Start Saving Now For Christmas!

It may seem far too early to think about the festive season, but in fact, now is the perfect time to start saving for the end of year expenses. Here are some simple ways you can save a significant amount of money between now and December.

A coin bank or bottle – Buy a coin bank or jar. There are many shops that sell sealed tins for saving money. Did you know that if you put only pound coins in one of these savings tins, when it’s full, you will have saved over £250! And because they are made as sealed tins, you won’t be able to get the money out easily, so you are more likely to save it.

Open a new savings account – Did you know that putting money into a simple savings account can actually help your credit rating with your bank? Even £10 per week will make a difference and build up to a significant little Christmas fund by early December. That’s 40 weeks, starting today, to save £10, which will come to the grand total of £400.

Start an office swear jar – Working with a group of people can be fun and you can use the proceeds for charity or for a staff party. Every time someone swears at work, they pay a sum into the jar. You will be amazed how quickly it will fill up!

Turn it into a competition for the entire family – Start a family saving competition. Each member of the family gets a jar and they all pledge to save x amount each week. Any additional amounts are added to their score. All coins and money found in trousers, on the floor and under cushions is saved in the finder’s jar, and additional savings can be made in return for chores. E.g. do the dishes, have £1 added t your jar. It’s a great way to teach children the value of earning money, saving money, and taking care of money.

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Can Grocery Shopping With A Credit Card Save You Money?

This is a serious question! There have been a number of consumer blogs discussing this subject lately. The conversations are centred on some advice which was posted online recently, suggesting that using a credit card for grocery shopping was a way to save, and even money. While the original article failed to fully qualify this statement, and as a result, caused much heated debated, we have looked at this subject and can share our thoughts.

Don’t ever use a credit card for every day, or regular essential items unless you are absolutely certain you can repay the full amount straight away. If there is any doubt that you will be able to clear the balance before the end of the month in which you make the purchase, don’t do it. It will result in interest charges and ultimately it will cost you more.

If you can afford to repay your credit card balance every month and you have a zero balance and a zero interest credit card deal, then here’s how you can use a credit card to build your credit and your credit rating:

Buy your groceries and fuel on a credit card, and only use it for these purchases, don’t use it for anything else. As soon as you are paid, repay the entire amount in full, before the deadline for interest is applied. If you do this every month, you will see your credit rating go up, your credit level go up, and you will still be spending the same amount of money.

In addition, if you are clever about which credit card you use, you can benefit from some additional benefits. For example, using a supermarket credit card and loyalty card will build you a larger number of points that can be redeemed for goods, which is the equivalent of money saved.

Be extremely careful about using a credit card in this manner. If you are not good with them, or have a track record of not clearing the balance on your card, it is probably not the best idea and could make matters much harder for you.

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Should You Take In A Lodger To Make Some Extra Cash?

 

Recently published articles, online and in the press, have highlighted the increasingly popular trend of taking in a lodger. Many families who have a spare room or ‘granny flat’ are opting to rent the space out to supplement their income.

If you have a spare room in your home, here are some pieces of advice that may help you decide if this is an option for you.

Renting a room or an annex of your home to a lodger can result in an increase in the amount of money you are bringing in on a monthly basis. However, take care to ensure that the rent you are changing will cover the additional electricity and heating that may be used.

Think about the ground rules you will need to set beforehand too. If your lodger is not a close friend or member of the family, will you want them in the living room with you and your family in the evenings? Will it be suitable if you have a young family with a number of children? These are important questions you should consider first.

In addition, if you are in receipt of any welfare benefits, take care. Having a lodger will bring in extra income but it could have a knock-on effect on the money you receive.

If you own your home, then you can decide who stays there. But if you rent or lease your home, you will need to check with the landlord first and get their approval too.

All these points are not designed to put you off the idea. They are simply mentioned to help you make an informed and logical decision that will truly benefit you and your family.

Many successful cases involve taking in close family friends or relatives who want to try living in a new area. If you have an annex, a couple new to the area who are working is a great way to find lodgers who are financially secure.

Renting a room or flat is definitely a fruitful way to add some income, but always make sure you protect yourself, your property and that you get the right advice about leases and standards for rented properties.
 

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Renting Out A Second Property

Families are changing in the 21st Century. Now, it is quite normal for men and women in their forties, with children, to be living on their own after a divorce. Consumer research reveals that increasing numbers of couples who meet and enjoy a second marriage, will have two homes. While some couples may opt to sell both houses and buy a new one, increasingly, they are opting to rent one property and live in the other.

This makes huge financial sense for a number of reasons.They retain ownership of both properties. If there is still a mortgage on the property to be rented, they can use the rental income to cover it and save a little extra in the bank for upkeep and maintenance. This may seem as though they are not making any extra money but they are because they own the rental house, and the mortgage will be paid by someone else!

Many families prefer to own properties instead as a form of retirement savings. The lack of certainty surrounding pensions in recent years has increased the number of people who are using property as an investment for the future.

Second properties can also be extremely useful if they are in a city location. There are many families who keep the second house or flat, and then make it available to older children at university, or who are starting out in life and need a helping hand.

There are so many wonderful stories of single parents who have worked hard to keep their homes. And then they meet a new partner and suddenly, there are two properties in the family! And things are looking much more financially secure all of a sudden.

If this happens to you, or it has happened to you, take your time to discuss the best options for you and your partner, and your children. It may be that keeping both homes will give you an extra income and a valuable nest egg for the future.

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Do You Pay For Satellite TV?

We are all aware that television is digital now. However, we have the choice of using Freeview or paying a subscription for a satellite or cable service.

Paying a monthly subscription for satellite or cable television channels can be extremely expensive.

One satellite company, charges almost £90 per month for a package which include all the channels, including movie channels and sports channels. £90 per month equates to £1080 per year. It is a significant sum! However, many families are more than happy to pay it because of the level of choice and home entertainment it gives them. And certainly, in that respect, it is cheaper than a trip to the cinema once a week for a family of four!

If you and your family do not watch a great deal of television, a Freeview option may be the best choice. All you will need to purchase is the box and a suitable television. The number of free channels that are available via Freeview services is always increasing too. A number of consumer forums online are indicating that many people who were once monthly subscribers are moving to the free options to save some money and cut back on additional expense. If you are looking for ways to save money and cut down on monthly bills, this is one that will reduce and save you a helpful amount of money each month.

Subscriptions to online, multi-device services like LoveFilm or Netflix are also increasingly popular. People can choose the films or series they want to watch and on average, the price of the subscription is as little as £5 per month, which is a huge saving when compared to £90 per month.

Shop around and look at all the options available to you. Check the prices given by different providers and look at ways of creating packages of TV, mobile, broadband and telephone that may save you money each month.

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Growing Numbers Of People Have More Than One Job

Increasingly, the trend for many people is to have more than one job or source of income. Sadly, the cost of living is making it extremely hard for families to survive on the traditional one wage scenario. Today, it is rare to find a family where only one adult works. In most cases, both parents of a family will have some sort of income or employment, and in some cases, even the older children have a small part time job too.

While this is highly commendable and shows willingness to work for what we have in life, it is also a sad indication of how difficult life has become now. For many families, the pressure of paying bills and making ends meet means that sacrifices have to be made, and in most cases, this sacrifice is time spent together.

Shift work, unusual working patterns and having to attend to different jobs on a daily basis can all take their toll on an individual’s health and well-being. And in most cases, finances do not allow for a change in circumstances.

If you have to work hard at two jobs, then you should congratulate yourself for your hard work and dedication! You are to be praised for the time you are sacrificing for your family to have a secure life. Just don’t forget, that you too need to rest and recuperate. And you also need to feel the benefits and rewards of all your hard work.

Resting as often as you can, enjoying fresh air, exercise and quality time with your loved ones will help you get through a hard working week and deal with the pressures of keeping two jobs. Delegating chores at home will ease the pressure on you when you return. If the whole family shares in everything that needs to be done, you will automatically all have more time together, and you will all be happier too.

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Treating Yourself Is Good For You And Not So Bad For Your Bank Balance!

After working hard all month, we all deserve to have a treat. Although it can be difficult to really splash out, research, and studies show that if all we do is work and pay bills, we will quickly become exhausted and sometimes even depressed. Giving yourself a treat is definitely good for your health!

However, it does not need to cost a lot of money. Taking a long walk with a loved one is as much of a treat as a meal out in an expensive restaurant. Thinking of exciting and indulgent treats, without having to resort to always buying something, can be an invigorating and fun experience.

A candle lit bubble bath won’t cost anything but will leave you feeling rejuvenated and wonderful, whether you are male or female. After a hard week, a long soak in a hot bath listening to relaxing music of your choice and just lying back, will ease sore muscles and melt stresses away.

A cosy dinner in front of the TV watching a brilliant movie is another way to have the night off and make the normal routine slightly different. Or you could switch the TV off for a change and read a good book. The quiet tranquillity of enjoying a good book can be hugely beneficial to us. Statistics show that the majority of us spend over 60% of our time looking at a screen whether it is a computer screen, phone, mobile device or television. Give your brain and eyes a rest with a book instead.

How often do you have a proper lazy day? It is not always easy with a young family and varying work commitments. However, if you can, choose a day to spend really relaxing. No housework, no work, nothing but sleeping and relaxing. You can go for a walk, potter in the garden, visit a friend or just spend time on a hobby. These things are so good for us, mentally and physically, and they are much better methods of relaxing and getting away from the tresses of life than heading to the shops and engaging in a huge, expensive spending spree.

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