Save hundreds of pounds by putting a little extra thought into how you’re spending your hard earned money.
The economy may have taken a slight upturn but there are still thousands of us who are having to work harder than ever to make ends meet.
Household budgets are under pressure as never before but investing a little time in thinking about where the money goes will pay you big dividends.
Here are six tips designed to make the pounds go a little further:
Shop smart
Shop smart for your groceries. It’s amazing how much money you can save by planning your shopping round a weekly visit to the supermarket rather than giving in to impulse buying at the corner shop or at the petrol station on your way home from work. Save even more money by having a ‘freezer week’ once a month to use up the food you have stored in your freezer. Surveys have shown that even this simple measure can save you between £10 and £30 a month and you won’t be throwing away half as much food.
Fill up for less
While you’re at the supermarket, fill up your car for less. If you plan to buy your fuel at the same time as you shop for your groceries big savings can be made again. Supermarkets offer cheap fuel anyway to tempt customers to buy from them, but many also run special schemes where you can save as much as 5p on a litre of fuel if you spend £40 or more on your weekly shop.
Make your own
Savings of another £30 a month or more can be made if you make your own packed lunch a couple of days a week rather than buying expensive coffees, sandwiches, pies or pasties. Carry a notebook with you for a couple of weeks and write down everything you spend. You will be amazed at how much these seemingly small things add up to over time.
Profit from a clear out
When was the last time you had a full blown clear-out at home? We all have unwanted Christmas and birthday gifts we have never used and just end up shoved in a cupboard. Drag them all out, but don’t give them away. Get them onto Ebay and see just how much money you can make from things you had forgotten you even had.
Be careful what energy you use
Especially with winter coming on you should be carefully monitoring your energy use. If you aren’t using an appliance then turn it off. Leaving it on stand-by uses up to 75% of full power and you’re getting no benefit from it. If you have central heating, turn the thermostat down a couple of notches. Every degree less in temperature can mean a saving of as much as £50 a year. If your heating is on a timer then set it to come on 10 minutes later and switch off ten minutes earlier. You will save 30 hours of heating costs in just three months. For more ways to save check out www.energysavingtrust.co.uk
Consider switching energy suppliers
Switching your gas and/or electricity supplier could save you up to £249 a year. The cost of utilities is sky rocketing and now form a massive part of any household budget, but are you sure you’re on the cheapest tariff? Money Club can check for you as part of our completely free financial review service or check out our utilities switching page
- A little time invested in thinking about where the money goes could make you savings of hundreds of pounds a year.
