Everyone’s money situation is different.
For some, it may take a mere month to save £1,000, and for others, it could take six months or even a year. Whatever your financial circumstances, these are the best ways to save money for my professional book editing services without compromising your quality of life.
There seems to be countless ways to spend money, but few practical ways to save it.
So, where do you start?
You begin small.
Although it may sound like saving a few pounds here and there won’t be worth the time and energy, everything adds up over time.
Shifting your mindset towards money can take months.
After all, you are rebuilding the habits you may have built over a lifetime, so adjusting the way you spend and save money isn’t going to come overnight, but if you stick with it and follow a few of these simple tips each month, you’ll be on your way to hiring a professional book editor for your novel in no time!
But aren't professional book editing services sometimes more than £1,000?
Yes - depending on your word count and the type of editing service you require, it could cost you more or less than £1,000. But a goal of £1,000 is a brilliant place to start if you want to hire me as your book editor here at Stand Corrected Editing, and it's a great amount to put towards the costs if my services end up costing a little more.
Just remember to bookmark this page so you can revisit these tips when you feel ready to restart your savings momentum.
First Things First
Before we dive into the top 10 ways to easily save money, we need to go over a few key ideas to help you get excited and feel secure in the knowledge that you can save money.
1. Set a Goal
Of course, if you are reading this blog post, you likely have a goal to save £1,000 to put towards my manuscript editing services.
But just how soon do you want to achieve this goal?
Are you aiming to hire me as your book editor by the end of next month or in 12 months? Or somewhere in between?
Deciding on your deadline can really help you to break your money-saving goals into manageable and achievable chunks.
2. Create a Savings Account
Out of sight, out of mind.
If you haven’t already, get a separate savings account from your current account as soon as possible! With the internet and various banking apps in our modern world, it couldn’t be easier to set up an account from the comfort of your own home.
Setting up a dedicated savings account will make it more manageable to track your progress and make it much easier for you to leave the savings alone and not be tempted by rushed purchasing decisions.
3. Figure Out Your Hourly Income
Working out your take-home income per hour can help you determine a new value for each item you buy. Therefore, think about costs in terms of their monetary value.
This concept can be confusing if you are paid a weekly or monthly salary, but it does help you make smarter financial decisions.
To work out your take-home income per hour, simply take your pay slip and divide your net pay by the number of hours you work. Of course, this can be easy if you are paid hourly, but for those who earn a set salary and often work overtime, this can be a useful figure to realise.
For example, if you know that something costs £25.50 but that still doesn’t deter you from making an impulse-purchase, perhaps knowing that you would have to work for 2 hours and 25 minutes to earn the amount to cover the expenses may just make you pause enough to reconsider the spend.
4. Define Your WHY
Everyone has a different reason for wanting to save £1,000. For some, it may be to have an emergency fund in case they need to pay unexpected bills, but if you're reading this post, it's likely because you're desperate to save for my invaluable book editing services.
Whatever your reason for wanting to save this money, write it down!
Even better, stick your why on the wall so you can revisit your reason every day to help you when it seems too tempting to order a takeaway for dinner after a long day at work.
5. Track Your Spending
The best way to save money is to know where your money is going.
You can use apps such as Moneyhub or Snoop (I use that one) or switch to a bank like Monzo to automatically keep tabs on your spending through your debit or credit cards, or you could go old school and keep a notes tab on your phone where you write down all your expenses.
Yes, ALL expenses!
Just because that coffee was only £2.50, it doesn’t mean it shouldn’t go on the list.
Top 10 Easy and Practical Ways to Save Money
1. Buy in Bulk
If you have the space to store more items at home, consider how you can save money by shopping in bulk.
According to MagnifyMoney, buying in bulk could save you an average of 25% on your bill!
Non-perishable items, such as toilet roll, washing up liquid, batteries, rice, or dry pasta, can be great ones to stock up on as they won’t go bad and leave you throwing money in the bin.
Of course, you could also shop in bulk for most of your grocery items. Just be sure you buy what you can reasonably use within the expiry time.
2. Switch to Unnamed Brands
Shop smarter and spend less money on the same products.
Use online shopping to find alternatives to your usual brands, shop around and try supermarket own or cheaper brands and find what swaps are worth the savings.
Switching to unknown labels over recognised brand names could save you 30% on the cost of your bill, and you still get to go home with the same products - just made by a different factory.
So, make a conscious effort to give cheaper brands a go, and sticking with them when you know they work just as well is a sure-fire way to save enough money for my book editing services!
However, not every swap you make on your food or household items will be worth it. For example, ketchup made by a supermarket might just taste too vinegary compared to your beloved Heinz tomato sauce, but still, some swaps for things like hand soap, squash or cereal might be worth swapping out to save some money.
3. Pay For Yearly NHS Prescriptions
If you need weekly or monthly prescriptions for whatever reason, paying in advance for NHS prescriptions can save you £10s or even £100s a year.
With an NHS Prescription Payment Certificate, you can pay for 3 months or 12 months' worth of unlimited health care items.
The 3-month certificate costs £30.25, and the yearly certificate comes in at £108.10, so with each prescription costing £9.35 (at the time of writing), it may be worth signing up for this scheme to take advantage of the savings.
4. Shop Around for Fuel
Calling all drivers!
Since fuel prices are continually rising, it’s worth shopping around to find the best rate for petrol in your area. Talk to fellow driver friends and see if there is a hidden gem where you can save a few pennies when you refill your car.
If you drive a lot to commute to work or visit friends, this could be a great way to save money for my book editing services.
5. Car Share
Speaking of saving money as a driver, have you thought about sharing a car ride? If you can, offer to drive a friend or colleague to work and split the cost of petrol.
Usually, this works out cheaper and more convenient for them to hop in your car instead of taking public transport and you also get the benefit of halving your petrol bill with each trip you take with a passenger.
6. Ditch the Car
If you often drive or take public transport, switch to cycling or walking.
Not only are these ways of travel almost free, but you can improve your fitness and your mental health while getting closer to your savings goals.
7. Reconsider Your Subscriptions
Subscriptions are sneaky.
They hook us with an offer we can’t refuse and then keep us on a rolling monthly contract we feel we could never live without. But do you genuinely need a Netflix, Amazon Prime, Apple TV, Now TV, HayU, Spotify, Audible, Grammarly and ProWritingAid subscription every month?
These costs can seriously add up if you consider that every subscription is between £5 and £10 per month. So, evaluate your purchases, and even if you cut back on just one of your subscriptions, you could save an average of £60-120 a year even if you're not ready for my book editing services just yet.
Better yet, can you offer to share your accounts with a close friend or family member and then split the cost of the account? They would be mad not to take you up on this offer, especially if they already pay for an account themselves, and you can both add your saved pennies into a savings pot.
My boyfriend and I share a Spotify account, costing us just £6.50 per month instead of £9.99 each, and we both share the costs of our Netflix and Amazon Prime subscriptions.
Make the most of free trails as well! If you know you'll only want or need something for a limited time, see if that something offers a 7, 14, or 30-day trial so you don't have to pay a penny.
8. Compare Insurance Prices
One significant way to save money for my book editing services is to compare insurance prices, such as home or renters insurance, car insurance or pet insurance.
You’re probably already familiar with this concept from our good friend, the Meerkat from Compare The Market. So, if your insurance premiums are set to auto-renew, see if you can find a better deal and then approach your current provider to see if they can match the savings or switch to a cheaper provider to save money for my book editing services.
9. Shop Second Hand
Shopping for used items couldn’t be easier with the help of a few internet searches. So, get on Gumtree, eBay, Depop, Vinted and Facebook Marketplace today! Or head out to town with a reusable bag in tow and shop in your local charity shops.
Saying this, you shouldn’t purchase things that you would have bought new just because they seem like a bargain when they are used, but this can be a great way to save money on essential purchases, clothes, shoes, and furniture.
Plus, you can find hidden gems and brand new items with the tags still on, which is always very satisfying!
10. Car Boot Your Old Items
Speaking of second-hand items, why not make some space at home and flog off your unwanted stuff?
If you have quality items, stick them on a marketplace site, or if you think the things are ‘junk’, pack up your car and get ready to make a traditional, old-fashioned, British boot sale.
Even though you may not want those old kids' toys or camping cutlery, this may be just what someone else is looking for.
So, why not get a few bob for things you would otherwise chuck away?
Ready to Save £1,000?!
Of course, you already know the answer to this question, and it should be a resounding HELL YES!
Even if you only start by enquiring about a savings account and depositing £1 today, you are still one step closer to hiring me as your book editor.
So, take it one day and one pound at a time, and before you know it, you’ll have saved enough for my book editing services and you'll be one step closer to getting your dream literary agent or making it big as an indie author!
Speak soon!
Chelsea x
ABOUT CHELSEA
Hey! I'm Chelsea and I'm a professional book editor at Stand Corrected Editing, my independent editorial business in the UK. If you would like to have your manuscript thoroughly edited by myself, please get in touch!
With my book editing and proofreading services, I hope to spread my knowledge and expertise on how to make your novel a success, and be a mentor to others who desperately want to pursue a fruitful career as an author!