TikTok has launched a new #savingmoney hub so users have easy access to financial tips to help them with the cost of living crisis.
It’s the post-Christmas lull and we’re all a little strapped for cash, so any ways we can save some money in our day-to-day life are welcome.
The good news is that TikTok has introduced a space with some of the best money-saving creators to ensure you can find whatever financial advice you’re looking for.
Whether it’s how to cook zero-waste meals, saving on energy bills, what certain financial jargon means or how to thrift – there’s something for us all.
With that in mind, we’ve curated our six best tips from the app so you don’t have to search for yourselves.
Let’s get saving.
Saving money on utilities
Saving money on utility bills is something we all know we should be doing, but it’s hard to sit yourself down and actually do it.
Beloved TikToker Ann Russell gives straight-talking advice on how to barter your bills and the process you can follow to get your outgoings in order.
Simply set some time aside to sit down, search for the cheapest quotes, take them to your current supplier and pit the companies against each other. This will lower your outgoings significantly when it comes to insurance, broadband, and energy suppliers.
Then make note of all the subscriptions and outgoings that aren’t essential and see if you use each one enough to justify paying it – otherwise get rid.
Understanding your financial situation
Want to grow financially this year? The place to start is to know where you are at right now. There are 3 main categories: Building Wealth, Financial Foundations and Financial Recovery. I was in the 2nd and 3rd and now am in the first. Where are you? #finlit #fintok #personalfinance #moneyeducation #moneyconversations #moneyformillennials
The key to taking control of your finances starts with a simple evaluation of your financial status.
For TikToker and money educator Anna, every person fits into one of three categories (one, two or three) and she them offers tips on her account that are appropriate for your category. That way the financial advice is tailored to you.
Category one is where you are seeking to grow your wealth. You have an emergency fund, good income and you’re putting aside money to invest.
Category two is where you have a decent income but no emergency fund and you have no extra money for financial growth because you haven’t put systems in place yet.
Category three is where your finances are tough, you may have some debts or you’re unsure how to go about financial recovery.
Once you’ve figured out your category you can tailor your financial strategy to reach your goals, saving you money in the long run.
Let’s save energy by not following the instructions! Cut a third of the energy used by following this simple tip. ➡️➡️➡️ Right this way for perfectly cooked rice – every time! 🍚 #savingenergy #costofliving #energysaving #cookingrice #rubbishcooksathome #rubbishcooks #foodtok #recipeideas #savvycooking #foodwaste #fyp #foryou #foryoupage #viral #scrappycooking #foodwastewarriors #sustainability #doitwothtiktok
Who doesn’t love getting free food advice from a Michelin-starred chef?
Tristan Welch shared how to cook using the least amount of energy and with cheaper foods, like rice.
He also shares tips on how to cook zero-waste meals as well as fun tips like making an espresso martini from used coffee grounds.
A guide on cash-stuffing
*Disclaimer – this is how we have budgeted our everyday expenses, ypur budget may look a little different. . Cash budgeting is a great way of budgeting our everyday expenses as once the money is gone, its gone! . If you are new to cash budgeting, you could just start with one or two categories. Some people find online savings pots easier to manage than cash, so there are variations for everyone🙌 . Have you started budgeting, how are you finding it? . AF link to the binder im using in my bio💕 . . . . . #cashstuffing #cashenvelopes #cashbudgeting #budgetingmadeeasy #everydayexpenses #cashstuffingenvelopes #cashstuffingasmr #cashstuffingsystem #irishfinance #moneytok #budgetfriendly #irishbudgeting #cazmooney #cazmooneysirishbudgetingplanner
Cash-stuffing is perhaps an underrated method for monthly budgeting, but knowing where to start can be tricky.
This TikToker shares her method for cash-stuffing for two weeks for a family of five.
First, start with the total sum of cash you can afford for that two weeks, then allocate certain amounts into labelled pouches for each expense. This ensures you never go over budget on each expense.
Pouches include food and petrol as well as optional expenses which can also be budgeted for.
Staying warm at home for less
How you can stay warm at home and save money on energy bills #savingmoney #heatingtips #hometips #costofliving #energytips
A lot of us are still working from home and heating is literally burning through our money.
Tanya shared some easy tips for keeping as much heat in your home without wasting money.
Keep your radiators clear to allow heat to radiate effectively, introduce soft furnishings and thick curtains over the windows (or put a blanket over your blinds) to keep the heat in.
Get your manual and programme your thermostat properly to control when the heating is on and off as well as how warm it is – taking the time to understand your thermostat will save valuable cash.
TikTok is hosting a livestream on Thursday 26 February:
Follow @TikTok_UK to join a Do it With TikTok livestream, for non-stop life-hack workshops.
- 3pm REVIVE: Learn how to mend and upcycle loved clothes with @fashionrevolution
- 4pm RESET: Discover yoga and mindfulness tips with @pangaia & @nikyyoga
- 5pm REINVENT: Make your food waste go further with ‘rubbish’ cooking with @chef_tristan_welch & @crystellepereira
- 6pm REPURPOSE: Level up your home & garden with @JoesGarden
Thrifting not shopping
what’s your fave find???👀🔎 #carboot #carbootsale #carbootsaleuk #carboothaul #carbootfinds #carbootchallenge #thrifted #thriftwithme #thrifthaul #thrifttok
For some of us, we are quick to jump to the conclusion that charity shops and car boot sales don’t have much to offer.
But you couldn’t be more wrong. TikToker Becky shows her followers everything she can get by thrifting and her outfits are very inspiring.
Simply give yourself a budget of £5 and set yourself a challenge to find an outfit if you’ve got an occasion coming up.
Thrifting is a fun way to save money rather than spreading out payments with Klarna and paying more for delivery of packages.
James Stafford, the general manager of ops and marketing at TikTok UK, said: ‘Supporting each other in creative and innovative ways is what TikTok is all about.
‘Throughout January and beyond, we will be shining a light on the creators who are sharing practical, creative and useful content, that inspires and supports our community every single day.
‘So whether you are looking for an intro to DIY, a new family recipe or a bit of help understanding financial jargon; TikTok offers you the content you need, to make life a little bit easier.’
Alongside this event, the TikTok UK team and TiKTok creators, will be heading out into their local community to volunteer with the Lifeafterhummus, Community Benefit Society, to help raise awareness and support those who need it most.
What is Lifeafterhummus:
Lifeafterhummus is a surplus foodbank and re-use centre and is a member of the Independent Food Aid Network.
IFAN’s vision is a country without the need for charitable food aid where adequate and nutritious food is affordable to all.
IFAN calls for governments and national and local partnerships to prioritise a cash first approach to food insecurity and to work together to address the root causes of food insecurity and poverty.
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