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10 tips on saving and making more money
Money has become a big problem for many households over recent months, as the effects of rising living costs and bills continue to take their toll. It is essential for most people to try and cut back on the amount that they pay out or increase the amount that comes in so that financial management becomes easier.
In fact, you could enjoy even greater benefits by both cutting back on your outgoings and increasing your income, and below are some tips that could help you to do this:
1. Get rid of unwanted items in the home. We are all guilty of having loads of clutter, most of it unwanted, in the home, and some have more than others. However, as the old saying goes one man's junk is another man's treasure, and you could find that you are able to sell the items and bring in some cash. You can do this via eBay or at a car boot sale, and you could be surprised at how much this brings in.
2. Earn money using your talents. If you are blessed with a particular talent, such as playing a musical instrument, art, computer repair knowledge, etc. you could use this to bring in extra money. Carry out computer repairs in your spare time, offer your artistic skills to create paintings for people, or start teaching others how to play the musical instrument that you play.
3. Brush up on your DIY skills. It is amazing how many things need doing around the house each week, and many people spend a fortune each year on getting these jobs done. However, by learning about DIY or even taking a course at your local college you could save on the cost of having to get someone else to carry out many of these repairs.
4. Avoid trying to keep up with your friends and neighbours. You will be surprised at how many people end up spending a fortune just to keep up with their friends and neighbours. If this is something that you have done then you need to adopt a new attitude and basically stop buying things that you cannot really afford just because someone else has it.
5. Change your vehicle. If you have a high spec, high cost vehicle that has already cost you a fortune and continues to cost you big bucks in terms of insurance, petrol, and maintenance costs, then it may be worth downgrading. You could sell the car, use the money to buy a cheaper car, and save money on the cost of your insurance and petrol. A car with a CO2 emission of say 99g/km currently qualifies for £0.00 a year rod tax, and from 27th October 2008, it will be exempt from the London congestion charge. You may be surprised what cars come into this class; it does not mean you would have to drive a miniature car, some 1.4TDI's fall in this bracket of vehicle.
6. Get on your bike. Unless getting to work involves a two hour drive on the motorway you could save a fortune and get fit by getting a bike and riding it to work instead of using the car. You could save a fortune in petrol, plus enjoy the healthy and environmental benefits. These days you can even get a part petal / part motorised bike, so you can get around without having to pedal id you wish / arriving at work in need of a shower!
7. Reduce the amount that you drink. You can cut back on your outgoings by reducing the amount that you drink, and again this can also aid your health. If you tend to drink at pubs a lot, try and cut back on how often you go as well as on the amount that you drink. Also, if you tend to drink at home cut back on the amount that you buy and consume, as buying lots of booze can soon bump the shopping bill up.
8. Give up cigarettes. Let's face it these things are not only potentially deadly but they cost a fortune. You will save a huge sum of money by cutting out smoking, and it should also work wonders for your health. Work out how much you spend on cigarettes each year, and think of what else you could spend the money on!
9. Use the library more. Although it is nice to build up a collection of books it is also worth considering the great choice that is available in the local library. You don’t have to go out and purchase every book you want to read – pop to the library and borrow it for free.
10. Don't go overboard with the lottery. Of course, we all dream of winning the lottery and we have to be in it to win it. However, do bear in mind that the chances of winning are extremely remote, and whilst there is nothing wrong in putting on a line or two each week you should avoid getting carried away and shelling out four or five pounds every time one of the three lottery days comes around.
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