Here are our top 10 tips for making your money go further
1: Work out your weekly budget
This means you know exactly what money is coming in and what you spend. This will help you not to overspend.
2: Bargain for things!
Be brave and try to get a discount when you buy things – particularly if you’re paying cash or if you’re buying more than one of the same things.
3: Make a list when you go shopping
We throw away nearly a third of all the food we buy – so that’s cash straight in the bin. If you plan meals, watch your portions and learn to love leftovers you could reduce your food bill and reduce your rubbish at the same time.
4: Save energy in the home
There are lots of quick and easy ways to save energy in the home, like changing to low energy lightbulbs, not leaving things on standby and switching off lights when you leave the room. They can add up to cheaper energy bills. Get free energy advice from the Energy Saving Trust Advice Line on 0800 512 012.
5: Shop around for energy providers
You could also lower your energy bills if you shop around different companies and always ask about their social tariff which is a special price for people on low incomes.
6: Get insured
If something happens, like a flood or a fire, then having contents insurance will mean you’re covered. Flourish Homes has a special deal with AON Insurance which offer different payment rates. Find out more by ringing Income Recovery Team Manager Terry Pitfield on 01749 334408.
7: Home furnishings
If you are on benefits and you need furniture or electrical items – from cookers to hairdryers – try FurnEquip in Frome or Glastonbury which sell reasonably priced secondhand household goods. Contact FurnEquip Frome on 01373 467320 or FurnEquip Glastonbury on 01458 831188 for more info. Everyone can try freecycling – where you recycle things you no longer need and get stuff you do – all for free. Find out about local groups by searching on www.freecycle.org
8: Try saving
We all need some rainy day money. You can open simple savings accounts with the Mendip Community Credit Union. Once you’ve started saving with them you can then borrow money if you need to – at reasonable interest rates.
9: Quit smoking
OK, this’ll take willpower if you’re a smoker but think of the money you’ll save. There’s lots of support out there to help find a way to help you quit. Many ex-smokers put the money they spent on cigarettes in a jar and treat themselves when it mounts up as an incentive to carry on. Find out about support at www.quit.org.uk
10: Do you really need it?
If you don’t need it or can’t afford it then the best tip of all is just don’t buy it!
Check out www.thisismoney.co.uk/50ways for more ideas on how to save money.
