Money Tips 50 ways to save small money

There could be plenty of ways of saving money. Some of the important ways have been enumerated here:

A) Minimal Use of Credit Cards

These days, a large number of credit card holders are indebted with huge amounts and in order to become debt free, they will need several years’ time, even if they keep making a minimum monthly repayment of £100.

However, if you do not want to be counted amongst them, it will be a judicious move to start making good savings on your regular spending to be able to clear off your debt much before time.

B) Careful Selection of Mortgage

If you are planning to buy a house and cannot afford to make cash payments, choose only the best available finance option in the industry.

Try your best to make overpayments on your mortgage to clear your debt much earlier than the stipulated mortgage period, with significant savings on your interest payments.

Comparing is the key when looking for a Mortgage, never chose the first option, instead evaluate and compare different banks and financial institutions.

C) Off-load the heaviest ones first

Most importantly, clear off your most expensive debts first, such as your a mortgage rate and other debts that involve higher interest rates. Never take a high-cost loan to repay another loan, especially when you cannot afford to repay.

D) Do take care of your monthly bills

Supply of tap water is another crucial matter we often overlook. Having had stored water or installed a water meter, you could almost half your annual bill.

Select the cheapest, viable telephone dial-up services to save on your phone bills. Buy a mobile phone only if you think it is important and stay away from additional services (internet contract for mobiles) if they are not necessary.

E) Controlling your shopping over-indulgence

Make a proper shopping list before going to the supermarket. Use your local market stores for food and save on the hugely-priced food items.

Try not to become choosy about brands on every item. Do not be so finicky about buying only designer labels.

If you have some clothes or accessories completely unutilized at home, why not sell them on eBay and earn yourself some extra cash.

Use your creative talent to earn extra money on a part-time or full-time basis.

F) Being more skillful will always pay

Join some courses to improve your skills and use them to say, handle household repairs.

You would definitely not need to enroll for a car insurance policy unless you drive or have a vehicle to run. The internet can give you cheap insurance policy options within minutes of searching.

G) Some tips for small savings

Other alternatives of saving money may include:

  • booking airline tickets early for low fares
  • booking holiday packages online on your own to avoid paying for the agents
  • avoid over-spending, buying concession tickets for the theatre or theme parks
  • walking or cycling down to work
  • cutting down on your drinking and smoking
  • avoiding gym sessions and instead exercising at home
  • shopping items on discount, and so on.

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