Monitor your expenditure.
Keep track of your spending everyday by keeping all of your receipts. At the conclusion of each week total up what you’re spending and work out where you can cut back. Food is often a big expense. Popping to get lunch while in work every day, or a snack here and there quickly adds up in a month, I think you will be surprised how much you are spending on these snacks. Seeing it written down will encourage you to be more organised, taking lunch with you or avoiding that coffee shop fix will save you pounds in the long run.
Use the internet to search for any new items that you may need, particularly those expensive items. TV’s and other large electrical items are always on offer. It is worth doing a little bit of research to find these or search for a cheaper alternative. This also applies to searching for a new credit card or when searching for a home owner loan. Do your research, you could save hundreds of pounds in the long run.
Utilise the internet or phone apps
You can dodge hefty gym memberships by utilising you tube. There are hundreds of exercise routines that you can do from the comfort of your own home. Ranging from yoga to circuit training, whichever you prefer. There are also many free app’s providing you with personal training tips. Many gym memberships tie you in for at least a year and have large joining fees on top of this and then often with many people these end up being unused. People end up being tied into a year contract for something they aren’t even using.
It is important to plan your meals for the week. This may take a little bit of time but is worth it for the money you save. Decide your meals for the week and make a list of these then do your weekly food shop based upon this. This ensures you are buying only what you need at the supermarket and avoids those impulse buys that we are all guilty of. Make greater portions and freeze for quick meals on the weekend, we throw out about a fifth of all the food we buy every month so it is well worth the effort.
We are all guilty of buying things we don’t need and regretting it. Keep a folder of your receipts and return anything you don’t need. This is also important when it comes to the guarantees that come with larger items, make sure you keep records of your purchases in order to return any faulty items without any dispute.
Ceri Harris is an underwriter at Willows Finance a secured Loans Company based in Wales