Sometimes the thought of being Debt Free can seem like an impossible dream. You may think that it is impossible to save when you have debts to repay and have to worry about the increasing costs of living.
We all know how important it is to save money so we have access to a little bit of extra cash should we need it on a rainy day, such as having to pay for car repairs.
There are simple saving tips which you can follow to ensure that you are maximising your income:
1: Save the change – We all know the old saying that our parents have told us, save the pennies and the pounds will look after themselves. This is really great advice to follow as those pennies can easily add up, leading you on the route to increasing your savings and becoming debt free.
Save the change everytime you buy something. So you can choose to save either the copper or the silver, or even both if you are feeling flush. Put them away in a sealed container so you can’t have access. When it is full, go down to your local bank and ask them to pay it straight into your savings account or to pay off your credit card, so you are not tempted to spend the cash.
2: Enjoy Being Saving Savvy – Saving becomes even more impossible if you have no motivation so it is important that you set yourself a goal, such as a house deposit or a new car.
It is likely that saving means you will have to say no to a few social offers. So every time you turn down a trip to the pub, put the £20, £40 or more that you would have spent aside. This trick will really see your savings.
3: Use Coupons – Since the credit crunch, an increasing number of people are using coupons both online and instore in order to save money.
Before you buy an item online it is always worth checking to see if there is a valid coupon on the internet. The extra money that is saved should be put aside and added to your savings and you shouldn’t notice a difference as this is money which would have been spent regardless.
4: Don’t pay to access your own money – Your money is yours and you shouldn’t have to pay extra to withdraw it. But there are cash machines out there which will do just that. Some ATMs can charge you up to £1.50 each time you withdraw from their machines, so it is always worth avoiding these and finding one close by which will let you withdraw for free.
5: Sell, Sell, Sell – Chances are you have items which you no longer need or want. Although you may think that your old clothes are not-fashionable and no one would want to buy it, you would be surprised!
Online auction sites, such as eBay, are a great way to sell your items and de-clutter your home at the same time. Or you might want to go to a car boot sale and sell your items that way
