How to save moneyh
As you can easily guess, more and more of us are wondering how to save money. We use well-known methods, such as changing the energy supplier to cheaper one or looking for a lower price on the Internet, but I would like to show other less known, but effective ideas to save cash. Of course, thanks to them, we will not be millionaires at once, but it is always “a penny saved is a penny earned…”
10 ways to save in UK:
On the market we can find hundreds of ISA accounts, all under different conditions, some of which offer easy access to your account so we can pick the money when we need it. Others, in turn, have fixed rates and are prohibited from choosing funds for a year or more. Some of them offer great deals for new savers, often with bonuses, but then they reduce interest rates. We should choose an account only if we are prepared to observe the level of interest and transfer funds at the right moment.
We can open one ISA account per fiscal year, but we can transfer funds between existing ISA accounts. It's worth checking out where are the best deals on ISA accounts, because they are not permanent and they change as banks want to attract new customers from time to time to make attractive offers.
Do not overpay for expensive 0870 calls
Mobile networks offer free minutes – but we still have to pay for some calls. Calling some numbers, operators charges a lot. There is an easy way to avoid costs – just download WeQ4U application on your mobile phone – simple, right? If you have not heard of it yet, please read the post We say no to 0870.
Free credit card
We want to buy something, but we do not have cash? Let's forget about expensive bank loans, with 0% we will lend money on purchases for 19 months without paying any interest. It will certainly help to your home budget! Here I recommend Tesco Clubcard Credit Card for purchases, but there are more similar cards on the market. It is worth remembering not to take money from the ATM, make a monthly minimum payment to your card account through direct debit and remember that after 19 months you will have to repay the debt.
Personally, I am opposed to credit cards but not everyone has the comfort that he is prepared for not planned expenses. To be able to build a buffer in the form of several thousand pounds you should first start saving. Even if we save £ 300 a month, we will have some money after 10 months, which will give us a sense of minimal financial stability.
Is there available free internet?
How to save money on the Internet? All of us has access to the Internet, but not all of us use the cheaper phone line. Therefore, some service providers will agree to reduce price of lower line rental rates if we pay for example in a year in advance. How much will we save? It depends on circumstances, but primarily it depends on the suppliers, eg in EE we save £ 57 each year. Another method is to change a supplier every year.
Thanks to the signed contract for 12 or 18 months, we always get a nice bonus from the supplier such as £ 100 or tablet, voucher or we should sign the agreement by the cashback type website or to personally agree with the supplier and fight for better contract terms. For example, I recently changed my EE provider to Sky via TotCashback, so I got a £ 73.5 return and a new Samsung Galaxy 4 tablet worth around £ 100.
So I can say that I will spend on the Internet around £ 42.5 for a year. The line rental is currently £ 18 and the internet for 12 months is free so I got a return in the amount of £ 173.5. It is easy to count that the monthly Internet will cost me only £ 3.54. Unfortunately I do not have internet connection without a telephone line. As the agreement ends, I’ll look for another attractive offer.
There are the attractive offers at TopCahback not including bonuses from suppliers:
- SKY refund between £ 36.75 and £ 152.25 depending on the package
- talk-talk returns from £ 15.75 to £ 115 depending on the package
- BT returns from £ 10.5 to £ 168 depending on the package
- Virgin returns £ 21 to £ 147 depending on the package
- Of course, there are more great offers, check on the cashback websites where are the best deals. Check out all the major sites and choose the best promotion.
We travel a lot, but we often complain about high prices hotel rooms. So we can rent a much cheaper room, apartment and even the whole house directly from the owner. It is simple, but very effective way – go to Airbnb* website, register and take advantage of some offer. If you prefer a hotel then necessarily read the post how to find cheap hotels in the UK.
Should I pay for a TV subscription
A TV subscription average costs about £ 145.50 per year. So we can see that the money from this spending could be rellocated on different types of investment funds. For some, payment for a subscription is a small fee, for others it costs much. There is a way to watch TV programs without paying TV license. If we watch a program that has already been broadcasted, we do not have to pay for it. So you can record and watch your favorite programs for free.
Banks pay for purchases by debit and credit card
Cashback? So here we can save some cash and here I mean cashback deals prepared by banks. Some of them offer really interesting suggestions. After logging in to the online system you should select the offer and then buy the product or service to make a payment with your bank card and so … After a few minutes, our account will return to 15% of the spent amount. Such an account is for example the Reward Current Account in Halifax and the service is called cashback extras
Choose wisely bank accounts
I think everyone of us has a bank account with a given amount of cash that we do not know what to do. They lie and because of inflation they gradually lose value. That is why it offers you such opportunities – the best deposits. You can put cash in there to just “grow”. Thanks to such methods our money can grow up to 5% a year and beat inflation. It concerns opening a few Classic Plus Accounts at TSB, and if we have a partner, then we can use £ 12,000 and earn £ 600 a year – to receive % you should make a monthly payment of £ 500 for each account. Our interest increases at once and we see immediate effects every month.
Spend your money rationally
Expenses for food can also be planned in advance, as well as dinners – so we should plan everything in order to have only the light and bulbs in the fridge before shopping.
- Plan your dinners for the whole week, without any accidental dishes from what's at hand,
- Cook as much as you eat so that you do not have any food waste,
- freeze bread and never throw away,
- If the vegetables start to rot, cut into cubes and freeze them to use later for soup.
Do you already know how to save money?
And finally, do not do much shopping for yourself, i.e. clothes or cosmetics, not just to save, but to buy them when the discounts appear. Then, we can buy these things for the pennies. We live in a world of consumerism and not everyone will be able to refuse it because it will be attacked and sneered as a scammer, miser, dusigur, greedy, etc. We are bombarded with commercials all the time.
The truth is not everyone can resist advertisements and he/she wants to show the new car or the latest clothes because there is a new collection in Primark even though his/her clothes are only 3 months old. Of course, if you have money deposited in your account to survive with the family the whole year when if something goes wrong, i.e. £ 20000- £ 25000, you are able to afford it, but if your account empty then unnecessary shopping is extremely irresponsible.
In the conclusion – I hope I managed to recall some points related to the subject – how to save money, but also to quote new ones. Lastly, I can say that saving is a really basic thing, especially when we work abroad …. it doesn’t matter whether you are in England, Germany or anywhere else. Of course you will find more interesting methods of saving. If you want to check other interesting methods for saving, then you have to look at other posts click link -> How to save money.
NOTE: I present private opinions and I am not responsible for the readers' decisions. I always try to present current information but may no longer be up to date. Therefore, before making a decision, please verify them and consult a licensed financial adviser.
Hey! My name is Radek and I work hard in England everyday and the thought that I will be able to retire after 68 years is not in my favor. That is why I will prove that it is possible at the age of 55 or maybe earlier. See on this blog how I want to achieve this.