8 Tips to save money the right way

Money can be a big issue in most families these days but with some
re-adjustments you can start saving straight away. Budgeting and cutting back is key to saving. You have to be strict and don’t impulse buy.
1.Tax Relief
Make sure that you are not paying too much tax. Make sure your tax
credits are correct and that you are receiving all the benefits that you are
entitled to.
2. Television
One of the most expensive things household have is tv subscriptions. These subscriptions can cost your family up to £1000 a year. Cancel these subscriptions and you will be on track for saving a little extra each month.
3. Open Saving Account
Open a savings account in you local bank. These accounts have fixed amounts you have to save every month. This means that you have to save the money and it acts like a deterrent to the money out.
4. Payment Protection Insurance.
The banks mis-sold 6 billion worth of PPI policies. See if you are due a re-claim today. PPI claims companies can help you reclaim all the compensation you are owed by the banks.
5. Cut back on non essential or luxury items
The amount of money you can save if you cut out luxury items is huge.  If you stick to your budget you can treat yourself towards the end of the month with luxury items.
6. Pay off debts with higher interest rate first
By doing this you will save your household more money over the course of the loan as you wont pay it all back in interest. This generally means that people pay off their credit card bills before loans.
7. Special Offers
Look out for special offers when shopping for groceries. Make sure to check the dates on the products as you don’t want to be buying lots of perishable goods. Shop with the stores own brand as most taste the same and are considerably cheaper
8. Insulation
The last thing you want to be doing is paying for your house to get heated twice. This might cost money to insulate your home but it is worth it as you don’t waste money on heating bills.

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