Are you fed up of hearing about all the doom and gloom of the Credit Crunch? If so, you have come to the right place. Starting today I am going to show you how you can fight back and take control of your finances in a way that our major financial institutions couldn?t do themselves. By following my tips and tricks of the trade you will be able to save as much as £5000.00 a year on your annual household budget. This is money that you and your family have worked hard for; money which could be helping you either reduce your debt burden, paying for a great family holiday or maybe even buying that new family car.
Make a shopping list Food shopping forms a significant part of our monthly outgoings and the supermarket is where the bulk of the money is spent. Supermarkets are very sophisticated when it comes to parting us from our hard earned cash, filled with what I like to call retail traps, brightly coloured signs pushing so called bargains, items placed by the tills waiting to grab your attention whilst queuing to pay. Before you leave the house make a list of all the items you need and stick to it, if it?s not on the list you don?t need it. On average we spend £95.00 a week on our shopping, making a list can save you as much as £650.00 a year!
Reduce your debts with your savings, Let?s say you have a credit card or store card with a balance of £1000.00 and a rate of 19%, that debt is costing you £190.00 a year. Now if you have £1000.00 is a savings account, at today?s rate you are likely to be earning 1.5%, that?s a piddling £15.00 a year! Use your savings to pay the card and save £175.00 a year. Don?t worry if your savings are a rainy day fund as you can always revert to the paid off plastic in a real emergency.
Turn that down and off. Did you know that by turning your thermostat down by one degree you can save 10% of your energy bill; that could be as much as £200.00 a year. Take things like your DVD player, PC and TV off stand by and you will save another £150.00 a year, it?s good for the planet and great for your pocket saving you at least £350.00 a year.
Drop down a brand and lift up the savings. You will be amazed how little difference there is in quality and taste, between big brand names and the much cheaper alternatives available in your local supermarket. Drop down a brand and you can save as much as £800.00 a year without losing any of the quality. (Put after shopping list?)
Switch your energy & phone supplier. Use one of the many price comparison sites out there to find the best deal for you, if you have never switched suppliers before you can save as much as £300.00 a year across your phone and energy supplier.
Ask yourself: do I really need this? Impulse buying is one of the biggest and yet unseen drains on your finances. Make yourself aware of the retail traps out there designed to separate you from your hard earned cash. Every year the average person will spend at least £500.00 on items they don?t need or even want.
Do you need all those TV channels? Britain is switching to digital-only television and time is running out for you to choose your new digital TV provider. The choice is already bewildering. Packages range from the full Monty including every sports and movie channel costing around £50 a month, down to Freeview, which is free. Choose wisely and save £250.00.
Quit smoking, Never mind the health implications, the guilt and the smell, your 20-a-day habit is costing you nearly £2,000 a year. Pack it in save £1800.00 a year and your life.
Shop online The internet is taking over and online shopping is getting better all the time and there are plenty of comparison websites to help find the best prices for bigger items such as TV?s etc. Give it a try, unless of course you like fighting your way through the crowds and traffic. Potential Saving £200.00
So far we have only touched on a small number of areas which will allow you to save thousands of pounds every year, with the money you can save by taking advantage of our tips you can avoid the negativity of the crunch without compromising your way of life. I want to hear about your experiences so let me know if you have any success stories involving money saving tips and I will share them with the whole of Manchester. Next month I will be bringing you some more great ways to save and even make money, good luck and if you want to share some ideas or have a question or problem surrounding the credit crunch contact me at www.SurvivingTheCreditCrunch.org.uk and I will be sure to get back to you.
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