Take Control Of Your Personal Finances saving money tips

Help Take Control of your Personal Finances with Money Saving Tips

In the last blog post we looked at how you can take control of your personal finances by way of using a budget planner. The idea being that once you fully understand where your money is being apportioned, you have to ability to make more informed decisions about how to manage your personal finances.

In this post we continue to investigate how you can take more control of your personal finances by looking at ways of saving money that perhaps you hadn’t considered before.

Even if you are only able to try some of these, you will be a step closer to taking control of your financial wellbeing.

Switch Utilities Supplier

If you have been with a gas or electric supplier for a few years then you may find that your bills have gone up and only ever look like they are going to increase. If this is the case, then it may be worth having a look at some of the comparison websites to see if you could find a better deal.

Switch Insurance Providers

Whilst you are logged on and looking for cheaper utilities suppliers on the comparison websites you could also have a look at the insurance sections. You could end up making a small monthly saving that adds up to a reasonable amount of money after a year.

Transfer the Balance of Credit Cards

If you have a credit card and it has an outstanding balance, it might be worth having a look for the latest offers such as 0% interest on balance transfers. There is usually a one off fee to make the transfer but it will be far cheaper than paying the interest on the existing card month after month.

Compare Supermarket Prices

Without wanting to beat the comparison site drum too much, you can also compare grocery prices online. If you are prepared to take a few more minutes than usual then you could try websites such as www.mysupermarket.co.uk, where you can compare like for like goods and find the one that has the cheapest for your shopping list.

Buy Supermarket Own Brand Products

If you take a good look around the major supermarket chains you will hard pushed to miss the own brand products that each supermarket is producing to compete with name brand products. In some cases the own brand products do not entirely match the original in terms of quality, but overall they are a cost effective way of continuing to enjoy the foods you like without having to break the bank to do so. Even if you swap two or three items per shop you could be making a noticeable saving.

Buy Food or Products in Bulk

If there is a particular food or product that you or your family use on a regular basis then you could look around for the supermarket or shop that has it on offer and buy it in bulk (if the sell by date allows). In some cases specific shops have a great range of low cost products such as Wilko for toiletries or Robert Dyas for electrical goods.

Try the Local Markets for Cheap Local Produce

Many of the towns in rural areas still hold weekly markets where local food grocers, farmers and butchers come and sell their produce. You really could find yourself getting some great deals on fresh and healthy foods. Not only will you be benefitting you and your family because of the healthy vitamin filled vegetables you can find, but you will also be supporting your local economy.

Prepare your Own Lunches

Many of us head off to work each day with the express intent of popping out at lunch time to the nearest supermarket or sandwich shop to spend between £2.50 and £5. That adds up to £25 per week or £100 per month purely on lunch alone! With a budget of £10 to £15 per week you could easily prepare some delicious lunch time meals whilst making a reasonable saving.

Try Discount Supermarkets

You will have undoubtedly noticed the rise of the discount supermarket such as Lidl or Aldi, and the reason is that their reputations have improved. They are now sourcing and stocking some great quality items for far less than many of the main supermarket chains. You will be hard pushed to see a brand you recognise, but the quality is clear to see (or taste).

Use Coupons

It may sound a little bit like the days of rationing but coupons really can save you a decent amount on the cost of the weekly or monthly shop. Many of the supermarkets have loyalty schemes whereby you can register on the website and they will send you saving coupons towards the costs of products that you may use. Not only that, but they will often offer you double or triple points that are added to your loyalty account which can be redeemed at a later date.

The biggest money saving advice anyone can give you is to really question whether you need to buy thing you are considering.

All of the above tips can go a long way to helping you save money over the course of a year. However they are not going to help when you find yourself facing a larger financial situation. This is where a personal loan can be an option, providing you with the funds to pay for a large car repair bill or even a replacement car for example.

George Banco is a direct lender providing personal loans between £1,000 and £7,500 to those who have a less than perfect credit history. Our unique online application process is quick, easy and the initial checks do not affect your credit history. So if you are determined to take control of your personal finances and need a larger amount than your savings can handle then click the ‘Get Started‘ button to see if you are eligible. Alternatively you can call one of our team on 01225 941941.

Check back for future blog posts about more money saving tips or personal loan information.