Saving money is always important, and always difficult. But this is doubly true in a credit crunch where every penny matters. Which is why finding ways to save money in a credit crunch is so essential. Luckily for you we have put together this easy to follow list of tips and suggestions on how to save money in a credit crunch.
Money Saving Tips
- Start Bringing Lunch to Work
Amazingly, even in a recession, many people consider buying lunch simply part of their bills. But by making lunch at home and bringing it to work you will be able to save up to 80% of you usual lunch bills, and as bonus you will have a wider choice of what to make as well.
- Cut Back on Your Starbucks
Much like lunch costs many people consider buying their daily caffeine hit from Starbucks (or any other coffee shop) to be part of their normal working day and a simple bill. After all it is only £2 right? Well £2 a day, 5 days a week across a 50 week year costs £500 – since you can easily make coffee from the kettle in most work places that is £500 a year you could be saving.
- Clear Your Debts
This sounds odd when you are talking about saving money, but spending money to clear debts will save you considerable amounts of money. Interest charges on loans, credit cards, store cards and the like add up and cost you a lot of money every year. By paying them off as quickly as possible you can reduce your outlay on pointless interest charges.
- Make a Shopping List and Use Cash
It is far, far too easy to spend more money than you meant to when you go shopping. Try to limit yourself by knowing exactly what you want to be buying BEFORE you go shopping. Also if you take the right amount of cash with you, rather than a debit or credit card, you will not be able to spend more money on anything, as you won’t have any more money that you can spend.
- Shop Around for Your Bills
It is amazing the amount of money you can knock off bills simply by changing suppliers. Electricity, car insurance, gas and more – all have considerable savings to be made if you are prepared to look for the best deals. Comparison sites abound all over the internet, and good deals can knock off hundreds of pounds.
- Sell Off Your Unwanted Possessions
Car boot sales and eBay are becoming more and more popular, both for sellers and buyers. Rather than keeping junk stored up grab what you don’t need and get selling, you could be sitting on a gold mine that can give your savings a real boost.
- Do DiY
Many things can be repaired or built for far less than we pay for the new versions. Tables, drawers, cabinets, even beds, can be created easily with some wood and some know-how or research. Rather than spending a lot of money on new furniture consider repairing or building to save hundreds of pounds.
- Look for Freebies and Money Off
The internet has given access to all sorts of possibilities – including thousands of money off sites which give you vouchers to save money on anything from supermarket shopping to fun days out. There are even sites that allow you to grab freebies, such as furniture people are going to be throwing out that you can grab for free, simply having to pick them up yourself.
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