How to save money on everyday activities 1


1) Switch Utility Providers – Sounds simple doesn’t it? But by knowing exactly which website to use can save you even more money. A recent report published by the BBC found that websites like money saving supermarket hide the best deals. A website I would recommend to help you slash electricity and gas prices is the Big Deal. The website will use collective bargaining to set a price that is most beneficial for all that sign up.
Potential Savings: £100s a year

2) Cook at Home – This may sound obvious but trust when I say this it is the easiest way to save money. I used to be one of those people that would eat out every other day until I started going to the gym regularly. This meant that I had to cook most of my meals and would only get take-out or go to a restaurant on the weekend. Cooking at home allowed me to save £20 a week. When you quantify the figure to a year, its a massive saving of £960 and you get the added benefit of eating more healthily.
Potential Savings £960 a year

3) Cashback Websites – Using cash back websites will allow you to reclaim some money on expenses you use everyday such as rail tickets, your broadband and even your mobile phones. You can get great deals at TopCashBack and QuidCo.
Potential savings: £300 a year

4) Make a Shopping List – If you go for your weekly shopping trip without making a list, chances are that you will be tempted into buying unnecessary stuff that will add to your shopping bill. The large supermarkets have employed psychologists to help identify how shoppers move through the supermarket and thus have strategically placed ‘impulse’ buys that will tempt you into buying a product you never planned for.
One trick is to never go shopping when you are hungry because your mind will make you buy chocolates and crisps you might normally not have bought.
Potential Savings : £20 a week = £1040 a year

5) Install a Water Meter – Without a water meter, your bills are based on the rateable value of your property and not the amount of water you use. Thus, installing a water meter will cut down your annual bill considerable especially if you live alone, have a small family, live in the city centre or live in a house with a high rateable value. You can get a free water meter from most water companies so there is no reason not to install one.
Potential Savings : £100s a year

6) Save on Council Tax – As council tax is calculated on the value of your house at the last assessment, most peoples assessed house values are too high. Many assessments have never been properly adjusted down to reflect the market over the last 6 years. Getting an assessment now can get you into a lower band for council tax purposes and save you almost £200 a year.
Potential Savings : £200 a year

7) Shop around for Household Insurance – Research has found many homeowners continue to just renew their premium every year rather than shopping around. This allows your current insurer to simply just increase your price even if you have not claimed. Make sure you get quotes online annually from various different companies. This can be done online easily by visiting a comparison website.
Potential Savings: £100s a year

8) Remortgage your Property – Did you get a mortgage whilst interest rates where high? If so, now is the time to re-mortgage your property. Cutting your interest rate by even 1% on a £100,000 mortgage will save you between £70 – £80 a month. Make sure you check for the cost of re-mortgaging before taking this option. Remortgaging is best for people with 7+ years left on there mortgage.
Potential Savings: £100s a year

9) Get a Cashback Current Account –  Does your current account offer you a cash back service? If not, you really need to think about switching banks or opening an account in a new bank. Banks like Santander offer you cash back on various direct debit payments you make every month like 1% on water and council tax bills, 2% on gas and electric bills and 3% on mobile, broadband and TV packages. Santander has also taken out the 123 credit card that allows you to get cash back on a range of things from your supermarket shop to your fuel. Using this in addition to TopCashBack and QuidCo could mean you could get a high cash back rate on your normal shop.
Potential savings: £100s a year

10) Avoid expensive nights out – Saying no once in a while and having a quiet night in instead can do wonders for your bank balance. You will save money on the expensive meals and the overly priced booze
Potential savings: £500 a year

 

 

If you need a little help keeping up with your expenses why not download an app on your smartphone to help you with it.

The best app to help you budget and keep track of your accounts is mint. The company’s iPhone app was named the Best Finance App by App Awards and included in Time Magazine’s 50 Best iPhone Apps of 2011. The app seamlessly lets you keep track of your finances and alerts you on high spending.

If you need an app to monitor bills, why not try manilla. The app holds information on all your bills and alerts you when they are due. (This link for android)

If you are interested in increasing savings, give SavedPlus a try. The app, which is free, helps users meet their financial savings goals by automatically transferring a set percentage of money over to savings when clients use their credit card or checking account. this method should hopefully help you save more in the long term.

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