The recession has been tough on everybody’s finances. Living costs and unemployment are on the up, so money simply isn’t stretching as far as it used to. If you’re trying to stick to a tight budget, take note of these tips brought to you by moneysupermarket.com to help you tackle the credit crunch…

• Make lists when going shopping. Food shopping can be expensive, especially when you get tempted by all the lovely treats that supermarkets have around their stores. It may sound like a cliché, but make sure you’re not hungry before you shop – you’re more likely to stick something indulgent but not necessary into your basket. Then make a list of the essentials and stick to it. Where possible visit a shop which you are familiar with so you can head straight to where your essentials are and you won’t have to walk past those cakes and crisps to get to them!
• Save on utilities. Many people use more gas and electricity than you need to. Make sure you switch off and unplug everything you’re not using, and don’t leave lights on in unattended rooms. You can buy monitors which show you how much electricity, gas and water you’re using in real-time, meaning that you can make adjustments where necessary.
• Compare insurance premiums. Whether it is house insurance, car insurance or life insurance, you will be sure to save money if you compare policies from different providers first. Moneysupermarket.com compares hundreds of policies so you don’t have to do any of the work.
• Monitor your water usage. It’s very easy to use a lot more water than is necessary. Take a shower instead of a bath as this can reduce your water usage dramatically. Also only fill the kettle up with the required amount of water- this not only saves water but also electricity.
• Heating. The UK’s winters can get pretty chilly and it’s tempting to whack the heating on full blast. You can save a packet by simply turning down your heating by 1 degree- and you won’t feel much different. You should also invest in warm pyjamas and throws for when you’re snuggling up on the couch- it’s not only romantic but you’ll also save on your heating bills.
• Organise your direct debits. Where possible, arrange to have all of your direct debits taken out of your bank account around the date you get paid. This means that you can be sure that you have paid all of your bills and then whatever is left over is yours to spend. This will help to reduce any missed payments and should help you avoid overdraft charges.
• Sell things. Don’t just leave goods that you’ve acquired lying around the house. If you’re never going to use the foot spa your Grandma bought you for Christmas, sell it. The same goes for any items, whether it be juicers, smoothie makers, bread/ice cream makers, clothing, bags, dvd’s – the list is endless! You may make a few quid whilst de-cluttering your home.
• Use loyalty cards. If you go to the same sandwich shop everyday, or shop in the same supermarket frequently, take advantage of their loyalty schemes. You’d be spending the money regardless so you might as well get something free in return. Keep a space in your purse/wallet for loyalty cards and watch your points grow!

Digg

Stumble Upon

Del.icio.us

Buzz