20 tips on looking after the pennies
- Turn your thermostat down by one degree and you could save 10% of your energy bills.
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Leave your credit and debit cards at home when you go shopping. Use cash instead.
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Sign up for Cash for a Month.
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Know the worst! Only then can you plan for action. Use the Personal Budget Sheet to work out your monthly or weekly income and expenditure.
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Know what your budget is for shopping, and stick to it. Make a list and use a calculator when shopping.
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Don’t go shopping when you are hungry.
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Recognise the power of impulse buying – make a list before shopping and only spend what you budgeted for.
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Switch off all appliances when not in use. By not leaving them on standby you could save £37 a year.
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Eat fewer convenience foods as they are more expensive than home cooked meals made from scratch.
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You are not alone. Don’t bury your head in the sand if you have debts, get help.
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Always read and check your bank statements.
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Shop around when making major purchases.
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Don’t take out extended warranties.
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Collect loyalty points and check out the best way to get value for money with them.
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Join a local library rather than buy books you only read once.
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Plan ahead when booking train tickets – there are usually cheaper tickets available if you get them early enough.
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Make a point of looking at websites such as www.moneysavingexpert.com and www.thisismoney.co.uk for ideas and information about how to make your money work best for you.
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Do pay your priority debts first – they are the ones that matter the most. Remember to pay THEM FIRST
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Tax (council)
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Hire purchase
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Electricity / gas
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Maintenance and child support
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Fines
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Income tax
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Rent/mortgage
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Second mortgage
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Television licence
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If you spend more than you earn, then sooner than later you’ll be broke.
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If you consistently spend less than you earn, then sooner or later you’ll be financially free.
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