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Money Saving AdviceIf you find that you are struggling to keep up with your debts, or simply finding that your money doesn’t go as far as it used to, then it’s time to have a look at your finances. With a bit of diligence and effort you could quickly find those extra couple of pounds to make life that little bit easier.
Have a Serious Look at Your Food Shopping
Check out supermarkets such as Lidl or Aldi. Food shopping forms a significant part of our monthly outgoings and the supermarket is where the bulk of the money is spent. Tesco takes £1 in every £8 spent by UK shoppers, but be warned, stores spend a small fortune studying ways of making us part with more of our money than we would otherwise intend to. Have you ever wondered why your favourite song is playing in the background as you navigate the aisles? Have you even noticed the background music? Possibly not, but you will have noticed at the checkout that the bill is often more than expected. To circumvent this, simply make a shopping list. Dig out the cookery books, plan a few meals and only buy what you need.
Saving: £10 a week = £520 a year
Consider own-brand goods. You can buy a tin of Asda own-brand baked beans for 14p and a loaf bread at Asda, Tesco or Sainsbury's for 19p. Enough said.
Consider Getting Stuck into DIY
We're a nation of obsessive DIYers and for around £100 you can take a course at your local adult education college to improve the skills needed to tackle most household repairs. DIY is also very satisfying and good for the mind - more importantly it will save you a fortune.
Thinking of Flying? Book Early!
Low-cost airlines have created a market in holidays for people prepared to fly to any destination provided it's cheap. You can benefit from this too. Just remember, only a few seats on each flight are sold at bargain-basement prices and once they're sold, the prices rise. So book early.
Don't 'Keep up with the Joneses'
This has got to be one of mankind’s biggest errors don’t get sucked in.
Trying to keep up appearances is little more than a costly illness. Remember, you cannot judge someone by what they have because you don't know how they got it. Chances are they're in more debt than you are.
Consider Trading Down Your Car
At the time that new car seemed a must, all the classic’s “I need a good car for work” “sick of spending money on that wreck” and so on. But can you honestly justify the ongoing expense? If not, get rid of it. Then visit a car supermarket, where you can choose from thousands of cars at knock-down prices. If you're a true money saver, consider an ex-rental model which you can pick up for a fraction of the cost of a new one.
Cancel Your Gym Membership
Can you really justify that monthly expense when a good walk or bike ride would be a lot cheaper? If you pay your £35-£40 a month by direct debit and you use the gym three times a week, great. If not, cancel your membership immediately. You'll soon save enough to buy your own bike and, if you're so inclined, a rowing machine. Consider running home from work three times a week. It's free!
National Lottery
Forget doing a tenner a week in the mad hope you are going to win and all your problems will cease. Cut it down to one ticket and put the difference in a little piggy and by the end of the year you will be the real winner.
Cut the Costs of Your Fuel & Water Bills
The recent hike in utility bills has made the utilities companies greater profits & made things tight on your pocket, lets face it we have all felt the pinch over the last few years. Being clever with your fuel costs can save you £100s every year. Don’t be scared to switch to the cheapest to save on the £££s. There are many price comparison sites out there that will help you chose the cheapest supplier for your needs.
Consider Installing a Water Meter
We take our tap water for granted. And why not? The companies behind the supply exist to make a profit, we pay them to supply water and have every right to expect it to flow from our taps. But if it doesn't rain, supply runs dry and the price goes up. So you may want to consider the possibility of installing a meter. If you have a big home with few occupants you may be surprised to learn you could half your annual water bill.
Learn to Say 'NO'
Learn to say no more often, instead of that treat that costs £50 why not treat yourself to £50 into your savings account or ISA. Saying 'no' a few times a year will do wonders for your bank account.
Cut Down on Your Drinking
A few beers after work, a few nights a week is a financially debilitating state of affairs. Set limits and stick to them. Let’s face it; if you stick to a limit you can dodge that hangover!!
The Three-for-Two Trick
Now, there's a lot to be said for buy-one-get-one-free (BOGOF) deals, especially if they pass the 'Do I Really Need This?' test. Remember you get nothing for free in this day and age!! Then there's three-for-twos: a particularly cynical way of stores to entice shoppers to buy an extra item they would not otherwise buy. The 'offer' is always priced into the deal so do your sums and shop around.
Claim Your Benefits and Tax Credits
Forget the stigma in Britain attached to claiming benefits. The Government has put benefits at the heart of the family budget and it's your money so make sure you're claiming it. That includes Child Benefit, Working Tax Credit, Child Tax Credit and other employee-related tax benefits. Worth a quick look at here.
Do You Need all Those TV Channels?
Britain is switching to digital-only television and time is running out for you to choose your new digital TV provider. The choice is already bewildering and with telephone-based services now being launched it's going to get more complicated. Packages range from £10 to the full monty, including every sports and movie channel costing around £50 a month, down to Freeview, which is free. Choose wisely. Remember you can’t watch them all at once!!
Open a High Interest Rate ISA
There are some great deals on ISAs out there. For example ING DIRECT offer one high rate of 6.0% AER* for everyone - 6.55% per annum guaranteed for 6 months from the day you open the account, reverting to their Cash ISA variable rate of 5.13% p.a., equivalent to 6.0% AER*. Have a good look around to get a good savings rate.
Find the Cheapest Home Telephone & Broadband Supplier
Shop around; the internet is littered with companies who will compare both telephone & broadband suppliers. Some suppliers offer free 24/7 calls landline to landline if you have both phone & broadband with them. Don’t pay over the odds but remember sometimes cost can mean compromise so be careful, make sure you read the terms & conditions. BT may seem to behave like a monopoly but it most definitely is not one. If you must use your phone there are scores of cheaper alternatives from cable companies that package your telephone, television and even broadband internet access to low-cost dial-up services that give you access to cheaper calls using your existing BT line.
Sell Unwanted Items on Ebay
If you have unwanted items lying around the house sell them! Ebay is easy to use and very effective. Turn clutter into cash.
Credit Cards
The only people who benefit from credit cards are the credit card companies. Pay off all of your credit & store card bills and cut the cards up! Credit/store cards are one of the most expensive ways to borrow money.
Shop Around for Cheaper Insurance
Spending some time shopping around for all of your insurance needs can save you £100s. Don’t pay more than you have to! There are many websites on the that help you compare insurance. A little bit of effort can save you ££££s.
Reclaim Bank Charges
If you have incurred any penalty charges from your bank, even if they are up to 6 years ago, you will find that it is likely that those charges were unlawful. Thousands of people are reclaiming bank charges.
Remember it’s no good reading through our money saving tips and thinking that’s a good idea, and then doing nothing, get on with it!
Money Saving Tips - Always here to help! |
