Saving Your Money: How to Make It a Reality

saves money. savin, savin your maoney

Saving Your Money

How many times have you wished for a big lottery win? If you are like most people, the thought will probably have crossed your mind at least once or twice. Whilst a plump jackpot would be a lovely addition to your bank account, there is really only a very small chance that a lottery dream could become a reality. Therefore it makes sense to look at realistic ways to increase your assets without crossing your fingers in front of the TV late in the evening.

That is where the concept of saving comes into play. Many of us are well-trained in the act of spending, even with money we do not have sitting within a savings account! Saving money is an entirely different kettle of fish; it is all about living comfortably within your means whilst your money accrues to become a worthwhile asset.

If you are keen to have a few (or a few hundred or thousand) more pounds to your name, here are a few tips for making saving a reality:

Resist temptation
The very first recommendation for you as a new saver is to make it a bit easier on yourself by resisting retail temptation. Window shopping often sounds like a great idea when you want to avoid splashing the cash, but it is really easy to convince yourself that you need the pair of trainers you see in a window, or even a car on a showroom floor. By removing yourself from this situation for a reasonable amount of time, you may be able to learn to resist spending where it is not strictly necessary.

Find the right investments
One of the next things to consider is how you will actually go about saving your money. There are many different ways such as general savings accounts, ISAs and shares. It is worth checking the most recent rules and regulations regarding savings products as there may be something new that you don’t already know about. One example of this is peer to peer lending becoming included within ISAs.

Think long term
Of course, many types of investment require you to think about your income and your financial obligations. Many forms of investment have the chance to generate you more interest and assets if you are able to commit to a longer term product. That is why the rates for ISAs and shares differs – some will allow you to access your cash fast, whilst in others it is held for a pre-agreed period of time.

Keep up the good work
Once you are on your way to a more comfortable financial future, you will want to continue what you are doing. This can be difficult to achieve alone, which is why many financially savvy savers recruit the assistance of an impartial advisor. Financial advisors are a good bet if you want to find out about new products and ways to invest; and the best part is that your advisor will have your interests and specific situation in mind.

Staying financially safe in 2012: your guide

Property Buyer

Specialist Property Buyer

It seems like each year brings another financial woe to the table, constraining income and making it harder to avoid the possibility of debt. However, with a fair and balanced approach to your money, you can keep away from any difficulties that lesser planning could force you to face.

Firstly, cut down on any impulse spending. If you’re hungry, don’t go food shopping. If you’re off on a night out, or heading to a party, don’t go to a clothing store. These will usually lead you to buy there and then for things with little long term value. It may even be worth taking out your maximum spend in cash and leaving your cards at home.

Similarly, keep a budget spreadsheet and stick to it. You can measure out how much you can save, put towards bills and other things that you’re struggling with, and generally plan for a better financial future. The best bit is that you’ll be able to see how much you’re saving yourself for a good time. It’s not all bad if you plan properly!

However, if you’re really struggling to get out of serious debts and you have assets, it may be best to do away with them and downsize. For example, if you sell your house quickly through a specialist property buyer, you can pay off bills and move forward from there, renting until you feel confident enough to get back on the property ladder.

Obviously, throughout this process, it’s worth staying away from credit cards, especially for more menial purchases like food shopping. It will only serve to create a larger interest payment, should you not be able to get on top of the minimum bill. If you can, stick to debit cards for as much as possible and cut up credit cards if you can’t trust yourself to stay away from them.

Whatever your approach, it’s best to find what works for you. Remember that charities like Citizens Advice and Credit Action are on hand to help, should you need further guidance to match your personal circumstances.

5 BEST WAYS TO SAVE

Savings Tips

Savings Tips

It is so easy to become compliant with the money you find yourself paying out month after month but STOP! Chances are you are paying out money unnecessarily somewhere along the line. Use these helpful tips to cut down on spending.

1.      Make your savings work for you. With a wealth of cards on the market, ensure that your savings account is the best one on offer. It may also be worth your while looking into ISAs, offering great rates on tax free savings but you normally have a minimum investment term you will have to commit to.

2.    Often, our biggest pains are taxes. It is well worth checking that the tax man is taking more than he is owed. I would seriously suggest questioning all the taxes you pay, particularly income tax and council tax. When council tax bands were outlined in 1991, the value of some properties was estimated and has often been found to be wrong, this could save you £100s as well as being back dated to 1991 if found to be wrong.

3.    Stop impulse buying! I don’t know about you but every month I seem to flitter away my wages and am left wondering ‘where has it all gone?’. If I’m being honest with myself I know where it has gone; on impulse buys that I thought would cheer me up or would come in handy and is now gathering dust at the bottom of a cupboard. Simple solution to this problem? Stop buying on impulse, think over all purchases thoroughly before committing to buy.

4.    Do the weekly shop online. By taking a wonder round the supermarket you are putting yourself at risk of the above. Stick to a shopping list, and resist the urge for that new CD, it may temporarily make you feel good, but it won’t last when you check your bank balance. Also by shopping online you can benefit from knowing how much you’re spending before it has been scanned through a till and put back items when you find you’ve overspent.

5.    Go green. It isn’t for everyone but being green can pay. Currently the government are offering an incentive to those considering doing their bit for the environment so now is the perfect time to think about installing solar panels or other ways of cutting down on energy consumption. As well as saving you money, you can also feel guilt free during global warming news.

3 THINGS THAT SHOULD ALWAYS BE PURCHASED ONLINE

Prices can differ substantially depending on if you purchase a product or service online or in-store. In my opinion online retailers tend to be cheaper, and I think the main reason for this is that they obviously have lower overheads. So with regards to saving money, whether it be to build up your money in your ISA account, or whether your saving for something special, I thought I’d detail 3 things that I think should always be purchased online, and here they are.
Flights
There are so many options available online when it comes to flights and holidays, it makes it so easy to find a really good deal. I always purchase my holidays or flights online and most of the time I use holiday comparison sites, as they do all the hard work for you. I think that the day of the travel agent is basically over, I can’t remember the last time I went to one if I’m honest!
If you use a holiday comparison site, once you tell the website where you want to go and how long for, it will display a list of results that you can choose from. Comparing this with in-store, travel agents basically just do the same thing, unless they have any exclusive offers. Using travel comparison sites is just so easy and they can save you time and money.
Insurance
Insurance is one of those things that we simply have to purchase and for my insurance, I always shop online. There are many different types of insurance, from auto insurance to home insurance, and I’ve found that it’s always cheaper online rather than in-store.
Very similar to when comparing the prices of flights, you don’t really want to do the same search for insurance on every provider website or in every providers store, so you can use an insurance comparison website. However, don’t just check on one insurance comparison website, check two or three as one may have an exclusive deal that the other doesn’t offer.
DVD’s and CD’s
Whether you’re interested in purchasing CD’s or DVD’s, it doesn’t really matter which format, prices always seem to be cheaper online, I can’t remember the last time I bought one in a store. If you see a commercial or you see a film or CD when out shopping that you would like to purchase, then my advice would be to wait until you get home and check the major retailers online. Companies like Amazon and Play offer fantastic discounts on this sort of media, as again, they have very low expenses.
Another way to save money on DVD’s and CD’s is to check some dedicated pricing websites that compare the prices of all the major retailers for you. DVDpricesearch is a website that does this very well.
I hope this article has helped some people realise how much discount is available if you simple purchase online rather than in-store.
Shopping online

Shopping online

Prices can differ substantially depending on if you purchase a product or service online or in-store. In my opinion online retailers tend to be cheaper, and I think the main reason for this is that they obviously have lower overheads. So with regards to saving money, whether it be to build up your money in your ISA account, or whether your saving for something special, I thought I’d detail 3 things that I think should always be purchased online, and here they are.

Flights

There are so many options available online when it comes to flights and holidays, it makes it so easy to find a really good deal. I always purchase my holidays or flights online and most of the time I use holiday comparison sites, as they do all the hard work for you. I think that the day of the travel agent is basically over, I can’t remember the last time I went to one if I’m honest!

If you use a holiday comparison site, once you tell the website where you want to go and how long for, it will display a list of results that you can choose from. Comparing this with in-store, travel agents basically just do the same thing, unless they have any exclusive offers. Using travel comparison sites is just so easy and they can save you time and money.

Insurance

Insurance is one of those things that we simply have to purchase and for my insurance, I always shop online. There are many different types of insurance, from auto insurance to home insurance, and I’ve found that it’s always cheaper online rather than in-store.

Very similar to when comparing the prices of flights, you don’t really want to do the same search for insurance on every provider website or in every providers store, so you can use an insurance comparison website. However, don’t just check on one insurance comparison website, check two or three as one may have an exclusive deal that the other doesn’t offer.

DVD’s and CD’s

Whether you’re interested in purchasing CD’s or DVD’s, it doesn’t really matter which format, prices always seem to be cheaper online, I can’t remember the last time I bought one in a store. If you see a commercial or you see a film or CD when out shopping that you would like to purchase, then my advice would be to wait until you get home and check the major retailers online. Companies like Amazon and Play offer fantastic discounts on this sort of media, as again, they have very low expenses.

Another way to save money on DVD’s and CD’s is to check some dedicated pricing websites that compare the prices of all the major retailers for you. DVDpricesearch is a website that does this very well.

I hope this article has helped some people realise how much discount is available if you simple purchase online rather than in-store.

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