Money saving tips: Britons offer key tips to financial independence and retiring early – Express

They said: I recently switched from meal deals to homemade food. The cost of meal deals is about 720 per year, has loads of sugar, and the drinks are almost all teeth-rotting sugary soft drinks.

My homemade pasta salad, drink and snack is close to 500 per year, has more veg, and I get significantly more food for the same calories. Cost of setup is under 10 for five tupperwares and another couple of pounds for a flask.

Another saver revealed how direct debits could make a significant difference.

They wrote: Keep an eye on mid-contract price rises on broadband, phone and TV contracts.

You can push things in your favour by capitalising on the fact companies often give you a cash reward card upfront upon sign up.

If you cancel six months in due to a price rise, then your monthly cost will drop through the floor.

I just dropped my TV package and my monthly cost is now around 15 per month for 50MB broadband and phone. Small gains all add up.

And a final saver said how they selected to save their money had an impact on the funds they could put aside for their goal.

The person said: I have my committed saving - a fixed monthly amount that automatically goes into investments such as ISA and Vanguard.

Then I have my aspirational savings - an amount Id like to save but might be a stretch.

I move this additional money out of my current account and try not to touch, but it lives in a cash saving account with no penalty for withdrawing.

This way, I dont find myself overcommitting to savings, but it feels good when I dont touch that amount.

Financial independence and retiring early, or FIRE as it is commonly known, is a popular option among many Britons.

The goal is to aggressively save in order to finish work earlier with a significant pot of money from which to live.

Investopedia states that by saving up to 70 percent of annual income, Britons may be able to retire significantly earlier to live off small withdrawals.

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Money saving tips: Britons offer key tips to financial independence and retiring early - Express