Tips To Beat The Credit Crunch
by admin on 16/06/09 at 9:17 am
Credit crunch or not, it seems as though £100 just does not go as far as it did in recent times. We are all concerned about getting the most from our money. After all, enough sweat and tears has contributed to us earning it. So how can we make sure our money covers as much as we want? We’ll look at a few tips to help you.
Who Are These Tips For?
If you recognise that you spend more now for the same products each month then you will benefit from the tips that will follow. Whether you are a parent or a student, office worker or company director, sooner or later you may feel the crunch so we hope the following tips will be of use to you if or when that time comes.
Credit Crunch Tips
- Purchase in ‘goods in season’. Many supermarkets will offer sale on goods that are in season so this is one way to save money. If you are looking for goods that are not in season you will no doubt pay more.
- Save your food. You can do this by planning what you’ll eat for the week and shopping for these items only. This way you have less chance of wasting food
- Take your lunch to work. Many people underestimate how much this could save you. Depending on how much you spend on lunch, if you were to add up the cost over a year, you could probably have enough for a holiday for two.
- Buy in bulk. Non perishable items can go a long way and you will save money per item due to the bulk purchase.
- Can you give up your morning cappuccino? You could save a tidy sum by making your own coffee.
- Try canceling your cable subscription and opting for freeview for example.
- Look into the option of carpooling, cycling or taking the bus. While this option may not be adequate for everyone, if it is possible for you, it should be considered
- Holiday locally. There are many beautiful and affordable locations to take the family in Great Britain
- Insulate your home so you will not lose pennies due to heat escaping your property
- Invest in energy saving light bulbs to reduce your electricity costs
- If you have many credit cards, try to consolidate the debt or at least transfer to a low interest rate balance transfer card. This way most, if not all of your money, will go towards reducing your debt
- The final and most important step is to make a budget and stick to it. If you know how much is coming in and going out, you are more likely to keep in control of things.
Summary
We hope the above tips to beat the credit crunch will help you. Some of them will call for sacrifice, but hey, we can’t always have our cake and eat it too. For every pound you spend, that is one pound less to save so make sure you manage your finances wisely.
