Improve Your Spending Budget Using These Money-Saving Moves

For UK families with deep pockets, daily spending concerns are covered, without taking drastic measures. But many people have budget limitations, calling for a frugal approach. Money-saving opportunities are widespread, helping people keep costs as low as possible – on everyday items as well as major purchases. If you are looking for lasting solutions, capable of easing spending pressure, taking the following steps can help you overcome short-term cash flow difficulties and find firm footing for the long run.

Painless Saving Opportunities

Nobody likes feeling squeezed by savings strategies. On the contrary, maintaining your lifestyle preferences without overspending is like having the best of both worlds – affordable living and rewarding experiences. Faith Archer, from Much More With Less offers several accessible actions anyone can take to save money and bolster their finances in 2018.

Reduce Your Council Tax – Although you may run into resistance, exploring lower Council Tax may work out in your favor. If you’ve lived at your present address for a number of years and feel as though your neighbours are paying less, compared to your Council Tax, it may be possible to land a lower rate. Be sure you’re comparing apples to apples, evaluating similar houses. And recognise you might stir things up for your neighbours by bringing them into the process.

What About Water? – Installing a water meter enables you to pay for what you use, accurately reflecting your water usage habits. Flat rate billing uses estimates instead, figuring your bill according to average calculations. A meter can work against you if there are lots of people using water in your house. If you’re single or have fewer folks living under your roof, the effect could be exactly opposite, furnishing savings for metered billing, when compared to paying estimated bills.

Make a Mortgage Change – Variable rate mortgages offer attractive rates for buyers, but they can also drain your finances when the base rate shifts. When you’re in need of savings, a close look at your mortgage can yield the opportunities you desire. A mortgage broker can help you sort out your options, but online resources are also available, highlighting market conditions and mortgage lending rates. Although the Bank of England recently bumped rates higher, you may still be able to contract a better mortgage deal than your current loan.

Save With Supermarket Moves
– Food spending never goes away, so making moves to save money at the market add up to considerable savings, over time. Own brands and other food discounts may not sit well with family members, but if the flavor isn’t right, you can always switch back. It can also be beneficial to spread your shopping across more than one market. Fresh produce may be cheaper at one location than another, and buying toiletries where they’re priced right helps balance your consumer costs. Don’t forget to make the most of loyalty schemes. You’ll have to do the maths, but your loyalty card can sometimes yield bonuses for travel and entertainment bonuses.

Use Cash Back Websites – Online shopping has grown into a modern-day convenience consumers lean on for widespread buys. If you’re an online shopper, but you don’t use cash back websites, you’re probably paying more than you should for regular purchases. Earning a few per cent cash back from your online shopping may not seem like a lot of money, but you might be surprised how it adds-up over the course of a calendar year – and beyond.

These are only a few of the money saving ideas recently shared online. You may find some don’t apply to your financial circumstances. Your mortgage, for instance, may already be locked-in at the best available rate. It never hurts to double-check with an eye toward savings. Using every available resource to compare products and providers online ensures the best possible value – whether you’re shopping for a short-term payday loan, a mortgage, or everyday household items. Use these and other common-sense strategies to save money and improve your budget in 2018.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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