From saving up for a mortgage to freeing up some cash for a brand new vehicle, whatever type of personal investment goal you have there are a range of ways to save money. Many of us constantly complain about financial woes and claim we’re trying to save, but for personal investments building up decent savings is essential.
Not all of these methods will be appropriate for everyone yet the ones that aren’t may lead to further inspiration. Even if you’re just looking to tighten the belt ahead of a luxurious holiday or to increase your savings for a rainy day, the following tips will all help.
Cut Fuel Bills
Energy prices have been increasing for the past few years, with the average household fuel bills doubling since 2003. They now make a large dent in most people’s budgets and are an easy place to start making savings. If you’re on estimated bills change to one where you pay for what you use and measure electricity usage to identify areas to cut back on. Installing insulation will reduce heating bills and make your home much greener too.
Change Your Car
Running a car can be an expensive endeavour, from the initial purchase to insurance, fuel costs and breakdown cover. Think about switching to a cheaper model, both in terms of initial price and running costs. Selling your current one and buying a more affordable used car from a local dealer is an effective idea. Ensure you compare the insurance costs and mpg before opting for your next vehicle.
Sell Unused Items
Loads of us have plenty of unused items lying about our homes just waiting to be chucked out. Raise some money to go towards your savings by selling these online. Whatever kind of items they may be, from clothes and books to useless old junk, you’ll be surprised that there’s always going to be someone interested in them out there. Certain people even make a living just by buying items cheap and selling for a profit online.
Do Your Shopping Online
Plenty of research shows that when you shop for things like gifts on the high street you end up paying over the odds. If you spend a little time online shopping around for a better deal you’ll find that your monthly expenditure is massively enhanced. Try sites like onlyreview
s.com to find better deals and free up more money to put aside.
Reduce Insurance Costs
There are various types of insurance that you will probably have taken out. Home insurance, car insurance, life insurance and many more are all essential. However, as it is such a competitive market there are always insurers hoping to undercut each other. Take advantage of this by comparing what it is you need insuring to find the best deal. This can save you hundreds of pounds over the course of a year.