5 Money Saving Tips…

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five_us_dollars_bills-otherAverage credit card debt owed by the average Briton is approximately 2k. Imagine how many monthly contributions that takes to pay off? We recommend you catch up on the plethora of New Year guides to saving money in 2014 that have been springing up during January to help you get on top of your debt and make your pennies stretch further.

Overhaul attitudes

A good place to start when thinking of saving money is to overhaul your attitude to money. Do you live ‘pay cheque to pay cheque’? If so, it may help for you to adopt a more organised and planned approach to the spending of any money. You may wish to be stricter with yourself about saving for the future, or merely getting into the habit of saving. Again a change of attitude towards savings can make you focus on the value of money and make you less likely to spend cash willy nilly.

Focus on energy

Energy is a hot topic this New Year, precisely because of the sheer amount of saving an average household can make if they focus on saving money on heating bills. A very clever, modern idea about saving cash on heating is to install a special reflective layer behind all your radiators. These reflect the heat back to the radiator and into your house, instead of allowing heat to be absorbed into walls. The result is less energy use and less money expended on household heating. There are lots of other ways to save energy while reaping the knock-on effects of saving money, for example switching off lights and appliances when they are not in use, getting leaks fixed and creating a budget around your energy consumption.

Phone bills

Phone bills are another big area where there is lots of scope to save cash. You should shop around for any mobile phone contract and think carefully when committing to any 18-month contract as within six months it may have become cheaper for you to go elsewhere. Check out mobi-data.co.uk for some of the best deals available in 2014 for data sim cards.

Household bills

Household bills mount up and up but clever ways to cut these are to reduce waste in the kitchen. Are you throwing away food regularly? Why don’t you try to avoid this by shopping for smaller amounts more often? Or shopping online?

Get your family on board

Whatever your approach to saving cash, it will really help to get your family on board. Sit down and have a chat about what you want to achieve and set targets for the whole family. You could even promise to spend a portion of any savings on a family treat like a holiday or a new, more energy efficient fridge! A group effort is certainly the best way forward as it can be frustrating when you see someone who leaves the tap on just as you were trying to reduce the water meter bill!

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