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Budgeting – A guest post

July 15, 2011

I don’t know about you but in the current economic climate we’re looking at every part of our lives to see where we can save a few pennies here and make a few more pennies there. It’s not easy and we are definitely feeling the pinch. So I was offered a guest post  on budgeting I jumped at the chance. Any ideas on how to save money are greatly appreciated!

Helpful money-saving tips

 When you decide to have children, your bank balance suffers! There are millions of people in the UKwho don’t have much spare cash at the moment and many parents have to tighten their purse-strings. Thankfully there are loads of ways to make your money stretch further!

 Managing your money is a personal thing, but there are some practical things that anyone could do. It helps if at the start of the month you have a clear idea of exactly how much you have available to spend after you have paid for all the important things – like your mortgage or rent, your fuel and water rates, your Council Tax, etc.

 Once you know exactly how much money you really have available to spend, it’s far easier to plan your budget until the next payday! One way to do this is to arrange for all Direct Debits and standing orders to leave your account the day after you get paid – or you could look at an alternative approach – a managed account – that can take care of that for you. 

 Utility bills could be cut if you find a ‘dual fuel’ discount. British Gas offers up to £15 annual bill reduction for dual fuel customers. If you pay your bills by Direct Debit you could also save money – Npower offers up to £100 discount for Direct Debit payments. These are just two examples – you could find a better deal, either on a comparison site like http://www.uswitch.co.uk, or by contacting providers / checking out their websites yourself.

 Shopping is expensive at the moment but there are a few tried-and-tested tricks that could save you money. Firstly, shop around for the best deals – cleaning products can be more expensive in supermarkets than in home-ware stores, for example.

 Signing up for loyalty cards at places like supermarkets or chemists can mean you’ll get money off even when you’re buying the basics like bread and nappies. Two final tips are to avoid expensive brands – and stick to your shopping-list even when you’re tempted to make an impulse purchase!

 I can definitely vouch for that last point. When I make a shopping list (especially when I link it to a meal  plan) I save a fortune! I’m terrible for picking up a few bits & bobs at the supermarket – a t shirt for Sam here, fajita mix and some chorizo there. Before I know it our shopping bill in hitting £100 and I hardly have anything for tea!

Hope those tips helped!

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2 Comments leave one →
  1. MEB permalink
    July 16, 2011 3:05 am

    Where exactly does Dorothy Perkins fit into this new budget scheme??

  2. July 20, 2011 7:22 am

    Another tip – if you take gas and electricity on an on-line tariff, you can save even more! This is because printing and posting bills costs the utility companies quite a lot. You can view/download your last bill any time. Make your broadband work for you!

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