January: Money Saving Tips

Happy Friday!

January is always a tough month. Time to pull up our socks and get busy with ideas on how to save our pennies and make them into pounds!

Here are some excellent ways on saving your cash!

1 Bring your own lunch to work.
Yes, it’s a faff. But £5 per day on lunch costs you £1,000 a year. That’s a whole damn ski holiday you could be buying instead.

2 Pay an extra £20 on your mortgage each month.
You could shave two years off a 25-year term and save £4,000 in interest by putting in an extra £20 per month. Pay in an extra £50 for savings of almost £10,000 and to reduce your mortgage term by three years to 22. Bonus.

3 Turn your heating down one degree. 
An oldie, but because it’s true, damn it. Your living room should be 21c; the rest of your house 18c. Going down one degree saves 10 per cent (that’s £80) per year. Put on an extra jumper and have a cup of tea to warm up.
Not too many cups though – or that’ll be your £80 gone.

4 Set alerts for end dates on deals and freebies.
Amazon Prime’s 30-day free trial, Spotify, Netflix, car insurance, mortgage, Sky, mobile phone… they all offer you something for nothing (or for less) for an insultingly short period in the very real hope that you’ll forget to cancel, like most people.
Don’t be like most people.

5 Open all your post and read it.
Those unopened bills won’t go away. They’ll just get bigger. Take a deep breath, pluck up the courage and open them. Then deal with them.

6 Check your bank balance.
If you check yours all the time the thought that the rest of us can’t bear to look might blow your mind. But if you’re a financial ostrich, remember ignoring the reality will only mean you spend more, not less.
Force yourself to look every time you get cash out until it doesn’t seem scary any more.

7 Have a set amount of your salary automatically paid into a separate account.
And don’t touch it. When you get a pay rise, increase the amount that goes in so you’re still living off the smaller amount.
It’s an extension of Parkinson’s Law – your spending will expand to fit the supply of the resource. Buck the trend.

Also, do check out my horse racing Tipping service :)

I give one free tip on most days. A set of 4, Lucky 15, can be delivered to your inbox 5 days a week.

 

Make money and bash the bookies! 

Love and Peace x