The easy way to save money monthly

If you’re looking to get your finances back on track and cut costs, this guide will show you how to save money with the help of an icount current account with prepaid card!

If you’re new to the icount prepaid Mastercard®, you may not be aware of its financial advantages. There are countless ways to use the card and account, including using it for building your credit score and paying bills.

If you’re looking to get your finances back on track and cut costs, this guide will show you how to save money with the help of an icount current account with prepaid card!

How to save more money in 2018

Saving money in 2018 is easier than you think, especially with an icount prepaid Mastercard! With a prepaid card, you can easily budget your monthly spending as you can only spend the amount of money you load onto it. This can help you to stick to a set budget each month and work towards achieving your savings goals.

There are also a wealth of new gadgets and apps appearing on the market that are designed to help you save rather than spend. Some of our favourite tools to save money include:

Personal finance apps

With the growth of artificial intelligence (AI) and mobile technology, we’ve seen a wealth of useful personal finance apps appear on the market. From Cleo to Money Dashboard, these handy sites can not only help you save money, but they’re also easily accessible on your phone, making it easier for you to analyse your spending on-the-go.

18-25 Railcard

The 18-25 railcard has allowed the younger generations to save on travel costs for many years, so if you haven’t already got one, be sure to apply for yours this year to cash in on the savings. You can even get your railcard in digital form via an app, so that you don’t have to worry about leaving your card in your bag or wallet!

In addition to this, a 26-30 railcard is due to be rolled out in 2018, so keep your eyes peeled to see when the card is due to be released.

Switch to a cheaper mortgage

Remortgaging your home can help you to save a significant amount of money, and you can do it as many times as you like.Many mortgage deals are on a fixed-term basis of 2 to 5 years, after which point your lender will put you on a standard variable rate. If your deal is about to end, be sure to scan the market for new mortgage deals and lower rates that could help you to save money on interest fees.

Join loyalty schemes

These days there are countless loyalty schemes for you to take advantage of. If you do your weekly shop at the same supermarket every week, it’s well worth checking if they have a loyalty scheme so that you can save on your everyday purchases.

Many loyalty scheme providers also send exclusive offers and discounts to their loyalty card holders, so you can save even more by signing up!

Open a savings account

If you’re unsure of how to save money every month, or you already have sizeable savings in a current account, it’s always a good idea to open a savings account.

Some banks will provide interest rates of up to 5% for 12 months, so it’s worth shopping around to see which banks and building societies are providing the best rates.

Despite this, it’s important to remember to read the Ts & Cs before opening a savings account. Some banks have specific criteria that you should meet before you can obtain the best rates, so it’s best to identify these clauses early on.

Shopping on a budget

The icount current account and prepaid Mastercard is a great tool to utilise to help you stick within your shopping budget. Simply load your money onto the card and head out on your trip to the shops! You can only spend the amount you put onto the card so you won’t be able to overspend on your shop, as you would with a standard debit or credit card.

For those who want to know how to save money fast, you should also take a look at your spending habits. Looking at your overall expenditure can help you identify areas where you can cut back and save more money.

 

Get exclusive rewards when you shop online with icount

Here are a few more top tips for shopping on a budget:

Make a list (and stick to it!)

Before you set out on your weekly shop, be sure to make a precise list of everything you need. If you have a list to hand, you’re less likely to buy unplanned items and treats and consequently, increase your grocery bill.

Look out for the yellow label on food

The yellow food label will be your best friend when it comes to food shopping. The yellow sticker signals that the item is about to go out of date and is therefore on sale for a reduced price.

There is nothing wrong with food with the yellow label, so be sure to keep your eyes peeled on your next supermarket trip and take advantage of the offers.

Bring your own bags

It’s easy to think that ‘it’s only 5p’ when you get to the till without any plastic bags, however, over time these small sums of money can add up.

As they say, “look after the pennies, and the pounds will look after themselves!”, so don’t forget to take your old plastic bags on your next shop.

Plan your meals for the week

Meal-prepping is not only an affordable option, it can help you to stay healthy, too!

Those seemingly ‘affordable’ meal deals can cost you at least £70 a month. Instead, plan your meals in advance and budget your food shop so that you don’t go overboard on weekday and weekend meals.

Buy treats and snacks during the big shop

If you account for treats and snacks within your weekly shop, you’re less likely to overspend on them during the week. Make them a part of your allocated budget so that you’re not hit with any surprises at the end of the month.

Smart ways to save money

It may feel like you’re out of options if you’ve been saving for a significant amount of time, however, there are limitless ways to save money if you’re stuck in a rut. Below, we’ve listed our top 8 methods to help you do just that.

  1. Set goals with budget tracking apps – As mentioned earlier, there are a wide range of mobile apps to help you save money. Hook these up with your bank account so that you can set goals and stick to them.
  2. Share media streaming accounts – If you live with family members or housemates, there’s no reason for you to have more than one streaming account between you. Simply sign up to one Netflix account and save the additional funds.
  3. Inflate your tyres – Did you know that you could be wasting fuel by driving on deflated tyres? Make sure they’re topped up to the manufacturer’s recommended amount to make your fuel go further.
  4. Window shop online for comparing prices – Before committing to an in-store purchase, make sure you browse online to see if you can score a better deal elsewhere.
  5. Free video call apps – Want to catch up with friends for free? Apps such as Fring allow you to video call and communicate with friends for no charge!
  6. Low-cost or free wireless access with your mobile – There are hundreds of O2, Sky and BT Wifi hotspots up and down the country. Avoid high phone bill costs by connecting to one of these spots whilst you’re out and about.
  7. Free books – If you’re a glorified bookworm, use Stanza to read eBooks for free!
  8. Plan your expenses by weeks – If you budget week-by-week rather than on a monthly basis, it can be easier to stay on top of your overall spending.

Best prepaid card for saving money

There are several advantages of the icount prepaid Mastercard, one being that it’s great for saving. You can limit your spending by loading your allocated funds onto the card, so that you won’t spend more than your budget. Some of the other key advantages of the icount card include:

  • Controlling your expenses – Easily see what money is coming in and out of your account.
  • Track your payments in real-time – You won’t have to wait for your most recent transactions to show up on your statement as you would with a standard bank account.
  • Set up direct debits/standing orders/bill payments – Use the card as you would a normal current account with all of its easy-to-use features.
  • User-friendly mobile app – Manage your money on the go with the icount mobile app.

 

Thinking of applying for icount?

Find out how to apply for an icount current account with prepaid Mastercard®.

icount vs Tuxedo Card

So now you know all about the icount card, but how does it fare against another respected provider, the Tuxedo card?

icount Prepaid MastercardTuxedo Prepaid Mastercard
  • Card fee – £4.95
  • Card fee – £9.95
  • No transaction fees
  • No transaction fees
  • Up to £250 iDraft (overdraft facility)
  • 3% charge to load money at PayPoint
  • £9.95 monthly fee
  • £4.99 monthly fee
  • £1,650 maximum card balance
  • No charges to load money at the Post Office
  • £0.99 charge to load cash at the Post Office
  • 50p UK ATM withdrawal fee
  • 50p UK ATM withdrawal fee
  • Load money instantly with cash at the Post Office
  • Load money via debit/credit card

Budgeting with reloadable prepaid cards can be a breeze, so apply for your icount prepaid card today to experience the advantages for yourself! For more financial guidance and money-saving advice, visit our other money guides for our exclusive tips and tricks.

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