Money Saving Tips

Very few people make out a budget for themselves or their family and often find that their money doesn't seem to go very far. Maybe finding those few extra pounds each week could make the difference between managing your money and keeping out of debt.

Have a look through our money saving advice and see if it can make a difference. Try to set yourself targets or even try to make it fun. By doing things differently you might just see a difference to the amount of money in your pocket and who knows, stay out of debt.

Having said that serious debt problems require more than just more careful money management and if this applies to you do not put it off, contact us and we can look at your particular situation and advise you accordingly. We have helped thousands of people, with serious debt problems. Read through the following advice but the most important thing is to take action to make things happen and make a difference.

Food Shopping

For most people supermarket spending accounts for the majority of their regular outgoings. Recent figures suggest that Tesco takes £1 for every £8 spent in the high street by shoppers in the United Kingdom. Vast amounts of money are spent by stores devising ways that they can get you to spend more money. Is it not the case that you often have far more items in your trolley than you had originally intended? Consider the following.

• Make a shopping list and try to stick to it.
• Cut down on pre prepared meals.
• Invest in a cookery book
• Buy supermarket own brand food
• Do we really need the buy one get one free. Remember nothing is for free and definitely in a shop. 

Then compare the difference.

Keeping up with the neighbours

• Don't even bother because they are probably broke to.
• Say no to those impulsive buys just because it looks good 

Do you really need that big expensive car

Why not trade it down? Taking out an HP agreement, that seemed good at the time, may now look rather impulsive, particularly if you are now struggling to pay for the basics or they are going on the credit card. Instead of the£200 per month on HP, what if you'd saved £200 for a year. That’s£2400 and in a car supermarket, or the like, you could maybe buy what you needed, own it outright with no further payments of £200 per month.

Do something for the environment. Go green.

• Go to a price comparison site and consider switching energy providers.
• Switch off lights and standby equipment in your home
• Turn the thermostat down on your boiler
• Boil just the amount of water you need in the kettle
• Install a water meter

 Watching your fuel bills could save you £££'s and the planet.

Cancel that rarely used gym membership

• Start regular walking or riding the bike
• Buy an exercise video
• Maybe jog to work once a week provided it's not too far!
• Stay healthy and cut down on the alcohol and cigarettes

National lottery

You are only going to win the odd tenner. Spending £5-£8 per week isn't really going to increase your chances of the 14 million to 1 jackpot.

Spend £1 per draw and put the rest of the amount you would have spent in a jar. Count it up at the end of the year and see how much you have won.

E.g. £5 sat draw; £3 wed; draw over the year

Lottery £104( 52 weeks x2)

Jar  £312

Going on holiday and flying

 Book early as this is when you can get those cheap seats. A bit of extra planning can save you money which will give you more for your pocket when you eventually get there.

Make sure you claim the benefits you are entitled to

Supplementing your income with benefits is not the stigma it once was especially when we consider the cost of raising children in the UK today.

Look up child benefit and working tax credit:

Check HERE

Saving has never been easier

There are some great rates on ISA's on the market at present. Read the daily papers for up to date rates.eg ING DIRECT offer one high rate of 6% with 6.55% per annum guaranteed for 6 months. Have a good look around especially if you are following some of our money saving advice. You might be able to afford to save!

Telephone, TV and Broadband

The internet provides comparison sites as all these areas can be a minefield. Do some research and make sure that you are paying for what you want and not for packages that you don't need or will never use.

Have a go on Ebay or even car boot sales

Some people make a living from it but most of us could get rid of a few unwanted items on it. Remember every little bit helps

Pay off expensive debt

• Try to get rid of those credit cards
• Pay off most expensive first
• Make a debt reduction plan

Reclaim bank charges

You can reclaim bank charges going back 6 years. There are internet sites that will explain the process and give you sample letters. Many people have been successful as, up until now, banks have generally settled before the case has gone to court. However do it soon as this may not always be the case, particularly if the banks do devise an alternative strategy or the courts change their rulings in the light of the banks defence.

Remember if you think any of the above is a good idea. Don’t procrastinate. Go for it!

Money Saving Tips

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