Make a saving budget

With the food and petrol prices constantly rising in the face of the global financial crisis, cutting unnecessary spending and saving money is of ever increasing importance. By cutting out some luxuries from our lives we can avoid debt and save money.

When shopping, keep a look out for special offers, sometimes you can even pick up top branded products cheaply if they are on offer. Otherwise, try to buy supermarkets own brand products and stay away from brand names. Often, the quality of the product is the same for a cheaper price. Buying things in multipacks can also help to save money in the long run.

Shop around. Try shopping at a different supermarket and see if you’re shopping works out cheaper. This could be especially helpful if this supermarket is closer to home. Look out for petrol vouchers with your shopping and find out which supermarket offers the best loyalty card system.

Create a budget for the week, month or even a year. Sit down and work out all your incomes and expenditures, this way you know how much you have to spend on yourself over a given period. If you have cash left over try and save it. This could be by having one less drink on a night out or not having a weekly takeaway, over the year this will add up to a big saving. Some financial advisers will help you budget free of charge so it’s worth arranging a meeting with one to see what advice they can offer you on saving money.

Around the house this winter, layer up rather than turning the heating up! Heating bills are ever increasing due to rising gas and oil prices so by wearing extra clothing you can save money on your heating bill. The same can be said for your water bill, take showers rather than baths and avoid using the dishwasher where possible. As for electricity, turn off lights when they are not being used and try to avoid leaving electrical appliances on standby.

The cost of petrol has risen massively and even a short journey now costs a substantial amount in petrol costs. Avoid driving when you can, walk or take a bike. Not only will this save you money but it’s great for your fitness! You may also want to find out how to drive more efficiently, i.e how to use less petrol. Guides as to how to do this can be found online.

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