| 50 ideas to save money and potentially avoid debt problems - Part 2 |
 21. Walk or cycle to workYou can improve your health and your finances by walking or cycling to work. Not only will you get fitter, but you won´t have to spend your hard earned cash on bus fares or petrol. 22. Get off the bus before your normal stop If you work quite a long way from home, get off the bus or train one stop earlier than usual. You can get some exercise and also save money at the same time. 23. Stop throwing your money away on the national lottery Clever advertising gimmicks and promotional giveaways tempt millions of people into spending money on the national lottery every week in the UK. The odds of winning the national lottery jackpot are stacked at 14 to 1 against each ticket. Save the money you would spend in a pot and you will be surprised how much have been throwing away. 24. Buy one get one free Some offers and deals in supermarkets are genuine but shop with caution. Buy one, get one free offers are in place to get you to buy something you wouldn´t normally look at. So again, do the ´do I really need it´ test before buying. 25. Shop in the sales Hundreds of people have debt problems in the UK because they overspend on items they don´t need. Another way to reduce your outgoings is shop in the sales. Where possible, buy birthday and Christmas presents throughout the year in the sales. You can save hundreds of pounds by shopping this way. 26. Use the local library If you enjoy reading, or if you want to use the internet and don´t have a PC at home, use your local library. You can take books out and use the internet in many libraries free of charge, and you can even scour the ´situations vacant´ column of the local paper. 27. Christmas presents Christmas should be a time of joy and happiness, but for some families it becomes a nightmare. If you are already struggling to pay debts, or you are on a debt management plan, buying gifts for the whole family is not an option. Get everyone together before Christmas and ask each person to draw a name from the hat. Whoever you pick, you buy for. This way everyone gets a gift, but you will only be expected to buy for one person. 28. Claim benefits and tax credits Thousands of people in the UK don´t claim the benefits and tax credits they are entitled to. Make sure you are receiving child benefit, working tax credits or any other benefits you may be entitled to. Check with your local job centre or benefits office what you may be able to claim. 29. Avoid monthly insurance payments If you pay your insurance in monthly instalments, you could be charged up to 20% more for the pleasure. If you are in a position to pay the insurance for home or car each year, then do so. It is false economy to pay in monthly instalments and you will find yourself out of pocket at the end of the year. If you are suffering debt problems and feel there is no way out, you can contact debts.org for free advice and guidance about a debt management plan. 30. Do you need the whole TV Package? If you are suffering debt problems or perhaps you are considering a debt management plan, cut down on the number of TV channels you pay for. You could be paying over £50 per month for movies, cartoons, sport and history channels that you never look at. Change to free view which is exactly that – free to view. 31. Solve some debt problems by cashing in your ISA allowances You can save up to £3,000 a year in a tax-free savings account called an ISA. With an ISA, you don´t pay any tax on interest accrued, which makes a big difference to savings. 32. Online shopping can be cheaper Shopping online can work out a lot cheaper than on the high street. Shop around, particularly on sites such as e-bay, and you will find some real bargains. Online grocery shopping is also improving, and you can get food delivered to your door from all of the major supermarkets. This could also save on parking fees and petrol if you live a long way from the shops. 33. Get rid of the ready meals Convenience foods are exactly that. Convenient to throw in the microwave, but usually unhealthy and expensive. Buy some good, fresh ingredients from the market or the green grocer, and if you´re not quite Delia Smith, borrow a book from the library and you will be surprised how delicious a home-cooked meal tastes. 34. No need for extended warranties Extended warranties are often a waste of time. How many times has your fridge broken down in the past 5 years for example? Or your washing machine? Save money by not taking out extended warranties when you buy new kitchen equipment or electrical goods. 35. Money-saving hobbies You can take up a money-saving hobby which is also good for you. Swap the pub for a long walk in the countryside, or a day´s fishing by the river. Healthy and money-saving hobbies usually go hand in hand, and you will be surprised how much you can save by cutting down on the pub hours. 36. Payment protection or over-priced hype? Payment protection plans are often mis-sold. Banks and building societies have been guilty of putting pressure on customers to take out payment protection plans when taking loans or mortgages. By all means listen to what they have to say, but don´t fall for the hard-sell and weigh up your options before putting pen to paper. 37. Car share to get to work If you live close to another work colleague, share the journey to work and cut down on petrol. One of you could drive one week and the other one the next. You could also save on parking fees by sharing a car to work. 38. Magazines and Newspapers You can now read most magazines and newspapers online, at no cost at all. If you don´t have a PC at home, take a trip to the local library where you can normally use the internet for free. The cost of magazines and newspapers adds up over a year, and this could be money spent to reduce your debt problems. 39. Citizen´s Advice Bureau Every major town or city has a Citizen´s Advice Bureau. If you are worried about money, bills, debt problems, bailiffs or you simply want to chat about a legal issue, Citizen´s Advice Bureau gives free, confidential advice. Debts.org can also give free advice about debt management plans, IVAs and bankruptcy and we can speak to your creditors on your behalf to arrange a debt solution for you. 40. DIY to save money You may have never considered DIY, and always preferred to get ´a man in´ for those fiddly jobs in the home. Most DIY jobs are manageable without any particular training, and you can get manuals and self-help guides from most of the large DIY stores. Try it – you could save hundreds of pounds in the long run by attempting even the smallest jobs in the house. You can even take a part-time course at college if you really want to learn the ins and outs of DIY at home. 41. Cheap household insurance Shop around for cheap household and car insurance. You don´t have to have house insurance but can you afford not to? If your house burns down, or even if it is ruined by a flood from the apartment above, you could find yourself out on the street with nowhere to go. You can now go to several insurance comparison sites on the internet to find the cheapest deals available. Car insurance is also now widely competitive, and there is no reason to automatically renew your policy year after year without shopping around first. 42. Shop around for travel insurance If you pay for travel insurance annually, but don´t have a holiday booked, don´t automatically renew the policy. Re-start the policy when you book a holiday if you are not sure you will use it this year. Staysure.co.uk is the leading travel insurance company for the over-50´s, and they can give you help and advice with arranging your holiday travel insurance. 43. Cheap breakdown insurance The large breakdown firms such as the AA and the RAC advertise widely, but shop around before taking out breakdown cover, as you can find cheaper companies who also offer an excellent service. If you break down, you need to know you will receive swift attention, so always read the small print before you sign. 44. Don´t pay over the odds for life insurance The cost of life insurance is getting cheaper all the time, as people are living longer. If you took out a policy years ago, check how much you are paying, as you could now be paying over the odds. You can also check out different insurance policies on internet comparison sites. 45. Book early and pay less If you are planning to travel this year, book early with a low-cost airline. If you are not fussy about where you travel in Europe, you will find plenty of deals and offers available from Easyjet, Ryanair and a host of other budget airlines. Some deals start from just 99p, but you need to take into account the taxes and fuel surcharges. 46. Book your holiday car hire on line If you want to ´get away from it all´ but have to keep to a strict budget, take your time to look around the internet for the best holiday offers. You can make your own package tour up by booking your flights, hotel or apartment accommodation and even airport transfers in advance of travel. By booking hotel accommodation online you can get up to 70% off the normal price. 47. No means NO It´s easy to give in to your children when they are whingeing their way round the supermarket, but make sure no means no. Also, be strict with yourself if you go out for a drink after work. One invariably leads to two which leads to three. Don´t feel guilty about not going out if you can´t afford it – stick to your guns and you will be healthier and wealthier by the end of the month. 48. Cheap cinema tickets Call your local cinema and see when they are selling cut-price tickets. Many cinemas sell family tickets, which allow you and the children entrance to the cinema at certain times and for certain films. 49. Picnics not burgers If your children are off school for another interminably long summer holiday, take them for picnics in the country rather than burgers and chips. You will enjoy your day a lot more, and it will be easier on the pocket. 50. Free days out There are plenty of places to go with the family that will cost you nothing. Check your local newspapers to see what´s on in your local area, and you will be surprised how many events are free. Concerts, museums, sports events and even open-air theatre is free of charge in many towns in the UK, and summer events are particularly popular. |
£1,431.76 from Citi Financial