Money Management

While there are many ways to save money, we have come up with at least 10 ways which everyone can use to save substantial amounts on money - funds which you could certainly make use of !

Check out these simple ideas which are very very effective :-

Don’t Always Buy Branded Goods

The mark-up on branded goods, whether it be clothing, razors blades or a bottle of cleaning fluid can be anything from 200% upwards. Much of the unbranded goods do the same task as the more expensive brands, at a fraction of the cost.

Savings Club For Xmas

Christmas is a very expensive time of year for anyone, and can often push many families into debt as they strive to give there family that “Special Christmas”. While many people have considered Christmas Clubs, where they put aside so much a week, and then receive vouchers for Christmas, there has been some bad press of late regarding the industry. Why not just set-up your own deposit account, which does not have a cheque book or bank card, that way you cannot access the funds easily. Put away just a few pounds a week, and relieve the pressure at Christmas. Simple, yet so very very effective.

Phone Offers

The land line phone market is becoming ever more competitive as pressure from the mobile phone market continues to squeeze prices. It is simple to change land line providers and take advantage of the many great offers available. Very often they will arrange the transfer from your old provider, to ensure that they can grab your business. Tell them what you want to pay, and they will listen!

Credit Cards

The majority of the UK adult population have credit cards of some kind, whether they use them for short term finance and pay them off each month, or longer term (more expensive finance). If you have a balance at the end of each month, which you are not able to pay off, you should be taking advantage of the many offers around. Whether you look at a 0% rate on balance transfers for a certain length of time, or a set lower rate until your balance is paid off, it really can pay to switch credit card providers. It is very simple, and can save you lots of money.

Family On Same Mobile Phone Network

If a number of your family are of an age when they have mobile phones, it can often be a good idea to ensure you all use the same mobile phone network. Apart from the fact that you can often agree a discount for bulk deals, many mobile phone companies offer free or reduced price calls to people on their network.. As we use our mobiles more and more these days, and we often need them to check up on the kids, this bit of advice can be very lucrative for you.

Pay By Direct Debit Where Possible

Even though there are many people who refuse or dislike paying by direct debit, there are many advantages to this method of payment. Apart from the fact that you can ensure all of your payments go out on time each month, there by avoiding penalty charges, you may be saving on the change in your pocket. Many people may for example pay their rent direct to the landlord in cash, but what do you do with the lose change? Lets say for example your rent was £300 and you took £290 out of the bank, you have an extra £10 in your possession. How many of us would be tempted to spend it just because it is available?

Use The Internet To Research The Market

Use the internet to find the best offers available, whether you are buying insurance, phones or a holiday abroad. The internet super highway has not only brought offers closer to the general public, but it has also instilled greater competition in a range of sectors. Everything is now transparent on the internet, and prices will often be cut to the bone to attract customers. Make sure that you check them out and benefit!

Sell Unwanted Items

Over the years the average family will be in possession of hundreds of different items which they either don’t use, or don’t really want, but many are afraid to throw them away. You would be surprised at the amount of people who may want to buy that old computer game, that old pair of shoes, etc. Ebay has become most associated with the purge of the family home, and the sale of unwanted goods. There will literally be hundreds of pounds stored deep in your cupboards, in the shape of goods which you will never use again. Why not raise some much need cash for yourself?

Ensure Your Tax Code Is Correct

You would be surprised at the few people who actually know what their tax code is, and what it actually means. There are many different tax codes available depending on your age, marital status, etc and they can have a big impact upon the amount of tax which the government will take from you. If your code is wrong, do not wait for the government to tell you and change it, you will need to do it yourself. The difference in the various allowances can be massive, and it essential that you regularly check your tax code.

Buy In Bulk Where Possible

Perhaps one of the best type of customer for the general retailers are the ones who buy separate items, and keep coming back time and time again. They miss out on the massive savings which can be had by looking ahead and buying in bulk, whether you are looking at batteries, fuses, or even soap, there are major savings to be made. True, you may have to spend more in the short term, but longer term there are big savings to be had.

There are so many ways to save just a few pounds, which soon mount up, but many of the UK public dislike changing their habits and often lose out. The above are not ground breaking tips, they are common sense which would benefit us all in some way.