Ten Money-Saving Tips

One of the most effective ways to pay off your debt quicker and get back to a debt-free life is to save as much money as possible through making changes to your lifestyle. Here are ten top tips that will help you to cut back on your spending.

1. Cut back on the non essentials.

If you have a number of regular little habits that cost money, such as drinking an expensive cappuccino on the way to work or buying a glossy weekly magazine, do your best to cut these out. Small savings will lead to large savings over the course of a year.

2. Switch power provider

There are comparison sites all over the Web that will allow you to find out if you are paying too much for your power. If you are, switch and save yourself some money without making any lifestyle changes.

3. Now is a good time to quit

If you’ve ever wanted to quit smoking, now is the perfect time as there will be increased impetus to do so. Kick the habit, get healthy and enjoy the financial rewards.

4. Switch savings account

If you have a savings account that you are not using to pay off your debt, switch the money to a higher-rate account. They are quite hard to find at the moment, but they are out there.

5. Use free software

These days you don’t need to fork out huge sums of money for Microsoft Office or an expensive security system. Instead, take advantage of one of the numerous free software programmes on the internet, such as Open Office and AVG, to make huge savings without losing out on quality.

6. Switch internet and mobile providers

Being connected to the internet and having a mobile account are now so necessary for many people that it is inconceivable to think of going without either of them. But did you know that you can make huge savings by switching providers?

7. Pay off your credit card by direct debit

If you shop by credit card, make sure to pay off your full amount by direct debit at the end of each month as by doing so you won’t be charged any interest.

8. Compare insurance prices

You may be able to find a much better deal than your current car, home or travel insurance premium offers by shopping around, and this could make you some fantastic savings.

9. Take out a secured loan

If you need to take out a loan then consider a secured loan. These are more risky, but as you are putting up something of value as collateral then you will probably be able to get a much better interest rate.

10. Re-evaluate your shopping

You may be used to buying the top quality food and drink at the supermarket, but you can often get the same things for a lot cheaper by going with own-brand products. A lot of supermarkets also sell clothes now so you could even cut down on your clothes spending while you’re at it.