Money saving extras
Money saving extras … Tough and confusing times for UK consumers just now. Interest rates may be falling but mortgage and loan rates are slow to follow them down (although the hefty prod given the banks by Chancellor Alastair Darling has been very welcome). Meanwhile, the banks have been indecent in their haste to cut the rates on savings accounts. The sight of the banks having their cake and eating it is galling for those of us who are relying on saving for our old age, or for those pensioners desperately trying to eke out their savings pot.
This is the horror scenario for many UK consumers. Your outgoings are stubbornly high (the declining cost of commodities shows no sign of filtering through to gas and electricity prices or the cost of groceries in the shops). You can’t raise your income (with recession biting over the next year or two, few of us will be in much of a position to ask for a pay rise). That leaves one avenue alone … looking for some money saving extras to make your weekly disposable go a day or two further. There are limits here - we can’t all live on grass and move to a cave, even if we wanted to, but here are ten quick tips to save cash.
Money saving extras top 5
- Move onto a cheaper gas or electricity tariff … it still won’t be cheap, but if you haven’t changed for a year or more, you won’t be getting the best deal.
- Check out cheaper mortgage deals. Again, the lenders aren’t exactly queuing up to lend just now, but if you are on your bank’s standard variable rate (SVR) you certainly AREN’T getting the best deal.
- Shop around. LIDL, Primark, Netto … all offer good, affordable alternatives to the upper scale high street. A family could save hundreds of pounds a year by moving downmarket - and downmarket doesn’t have to mean worse.
- Make do and mend. Don’t throw stuff away, fix it. And try swapping with friends and neighbours. Boot sales and jumble sales have never seemed such a good idea.
- Buy less. You don’t have to refloat the economy single handed. Question every purchase …. you’ll be surprised how little you need.
Tags: money saving, cost cutting, economising
Related: Moneysaving articles
