Money Saving Tips
Whatever your income, you can make the most of your money by looking for the best deals and thinking about ways in which you may be able to cut costs.
One of the ways to track your spending is to fill in a budget planner, writing down the money that comes in and the money you spend on various items each week, fortnight or month.
This puts you in control of your money and helps you track where your money is going. When your budget is written down, it is easier to prioritise your spending and think about where some savings could be made, either now or in the future.
Sometimes, you can save money by spending differently.
Here are a few ideas to get you started:
- Consider changing your gas or electricity tariff – sometimes customers in receipt of certain benefits can change to a cheaper tariff, saving about 10%. Try Uswitch or Money Saving Expert.
- By using low energy light bulbs, turning electrical appliances off at the wall and only filling the kettle with amount of water you need you will save energy…and money. View more ideas to help you save energy, money and the environment.
- Check out whether a freeview box may be cheaper than an existing digital TV package
- How often do you use your mobile? Would a contract or pay-as-you-go be cheaper or could you text rather than ring?
- Check with your provider to see how much it costs to ring an 0800 or 0845 number from your mobile.
- Paying bills by direct debit is usually the cheapest payment option if you have a suitable bank account – Tandem can help you choose and apply for a bank account that is right for you.
- Make a shopping list and stick to it to avoid impulse buying and reduce food bills. Use low-cost supermarkets to stock up on essentials, and shop for other things whilst the sales are on.
- Buying saver stamps to spread the cost of your TV licence or car tax could help you to budget your money.
- Are you entitled to a free bus pass?
For more detailed information based on your own financial situation please contact a Tandem adviser.