cupcake baking liners.

Cut a small X into the centre of each liner, poke a (reusable or paper) straw through the hole and enjoy your beverage pest-free.

Try a ‘no spend weekend’

Set yourself the target of a ‘no-spend weekend’ – or perhaps one every other
month if you can.

Activities could include going on walks, movie night, board games and free museums – and you’ll be able to stash away the cash you save for a rainy day.

Protect your windscreen wipers

Windscreen wipers are notorious for drying out and cracking. To help prolong their life and clean them, soak a clean white rag with glass cleaner. Wipe the rag up and down the length of your wiper blades.

Not only will you see the results on the rag, you’ll see out through your windscreen much better in the rain, too.

Overpay your mortgage to save money

Overpay a bit each month and you could chop your mortgage term and save thousands in interest.

Imagine you owe £100,000 at three per cent. According to Barclays, your repayments would be roughly £470 a month over 25 years.

But if you pay an extra £50 a month you could save more than £6,000 interest, and then pay it off three years early. Always check for early-repayment charges, though.

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