• 19Nov

    Extreme money-saving tips

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    When 28-year-old Annie Stevenson spotted a pricing error on boxes of Pampers Active Fit nappies at Tesco, she didn’t hesitate in stocking up and taking advantage of the glitch.

    The superstore had a promotion on the nappies, offering two boxes for £22, but a glitch in its computer system meant that Annie could bag two boxes for just £12.

    As soon as she realised what a fantastic deal it was, penny-wise Annie filled her garage with two years’ worth of nappies.

    “My son was only a few weeks old, so it was perfect timing. I saw the glitch on a money saving forum and knew that I had to rush out to my local Tesco and clear the shelf. I then sent my husband to another store and he filled up his trolley too,” she said.

    Extreme coupon hoarding

    Cut any useful vouchers and coupons out of newspapers and magazines, and keep an eye out for top picks on voucher code websites.

    Once you’ve invested in some cheap voucher folders you can then organise coupons into folders, categorising them using dividers, colour coding and sticky notes.

    This may seem slightly excessive, but it will save you time at the tills as you won’t be frantically sorting through hundreds of vouchers stashed away willy-nilly in your purse – and you will find yourself making more and more savings every day.

    Get in touch with companies

    Most people only get in touch with firms when they have a complaint to make – but why not go the other way and get in contact to pay them a compliment?

    If you particularly like a product, why not write the company that manufactures it an email, or even a handwritten letter? Brand loyalty being of the utmost importance, companies may well write back, tucking a surprise (and very welcome) voucher within the folds of the letter.

    “I wrote to Gillete telling them that my husband was a fan of their products and I got sent a voucher for £15 off,” says Annie – proving the success of this innovative money-saving technique.

    If budgeting has not helped your financial situation and you are teetering on the verge of a financial emergency, payday advances could help so long as you are sure you can repay them quickly.

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  • 25Sep

    Pushed for time? How to beat the clock and reduce your monthly bills in record time

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    Research by the Santander 123 account has revealed that 14 million Brits collectively borrow £3.6 billion a month in order to pay for basic household bills.

    Some 17% of people opt for overdrafts, while 15% choose credit cards to find additional funds. Over one million people collectively borrow £2 billion annually from payday lenders.

    However, despite all this borrowing, only 32% of Brits regularly shop around for better deals on services such as utilities or telecoms providers.

    Reza Attar-Zadeh, banking director at Santander, said: “The fact that only a third of people are regularly looking for ways to reduce their monthly bills is worrying, as there are a number of opportunities to bring these costs down that require very little effort or change.”

    How can you easily reduce your monthly bills?

    • Pay by direct debit. You should be able to set up a direct debit account with most providers, who will provide you with discounts for doing so
    • Compare the market. Spending half an hour a week checking out offerings from providers other than your own could save you hundreds
    • If you have an internet, phone and cable service, moving all of your accounts to one provider could save you cash
    • Get involved in the ‘voucher culture’: it could chop hundreds off your grocery bills over the year
    • Move to a fixed-price energy plan with no exit penalty fees. These are running out fast, so don’t hang around too long
    • Unmetered bills take the property’s size into account, so if you have more bedrooms than people in the house you could save money by installing a water meter

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  • 03Sep

    How to keep your energy bill low amid rising costs

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    Following the news that energy company E.on is failing to pass on the full benefit of drops in wholesale prices comes the revelation that the high prices crippling its customers have seen its profit margins soar by almost a quarter.

    The German firm experienced a sharp increase in its profits in the first half of the year by charging its four million UK customers on average £200 more for their annual dual fuel bill than they did in January last year.

    The average yearly dual fuel bill now clocks in at £1,261, 55% higher than the £813 customers paid in early 2008.

    Reading through the following tips could help you to reduce your energy bill:

    • Unplug appliances you rarely use, such as spare refrigerators. Likewise, keep chargers for things like phones and cameras unplugged until you need them.
    • Use power strips to fully switch off TVs and stereos when not in use. Even when you think these are off, their combined ‘standby’ consumption can equal that of a 75-100 watt light bulb running continuously.
    • Make sure you have enabled the ‘sleep’ mode on your laptop or computer. This means that less power is consumed during periods of inactivity.
    • Similarly, the ‘hibernate’ mode turns the computer off automatically after a certain time period of inactivity. Not only does this save energy, it also turns the computer off in such a way that you don’t have to reload everything when you switch it back on.
    • Turn your thermostat down by a couple of degrees this winter. A small change can make a huge difference to your energy bill each year.
    • Keeping blinds and curtains open on a sunny day, rather than relying on central heating, can save cash. Likewise, closing them at night can help to conserve natural warmth.

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  • 01Aug

    How to save money on car maintenance

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    According to a new study, in the last five years the number of people paying garages for basic vehicle maintenance has risen from 10% to 17%. The financial crisis is squeezing many British motorists, but how can you avoid large garage bills for simple maintenance tasks? 

    Data from the study published by Saga revealed that only 8% of Brits who own a car which is less than a year old feel confident enough to repair or perform maintenance task themselves. In contrast, the percentage among those with a vehicle that is more than a decade old stands at 15%.

    Although vehicles are becoming more complex with the arrival of electronic systems, there are a number of considerations you should keep in mind if you want to reduce your car maintenance costs:

    Prevention is key 

    Making sure that your vehicle has everything it needs to work at its optimal potential is essential to avoid problems in the future. Therefore, always make sure that your car has the right levels of oil, antifreeze and water, and find out where the different motoring systems are located under the car’s bonnet. This will help you to monitor the basics and ensure you are not surprised by unexpected problems.

    Learn the essential car maintenance check-list

    Every driver should be aware of the need for things such as changing the LED lights, the battery, oil filter or simply replacing the cam belt. Being able to carry out such a car maintenance checklist by yourself could save you considerable money on garage bills in the long term.

    Take care of your machine

    The better care you take of your vehicle, the longer it will last. This means that keeping in mind things such as not putting your engine under too much pressure by speeding, or avoiding the process of exposing the engine to adverse weather conditions will always help to extend the life of your vehicle.

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  • 17Apr

    Financial year clean-up – top tips

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    As the new financial year started last 6 April, many Brits took the opportunity to write down all their ‘financial resolutions’ for the upcoming year. In fact, now is the perfect time to start planning your finances and budget as accurately as possible.

    “The new tax year is the perfect time to spring clean your finances and get your affairs in order.  Review your financial goals and ask yourself whether you are on track in achieving these,” said Karen Barrett, Chief Executive at unbiased.co.uk.

    Unbiased.co.uk asked a number of leading financial experts what their advice would be when it comes to putting personal finances under control.

    • Christopher Wicks (Bridgewater Financial Services) advised Brits to consider ways of protecting their personal allowance, stressing that it is not necessary to leave things until they get to the end of the tax year. “Pension contributions, despite concerns over annuity rates, are a very good way of protecting the personal allowance because they have the effect of reducing income for tax purposes,” he said.
    • Jason Witcombe (Evolve) argued that consumers should be making the most of tax breaks. He reminded them that for those under 65 the 20% income tax starts at £8,105, 40% tax starts at £42,475, there is an effective 60% tax rate for income between £100,000 and £116,210 and then 50% tax starts at £150,000. “Planning around these thresholds can make your money work much harder for you,” he stated.
    • Danny Cox (Hargreaves Lansdown) recommended that Brits use their ISA allowance early in the tax year, so they can benefit from up to 12 months more tax-free growth and tax efficient income.
    • Jon Hill (Milford & Dormer Solicitors) pointed out the importance of thinking about financial protection and insurance regarding life, health, and earnings. He added : “Who will pay your mortgage if you are off work?  Plan ahead and don’t rely on future increases in property prices to repay your mortgage and provide funds for retirement.”

    It’s difficult to plan for everything. If you have an emergency that needs dealing with before you get paid, you may be able to find help with payday loans.

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  • 13Apr

    How to cut down your car insurance costs

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    Together with fuel prices rises, rising car insurance costs are among the top reason why the finances of many British drivers have been squeezed. Young motorists are also subjected to the most sky-high insurance policies; but bringing your motoring costs down is possible if you know how.

    Secure your car

    The more security devices your vehicle has, the less your insurance is likely to cost. Make sure your car has an alarm and an immobiliser, insurers like vehicles that are not likely to be stolen.

    Contract your policy online

    These days, many companies are offering many benefits to customers who decide to buy their services online. That makes the work easier for the insurer, and could work out much cheaper for you too.

    How are you paying your insurance?

    As well as bringing your insurance costs down by buying your policy online, certain payment methods might come with a discount too. For instance, customers paying per month instead of per year might end up paying an additional APR for the same policy.

    Stick to a small engine

    Bear this in mind; cars with powerful engine are more expensive to insure. The more capable your engine is of achieving high speeds, the more probable it is for that vehicle to have an accident – at least in the eyes of an car insurance company. Therefore, stick to an average engine if you want to keep your car costs down.

    No extras

    Fitting extra features to your car, such as big spoilers, wide tyres, alloy rims or a turbo-charged engine will do nothing but increase your car insurance premium. Therefore, think twice if you want to modify your vehicle.

    Accurate mileage

    The number of miles you drive every year or, in other words, the amount of time you use your car, is a key concern for insurers. If you hardly take to the road with your car, make sure your motor insurance provider is aware of this – otherwise, you might end up overpaying for your premiums.

    Insurance is important, because otherwise you may find yourself needing to rely on pay day loans to sort out replacing the car in an emergency.

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  • 19Mar

    Money-saving tips for the arrival of a new baby

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    According to new research by Money Advice Service, 61% of parents in the UK spend £1,000 more than initially expected when a new born baby arrives. A shocking 22% of them, however, spend between £1,000 and £5,000 in unexpected extra costs.

    Putting your finances under control is essential when you get a new addition to your family. The following tips could help you to save money and help you avoid overspending on your new baby.

    Baby Costs Calculator

    Aiming to help UK parents get a clear idea of the costs involved when having a baby, the Money Advice Service has launched the Baby Costs Calculator. “As well as advice on essential costs, our simple new tool contains a range of other useful resources to help parents make the most of their money during this exciting but sometimes stressful time in their lives,” said Sarah Smith, consumer expert at the Money Advice Service. 

    Nappies 

    Parents will need to spend money on this for at least two years, so saving money on these items is essential. Take advantage of your baby shower by asking all the attendees to bring baby nappies with them, which will provide you with a great store that could last for some months. 

    Buying nappies in bulk is another way of saving money, while using cloth nappies instead of disposable nappies whenever possible, will also keep spending in this area to a minimum. 

    Recycle and reuse baby equipment 

    Babies grow very quickly. This means that what you buy today will be out of use in five months time. Therefore, reuse items from other mums or buy second hand articles such as a pram or a crib. This way you will get items that are “brand-new” for a fraction of the price.

    Avoid expensive brands 

    Buying expensive brands for a baby only leads to unnecessary spending. Buying expensive baby clothes, for instance, will end up being a waste because your child will be only able to wear them for a few months. Purchasing an outfit which is slightly above your baby’s growth stage, will mean that it will last for longer. 

    If you need further financial help for the arrival of your baby, a same day payday loan could help. 

    Related articles: Tips for saving money when bringing up children.

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  • 15Mar

    How to purchase cheaper car insurance?

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    With the motor insurance prices currently sky-high, many British drivers who own a vehicle are looking for ways to reduce their premiums. Here just some of the ways you can lower your premiums:

    Go for a car with a small engine

    One of the main factors affecting the cost of car insurance is the type of engine the vehicle has. In general terms, the more powerful and bigger a car engine is, the more expensive the insurance will be.

    Have you considered fitting a ‘black box’?

    A number of car insurers are offering clients the possibility of installing a ‘black box’ in their vehicle in order to reduce the policy price if their driving habits follow the insurer’s demands. The ‘black box’ monitors the motorists’ driving and gives price rewards to those considered good drivers.

    Secure your vehicle

    The more secure a vehicle is, the less at risk it will be of being stolen. This is why installing approved alarms and immobilisers will help to reduce the price of your car insurance.

    Paying excess

    A number of drivers opt to pay more excess in case of accident as a way of bringing their policy costs down. While this might work sometimes, many drivers see themselves struggling when a large excess bill comes up.

    Update your mileage

    The miles you drive also has an impact on the price you will pay for insurance. In this sense, the more miles you drive, the more expensive your policy will be. Therefore, make sure you let your insurer know your current mileage all times, especially if you are driving less than the figure stated in your policy.

    More than one driver

    Vehicles that are driven by more than one person can be insured at cheaper premiums. Younger drivers could get cheaper quotes by adding a partner or a parent to their motor insurance policy.

    No extras

    If you don’t want to pay too much for car insurance, ensure you opt for the basic policy and minimise the number of extras. Adding a courtesy car or legal expenses will increase the price of your premium.

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  • 31Jan

    Ideas to reduce your fuel consumption

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    Petrol prices have almost doubled in only 11 years and the current costs are set to rise further. Paying less for petrol might be unavoidable, but spending less on fuel is perfectly achievable.

    A new survey published by Hastings Direct has found that one in three UK motorists have considered switching to a Hybrid or Electric as their next vehicle and one in five have even thought about simply not having a car anymore if petrol prices hit £2 per litre.

    Many Brits are using their car less and less, but if there are situations in which you have to use the car, there are ways to reduce your fuel consumption;

    Keep going – It takes much more fuel to get a vehicle moving initially than it does to keep it moving. Therefore, in certain situations such as traffic jams, try to move at a slow pace rather than speeding up and stopping again after a few metres.

    Air conditioner savvy – Using your A/C at lower speeds will make you increase your petrol consumption, whereas using it at higher speeds will actually be more energy efficient considering the wind resistance from open windows at fast speed. Next time you want to cool your car down, think about whether it is better to open the windows or turn the A/C on. It all depends on the speed…

    Tyre pressure – Again, your car conditions affect your fuel consumption. For instance, under-inflated tyres have more rolling resistance, and this means that the engine will need to burn more gas to keep the car moving. Buy a reliable tyre gauge and check your tyres once a month.

    Speed down – The faster you drive, the more fuel is burned. By decreasing your speed you will realise how your fuel economy increases exponentially.

    Dirty air filter – When your air filter is not clean enough, it may affect your overall car performance, increasing the fuel consumption. To check whether it is dirty, take it and hold it up to the sun. When you can’t see the sunlight coming through, it means it is time to change it.

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  • 28Dec

    How to make 2012 more financially profitable

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    With the dawn of the New Year on the horizon, thinking of ways to improve finances in 2012 is likely to be at the forefront of everyone’s minds. So how can you get the New Year off to a profitable start?

    • Spend less from the beginning. With January sales already underway, parting with your cash can become a habit all too quickly. Make sure you keep your finances in mind at all times and set a clear spending budget to stick to for the rest of the year.

    • Make the most of your money and invest wisely. Make sure that your current bank account is offering you the best return on your savings and consider opening an ISA or other form of savings account to boost your investments.

    • Earn more to help keep your finances on top form. Whether you take an additional job or simply take overtime at your existing job, make a concentrated effort to boost your income to make things easier.

    • Get rid of excess baggage and sell unwanted items. Whether these are unwelcome Christmas presents or simply old possessions they could give you a much needed cash injection at the beginning of the year.

    • Take the time to review your finances and look for way to save money. This means comparing all of your current expenses – from car insurance to food shopping bills and searching for the best deals.

    • Set a clear plan for the rest of the year to help you manage your debt. Make sure you consider all of the potential expenses you will have over the coming months, including birthday and holiday expenses as well as any debt repayments. Set a clear schedule for repayments and set yourself a goal to achieve by the end of the year to keep you on track.

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