Money Saving Tips from Your Debt Expert

| February 19, 2013 | 0 Comments

money saving tip

The sheer excitement that surrounds the start of spring makes it quite easy to get carried away and spend more than you really should. However, for any of you wise consumers that are willing to take heed of the warnings of over-indulgence, here are some money saving tips from the people at the Your Debt Expert debt advice service that could get you on your way to a stress-free spring:

Credit:

  • Be realistic about what you can afford. The worst way to tackle you any shopping trip is to not think about the money and put everything onto your credit card.
  • If you can afford to pay for goods outright don’t use your credit card unless it really does work out cheaper; for example a cash back credit card or 0% interest card.
  • Try to only use one card so you can keep track of your spending.
  • Budget properly and try not to over spend so much that you won’t be able to make your next repayment.
  • Be wary of “buy now, pay later” offers, make sure you’ll be able afford the payments when the bill finally arrives – a year’s free credit on a new sofa may sound great, but if you can’t afford it now, how will you be able to afford it in 12 months time?

Food:

  • The average British family throws out a fifth of the food they buy. Think before shopping or you could end up throwing away up to ฃ420 per year of unused food.
  • Make use of your leftovers; a big Sunday dinner is great, but if you can make Monday’s tea out of it as well, even better!
  • Think about the food, not the brand. Remember it’s not the food you’re paying for when it comes to big brand names, it’s the company’s advertising!
  • If you have a big birthday or celebration coming up why not have friends and family round instead of going out for an expensive dinner? Even better, turn it into a buffet party and get everyone to bring a dish along with them.

General Tips:

  • Budget! The best advice for helping your finances is to be prepared. If you know how much you need, you’ll be less likely to blow your budget.
  • Make use of all the loyalty points you collect. The UK has more than ฃ4bn worth of unused points and vouchers, if you’re not saving them up for something fine, but if not why don’t you use them when you get closer to pay day and the money’s running out.

Remember, if you overspent at Christmas and are now seriously struggling to make ends meet, you may need some professional help. Here at Your Debt Expert we have a team of experienced money advisors and financial insolvency practitioners that can help you through a difficult time with your finances. With a free no obligation advice service all you have to do is lift the phone. Remember, you’re not in this alone.

You can find more about Peter Dean on Twitter @peterdean_debt

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Category: Personal Finance

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