Ten tips for saving money

Wednesday, 27/08/2014

10 tips for saving while maintaining your lifestyle

While UK unemployment is down to 6.6%, inflation is increasing at a faster rate than wages – essentially, prices are getting higher at a speed our pay isn’t keeping up with, making saving fundamental. Here's some money saving advice for keeping your spending to a minimum without drastically altering your lifestyle:

1) First and foremost, if you don’t need it and will never use it, don’t buy it. Even if it is on sale.
2) Supermarkets generally sell own-brand goods at a lower price. They’re always cheaper than the equivalent goods from other brands, and are usually of the same quality.
3) Comparison sites are rife at the moment, so use them! Whether you’re buying car insurance or going on holiday, make use of these websites as they could save you a lot of money. Don’t be afraid to shop around as well, as sometimes the best deals are found on the selling company’s website.
4) Check discount websites, as they offer vouchers for a range of activities and products. If you’re a student, make use of the student deals available through student specific discount sites.
5) Bulk buy foods that don’t go out of date – if salt is on a two for one deal, grab a second one even if it will sit in your cupboard for a while. The same goes for toilet roll, kitchen paper, and most cleaning products.
6) Figure out whether or not you actually need a TV license. If you only watch TV on demand, or stick to DVDs, you don’t need one. £145.50 saved right there.
7) If you’re booking flights shop around and check comparison sites as mentioned above, but also be sure to delete your cookies, as the price of tickets is often set to increase with multiple viewings.
8) Use your own two feet to get from A to B more often. Not only does it save money, but it’s also good for you.
9) Consider investing in a thermos – that coffee that you buy on your way to work every day may be a life saver, but there are cheaper ways of getting your caffeine fix.
10) Remember that loyalty card you were given that’s gathering dust somewhere? Use it!

Payday loans are not suitable for, and would be expensive as, a means of longer term borrowing and are not appropriate if you are in financial difficulty.

Representative 1269.7% APR

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk