Forgotten Direct Debits Are Costing Us A Fortune!

A recent online money advice article highlighted the issues of forgotten direct debits. It seems that many people often forget about small seemingly insignificant amounts of money that are coming out of their accounts. And it is something we have all done. We may have forgotten a subscription for a magazine or an additional television channel, or subscriptions to mobile apps, online games or even online services. When the amount is just a pound or two it can be easy to forget about it and not notice.

The problem is that all these little direct debits could result in a significant amount of money over a year. And if they are payments going to companies we no longer use, or don’t need, then the money will be better spent elsewhere, or remaining in your pocket.

It’s already a well-known fact that many people do not even look closely at their bank statements. Instead they will simple look at the bottom line and check the last few transactions, or any payments they were expecting.

Our advice is to regular check your bank statement every month. It’s also a good idea to go through your direct debit list and cancel any direct debits that are no longer in use every six months or so. If you start using the company again, you will need to set up another anyway.

In addition, check you iTunes account for recurring payments to apps, and your credit card statement for any payments coming off each month. These may be payments that are for websites and other services that you don’t need any more or may have forgotten about.

If you want to keep the services then continue to pay for them. The point is, why pay companies money when you are not using their products or services? Instead, carefully check what is being taken out of your account and by whom, and if there is any unnecessary expenditure there, you can address it and save the money or use it elsewhere.

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A Simple Saving Exercise To Show You How Easy It Is!

This is a simple saving tip that you can try yourself, or you could encourage your children to try it. It’s a great way to learn about saving and an easy way to get started. Saving can seem like an almost impossible task, but in fact, it is much easier than most people imagine. Try this simple tip and see how much you could save in just a month.

Cut back on one thing you buy every day, just one item. It could be a coffee on route to work or your usual purchase at lunchtime. At the supermarket, what do you always buy that often ends up unused or lying at the back of the freezer? Papers, magazines, even subscriptions for services, or casually bought snacks could all be sacrificed for this little experiment.

All these additional items add up to a significant amount of money each year. Choose items that save you just £1 every day. Instead of using that money elsewhere, save it. It will be easy because we all usually have a £1 coin in our wallets and purses.

After one month you will have enough for a takeaway for a family of four.

After two months you will have enough for a day at the beauticians or special meal out.

After three months you will have enough for some new shoes.

After four months you will have enough for an entire outfit.

After five months you will have enough for a nice weekend away.

One of these treats could be yours for just £1 per day!

Try it, first decide what you are saving for, and then get started. And the amazing thing is, once you achieve your goal having saved just £1 a day, you will find it much easier to save a little more each time.

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Millions Of Consumers Are Shopping Around

 

 In a bid to save money on everyday purchases, consumers are increasingly shopping around. Retail loyalty is not as strong as it once was, especially with regard to supermarkets and high street chains. Families who are trying to make their money go further are shopping around, online and in town, so they can find the very cheapest prices on the items they are hoping to buy.

This is great news for the consumer. It is a trend that is encouraging many shops to be far more competitive with their pricing. And while all the big retailers drop their prices to beat the competition, the consumer can benefit.

And there are many more ways that consumers have been changing their behaviour in recent years. A consumer survey has revealed that shoppers are much less likely to ‘go shopping for fun’. Normal working families are increasingly feeling the financial pressure as the cost of living rises and one result of this is that recreational shopping is not the first choice on a Saturday anymore.

In addition, household items that were often bought using credit facilities are now being purcashed with cash. The trend seems to show that families are less confident about accessing store credit, and in many cases, prefer to pay cash for items in sales or from online retailers who are selling goods at a much lower price.

EBay, for example, is enjoying huge popularity, with millions of people buying and selling goods and by-passing the retailers entirely. A healthy economy needs a healthy retail sector, and so this apparent change in the shopping behaviour of the majority of consumers is a strong indicator that the economy is still struggling. However, from a family’s point of view, where the goal is to live as well as possible within the available budget, it makes complete sense that they should be shopping around and only spending their money with retailers that are offering goods at a reasonable price.

The halcyon days of the 80’s when money seemed to be abundant and credit was easy to access, seem to be well in the past. And this may not be a bad thing at all.

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A Fun Night In At No Extra Expense!

Over the last few years, while we have all been struggling to survive the double recession, there have been a number of leisure activities and entertainment options that have grown in popularity. The desire to save money, cut back on expenditure and still enjoy life has encouraged millions of families to identify much cheaper and even free ways to enjoy their leisure time. Here are some of the most popular ways to have fun with no additional expense.

Walking and Cycling – these leisurely sporting activities are hugely popular with people of all ages. Walking is free and even urban areas have lovely walks along rivers, canals and in parks. Cycle hire is extremely inexpensive, so individuals wanting to enjoy a leisurely cycle without the investment of buying a bike can do so very cheaply. Don’t forget that if you are cycling you will need a helmet too.

Evening classes – A course of evening classes at a local adult education college or night school can cost as little as £5 per class. It does depend upon the subject you choose, but the prices are usually extremely reasonable, and many of the courses result in a vocational qualification or certificate. Look out for free taster sessions or classes that have funding in your local area. There are usually local government projects that offer free classes for certain subjects.

A home-made takeaway – This is an idea that was originally started by a well-known TV chef. The idea is to enjoy your favourite take-away food, but instead of buying it, enjoy cooking it instead. While some foods can be expensive to replicate, like Thai or Japanese food, other favourites are extremely cheap. For example, grilled chicken kebabs, pizzas, fried rice, stir fries and pasta dishes can be made for much less than the takeaway price. Make sure you have a great movie to watch on TV while you are enjoying your home-made takeaway.

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Enjoy A Trip To the Movies Without Spending A Fortune

The average cost for a family of four to enjoy a film at the cinema is now £60! That is an amount of money which many families are simply unable to spare. £60 makes up a significant part of the weekly budget for the majority of families.

However, we all deserve a treat. And after a hard working week, sometimes it’s important to enjoy some leisure time and get away from the stresses of the week by watching a good film at the cinema.

Here are some methods growing numbers of people are using to make a trip to the movies much cheaper.

Look out for special offers. Most cinemas have discount days or offers for family tickets.

Growing numbers of families are taking a bag of sweets and a small drink for each child with them. The average price for one medium juice, medium popcorn, and one bag of sweets at the cinema is a shocking £9! Yes, the average unit price for most items bought in a cinema is £3. If you have two or three children, this can really add up. It should be noted however, that many cinemas do not permit customers to consume food or beverages bought outside their premises during the showing of a film. Its best check with your cinema and decide on the best course of action.

Another, cheaper option is to take them to a fast food chain like McDonalds or KFC. They offer children’s boxes and smaller cheaper menu options for between £0.99 and £1.70. And your family will be just as happy with a pre-movie trip to their favourite burger or fast food retailer as they will be with expensive popcorn that usually ends up on the floor!

If you are a regular cinema goer, get yourself a loyalty card. Over time these can also give you savings on treats from the popcorn stand, and on tickets to see films.

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Is buying organic produce really an expensive option?

Recent consumer surveys highlight a popular belief that organic produce is far more expensive than its non-organic counterpart. This is largely due to the pricing policies of the supermarkets from where the majority of consumers buy their groceries.

However, a growing number of people are sourcing wonderful fresh organic vegetables and meat, straight from farmers, using organic producer networks, farmers markets, and farm shops. While there is still a perception that this option is much more expensive, in most cases this is not true.

There are some companies offering a delivery service of local organic produce. Vegetable and meat boxes  are extremely competitively priced and in many cases, the quality of the produce and the quantity sent, makes it comparable with supermarket prices, if not slightly cheaper.

What are the advantages of buying fresh organic produce direct from a farm supplier?

You are cutting down on the additional costs of packaging, marketing and supermarket overheads.

You are supporting your local economy and local farms by buying locally grown produce.

Organic food is healthier, free of pesticides and chemicals. No genetically modified foods, bleaching agents or chemically treated foods.

Organic, fresh vegetables last longer. How many times have you been annoyed by how quickly your fruit and vegetables from the supermarket spoil?

In a simple study, enough vegetables, eggs and bread for a family of four were purchased from a supermarket and from an organic supplier. The organic supplier was £5 cheaper. Now, while this may not be the case in all parts of the country, the trend is growing and more suppliers are cropping up all over the UK.

Have you noticed that supermarkets always compare their prices with other competing chains, but they are not comparing their prices with the organic producers? That’s because the farmers are often cheaper, and because they say, they can’t compare like with like!

Do some research and find out what local farmers and producers are selling in our area. They will be selling their produce direct to the public either from a farm shop, market or online. You may be surprised by how many cheaper, healthier and fresher alternatives you are able find.

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Which Is The Cheaper Option – A Used Car Or A New Car?

This is a question often asked by consumers. At first it may seem that the answer is that a used car is cheaper, but this is not always the case. It is dependent on the type of car you are looking for, how old it is, and upon how you will use it. In truth, the difference in price between new and used cars is not always significant.

Used cars – They are obviously much cheaper than brand new cars. However, if they are more than three years old, you should have a trusted engineer look at it so ensure the engine is in good condition and that it has been properly serviced and maintained. Buying a very old car can cost you in the long run because of the ongoing expense of fixing it and replacing old parts. Unless you are a car enthusiast looking for a truly vintage model, or you are highly knowledgeable about cars, it is not advisable to buy a car over ten years old. Used cars seldom come with warranties. Some may, if you buy them form a dealer, but for individuals who buy cars direct from a previous owner, there will be no warranty protection. Check the mileage of the car too. Often cheaper used cars have much higher mileage figures and this can indicate wear and tear on the engine. You must also make sure the vehicle has not previously been in a car accident. Used cars are not usually available to purchase on finance unless you are buying f
rom a large dealer, in which case the prices may be higher than those found in private sales.

New cars – New cars can be purchased for cash, or on finance. If you are able to get a low percentage finance deal and some money off for a deposit or trade-in on your old car, this can be a frugal option. Brand new cars or cars that are less than two years old will be sold with a warranty if you buy from a dealer. In addition, they will have much lower mileage figures so you will be getting a virtually brand new car at a much cheaper price. Many car enthusiasts believe that cars are at their best when they are about a year old. This can be true, if it has been properly serviced and looked after. A brand new car does not need an MOT until it is three years old. You will receive a warranty with your car as the first owner. This can be anything from one year to five years.

Shop around to find out what the latest deals are.

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