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4 Quick Ways To Save That Are Often Overlooked

June 26th, 2021 Posted in Money Tips
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Are you thinking about ways to save money in your budget? You might think that this is going to take a lot of work, sifting through your personal finances. But the reality is that it’s probably easier to save money than you might realize. Here are some of the key options that you shouldn’t overlook and that could make a big difference. It could mean you’ll have more money to spend each month on little luxuries as well as things you need. 

4 Quick Ways To Save That Are Often Overlooked - coin and piggy bank image
Photo by maitree rimthong from Pexels

Don’t Buy New 

First, you need to make sure that you are avoiding buying new if you can help it, particularly for expensive items. Most items that are expensive will absolutely obliterate your saving options because of the high level of depreciation. A classic example would be a car. If you buy a car, it’s important to know that cars depreciate the most in the first three years after they are purchased. That’s why it’s so much better to look at used cars. You just need to make sure that you check out used cars and ensure that there are no expensive issues lurking underneath the surface that could cost you more in the long term. Remember, you can take anyone you want with you when checking out a car including a trained expert. 

Go Green Where You Can 

You might also want to think about going green with your lifestyle choices. If you cut down the costs of your energy usage, then you’ll be surprised by how much you can save each month and even year. There are lots of ways to go green. For instance, we mentioned cars so you could think about buying a hybrid. Or, you might want to just make smaller changes around your home such as LED lights. These use a fraction of the energy compared to the typical lights in your home. 

Workout For Free 

There are certain things that we tend to pay for and there’s really no need. We can get the same benefits for free. One example worth exploring here would be the bill that you pay for your gym membership. While this might not seem that expensive, this is money that you could spend on other things or even just save. Instead of heading to the gym you could work out at home. All you need is an app that will show you the workouts you can complete without any equipment at all. 

Set Your Budget

Finally, you might want to think about setting your budget. It’s easy to forget this step but if you set your budget then you’ll be able to keep track of your savings and ensure that you are meeting your financial goals. 

Setting your budget just requires you to add up all your income options and then take off any bills that you have through the month. The amount you have leftover is the amount that you can spend on whatever you want. If this isn’t as much as you hoped, then it’s important to think about a side hustle choice. 

4 Quick Ways To Save That Are Often Overlooked - a fan of 100 dollar bills image
Photo by Alexander Mils from Pexels
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Save Money When Selling Your Home

May 12th, 2021 Posted in Property Investment
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Most people, when selling their homes, are so focused on the money they are (hopefully) about to make, that they spend very little time thinking about all of the costs associated with doing so, and how they may be able to save a little money there.

Selling a house can be an expensive business, but if you’re sensible, you can make some serious savings.

Choose your estate agent wisely

Probably, the biggest way to save money when you are selling your home is to choose a great estate agent like Jordan & Halstead, for example, who are very affordable in your local area, as well as being good at their jobs, so that they can maximize the price you get for your home. 

That’s why you should take your time to check out local estate agents before making a choice, instead of just going with the first one you find. A lot of estate agents will tell you exactly what you want to hear and promise you things that just aren’t possible, all while charging a premium, If it sounds too good to be true, it probably is; find the sweet spot where price and reputation meet and stick with that.

How to save money selling your home image white and brown concrete bungalow under clear blue sky
Photo by Pixabay on Pexels.com

Don’t do too much work

Many homeowners will try to maximise the return on their homes by renovating them before selling. Sometimes, this can work well because things like a new kitchen can add value to your home, but the thing is, this doesn’t always work, and unless you know what you are doing and have totally studied the local market, you probably shouldn’t make more than a few cosmetic changes and necessary DIY jobs. If you do what to carry out a bigger renovation, research how much value it is likely to add to your home, and if that figure is less than the cost, don’t get the work done.

Keep your emotions in check

So many homeowners have settled for a lower price simply because their emotions have gotten the better of them and they haven’t wanted to sell to a particular buyer, perhaps because they feel like they won’t look after the home or that the home is not right for them, and although this is totally understandable, it is not very sensible. If you get a good offer, not taking it is only going to cost you money in terms of the extra time and effort that will have to go into finding another buyer, not to mention the fact there’s no guarantee you will get a similarly large offer next time. Selling your home is a financial transaction and the more you can remind yourself of that the better.

Saving money when selling your home can be difficult because there are many costs that cannot be avoided, but it is, as you can see, still possible to cut costs and maximise your returns here and there. Stay calm, look fairly at the finances and don’t be too rash during the process and there’s every chance you’ll save.

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4 Smart Ways To Save Money You Haven’t Considered

August 20th, 2020 Posted in Money Tips
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Are you looking for new smart ways to save money? There are lots of possibilities to consider here and many of these options will help ensure that you have more money to spend in other areas of your life. 

4 Smart Ways To Save Money You Haven’t Considered - saving money coins image

Lease Rather Than Buy 

You might think that it’s cheaper to buy a car rather than to lease, but we’re not so sure. Honda contract hire offers and similar possibilities are available at rates that make them far more affordable than shelling out thousands for a new vehicle. Another key benefit is that you won’t have to worry about being stuck with a car for years. Instead, you can make sure that you end the lease whenever you want and select a new vehicle. So, essentially, you have more control over the cars that you choose. You also don’t need to worry about the issue of buying a car that will depreciate rapidly in value. 

Use A Financial Planner 

Something that you should think about doing is using a financial planner. These experts will make sure that your finances are always in order so you don’t have to panic about the state of your finances. What these people do is work out a plan that uses how much money you bring into the household as well as how much money goes out. From there, they will create a financial plan on how you can best save money, and spend it without getting yourself into debt. They can look at moving any loans, credit cards or mortgage to one with a better interest rate which could save you money every month. They will also be able to find where you are overspending, and help you come up with a way to avoid this in future. As such, your finances are going to be in much better shape!

Set Up Savings Accounts 

It’s also worth thinking about setting up savings accounts for you and your family. Savings accounts are great because your money works for you and it will give a hands-free approach to growing your funds. This is something that is worth exploring if you are planning on setting up a college fund for your kids. You might also want to consider this option if you’re saving for a house. It can be a great way to add a little extra money onto your deposit savings. 

Go Green 

Finally, you should think about going green at home and in your personal life. There are numerous ways to do this. For instance, you could think about investing in new technology. The benefit of this is that you will be improving your quality of living and save money at the same time. Each time a new piece of tech comes out on the market it always reaches a higher standard in terms of energy saving. So, it’s definitely worth upgrading. Of course, you can also think bigger and decide to add solar panels to your property. While these used to be expensive, they are now affordable for the typical family home and are well worth considering. 

We hope that you have found this article helpful, and now know 4 smart ways to save money that you haven’t considered. Put this advice into practice, and you’re going to find yourself having more money leftover than ever before.

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The Benefits Of Buying Second Hand

January 31st, 2020 Posted in Money Tips
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Purchasing second hand items can have a lot of benefits to you and the environment. People sometimes have reservations about buying things second hand and would prefer to purchase brand new. There are sometimes risks involved, but with a bit of time spent researching, you could end up with a good deal. As buying second hand becomes an option that more and more people choose, let’s look at some of the benefits of purchasing your items second hand:

The Benefits Of Buying Second Hand - rustic handmade second hand sign
Pixabay

You can save money

The price of a product is a big thing that we consider when we are buying something. The value of something that you purchase brand new depreciates quite quickly as more and more newer things are made. This means that you can when you buy second hand, the items you want can be significantly cheaper. Sometimes you can even find better quality items that you wouldn’t have been able to afford new because they cost somebody else a lot more money for the first time around. 

If you are starting a business, you can reduce your start-up costs by finding the items second hand. If you like to buy clothes, but want to save money, purchasing preloved clothes will allow you to still buy clothes, just with a smaller price tag.

It is better for the environment

Climate change is an issue at the forefront of everyone’s mind, and buying items second hand is a great way to do your bit to help the environment. Buying second hand is an excellent way to purchase items that would have otherwise been thrown away and ended up in landfills. 

Buying new items can also be harmful to the environment because of the processes that they have to go through. A lot of energy and materials are used when manufacturing, transporting, and packaging new items. Many of the items and packaging that is produced will end up in landfill as they cannot be recycled. The amount of waste that is produced is astonishing, and there is an unnecessary amount of products produced. Shopping for something second hand, will help to reduce the demand for new items and eventually reduce the production of new things.

You can get quality items

Just because an item is second-hand doesn’t mean that it isn’t excellent quality. In fact, you may end up purchasing something that is better quality than you could have afforded new. That is because once an item is used, it will no longer sell at the same price that it was bought for brand new, it will always be cheaper. If you buy your items from reputable places, like charity shops, you will be able to guarantee that the thing will work because they will usually test and clean them before selling them. There is even the option to buy things from auction houses or online. 

Buying a car second hand from somewhere like Wolverhampton Used Cars will allow you to buy a reliable vehicle that has been checked. To ensure it stays in good condition, you will have to keep up with maintenance and repairs. As long as you are willing to look after an item, instead of throwing it away at the first sign of a problem, you will have something that could last you years.

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Getting On Top Of Your Personal Finances

November 18th, 2019 Posted in Money Tips
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Have you looked at your bank balance recently and been hit with a sense of sheer panic? You are probably not alone, money worries are unfortunately all too common. It often seems that money just flies out just as quickly as it comes in. 

Living hand-to-mouth is no kind of existence, and if you are worried about spiraling debts and the fact that you may not be able to pay the bills at the end of the month, then it is time to give your finances a review and take back control of them. 

Getting On Top Of Your Personal Finances - growing money jar debts image
Image by Nattanan Kanchanaprat from Pixabay

Examine Your Current Expenditure

You may turn a blind eye to the money that goes out of your bank account each month. Sometimes it is easier to ignore it and hope that it sorts itself out. Sadly, this is not something that is likely to happen, and you need to take control of the situation before it consumes you. 

Sit down with your bank statements and work out all of your regular outgoings. List them all and then prioritize them based on the type of outgoing that it is. High priorities will include things like your rent or mortgage payments. Any debts that you owe should also be high on your agenda. 

Lower down the list should be the things that you could do without. So this may include your subscriptions to the gym, or streaming services like Spotify, or Netflix. 

Then you need to work out what you spend each month on food and transport and create a monthly maximum spend for these areas. 

If you find that your outgoings don’t match up with your income you will need to make cutbacks The low priority luxuries should be the first thing to go. 

Switch Your Services

Very often, you may find that you are paying out too much for some of the services that you have. Things like car insurances can creep up every year, so it is important to shop around for a new quote and change your provider.

Similarly, your utility providers will also tend to up their prices without you really noticing. When it comes to your gas, electric, phone, and broadband bills, you may be able to save yourself some money by shopping around and switching to new providers. You should realistically aim to do this every year to keep on top of the best deals. 

Consolidate All Of Your Debts

If you have multiple debts across a number of different companies, you will be paying out several lots of interest. Having several credit cards and loans can mean that you are constantly juggling your debt and you may not really be reducing the overall size of it. 

You should aim to consolidate all of your debt into one single loan, with an affordable monthly repayment. Work out the shortest length of time that you can affordably pay off all of your debt in, and then make sure that you cancel your credit cards once the balance is cleared by the loan. 

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