We're money-saving experts – easy ways to make your money work for you so you can work less & still afford what you want

IF you thought the only way to make more money was to pick up more work hours, then you better think again.

You can rack up more savings by working less, according to the experts, and you can still afford those little life luxuries too.

"Managing your money goes a lot further than just waiting for your cheque to clear every month. There are little changes you can make to your life to make big changes," said Julian House, from discount experts My Favourite Voucher Codes.

Some of these changes can be done at home, which can make your money stretch further.

But others allow you to uitilse your time on the clock meaning you're earning more for every working penny you make.

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How to make your money go further from home

Earn cashbacks and rewards when you spend

The cost of shopping has increased drastically, and that we can't avoid. But we can get rewarded for our spend.

"Getting cash back is a great way to reduce the extra financial burden," said Makala Green,an expert for all things finance.

"The average family can save between £2,500 to £5,000 a year with a cash back or reward card."

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Check out cash back or reward credit cards to ensure you get your money’s worth when you spend.

Shop around

Be sure to compare prices across the web when you shop to ensure you're bagging the best deal available, the discount experts at www.myfavouritevouchercodes.co.uk advised.

"Websites like My Favourite Voucher Codes make it super easy to find the best discounts," they said.

Jo Thornhill, money expert at MoneySuperMarket, agreed and said: "Shopping around is a good way to save," particularly on your car, van or home insurance.

"If you can afford to pay up front for an annual policy you could find you can make savings compared to paying monthly," she added.

Invest

"Investing has been made so much easier to access and earn a potential better return on your money over the long term without you overcompensating your time," said Makala, author of The Money Edit.

"You can invest as little as £1, and your growth potential can be beneficial."

The idea of investing is to watch your money grow thanks to compound interest.

But Makala warns,investing carries risk meaning you can lose capital. So always seek financial advise where needed.

Rent out your space

If you have a spare room in your house, or you're going away on holiday, perhaps consider renting out the space for some cash.

"Renting out storage space or a spare room is becoming more common and is an easy way to make more money with little time," Makala said.

"You can expect to receive on average around 50% of what storage companies receive and lucrative rental income from renting out a room. "

Companies like AirBnb have made this easier to do – and the money made can go towards your own mortgage or rent.

Travel at undesirable times

It sounds insignificant, but altering your journey by as little as 15 minutes can drastically change the price of your trip.

"If you’re able to plan ahead and it doesn’t cause you major inconvenience, actively choosing to travel at times that would be considered undesirable can land you significantly cheaper tickets," the discount experts said.

Earn more while you work, without working more

Charge appliances while at work

Most of us are guilty of charging our phones overnight. On average this costs just under £5 extra to your energy bill, Penny O’Brian – MoneyTransfers’ financial advisor told Fabulous.

Instead, she suggest saving this cash and charging your phone at work instead.

"Not only will this save your electricity bill, but from a work perspective what better way to avoid distraction than keeping your phone charging while working," she said.

Bring a packed lunch

The average lunch costs £5 per day which can result in spending up to £1,200 a year – that's a lot of money we could be saving.

Instead, Penny suggest taking a packed lunch to work instead.

"Not only can this save you lots of money but it gives you the chance to eat tastier and healthier lunches than you ordinarily would," she said.

"To really see the money you are saving, you could transfer the £5 a day into a high interest saving account, boosting your savings even further. "

Ask for a pay rise

The most ideal way to earn more money is to get a pay rise, however one in ten workers report they feel nervous asking for one, Penny said.

"If you feel you have been working hard you are genuinely deserving of a pay increase, then set up a meeting with your managers," Penny said.

But avoid simply saying 'I need more money' and instead focus on providing valid points as to why you deserve a pay rise.

Claim tax relief 

Not many people realise the relief they're entitled to when it comes to tax, Penny said.

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"If you have worked from home at all during the pandemic, you can apply for tax relief to cover extra costs incurred," she said.

This could cover things like heating, energy and broadband costs, and while you might not see this money each week, a hefty sum come tax time is something to look forward.

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