Best deals on your borrowings
It is part and parcel of life that we have to borrow money to buy certain items that catch our fancy in life; buying a house and getting a car are our biggest commitments. So, when shopping for a loan make sure you get the best interest rate. A small amount saved every month will amount to a large amount at the end of the loan period. Ensure that you always double check how much you are paying over the entire duration.
Clear expensive debt first
We are all guilty of purchasing goods that we cannot afford on credit, however, it’s not a bad thing but we need to manage how we purchase items on credit. We recommend that you prioritise the most expensive credit and endeavour to pay it off first.
Cut the cost of fuel bills
Fuel prices are a big drain on our income, car fuel and home fuels including electricity can be cut down by using them wisely. If you can avoid driving the car and if you can walk then do so. At home, switch off all electrical appliances when not in use.
Change your shopping habit
When we go shopping we can easily get carried away and buy things we do not need. The best way to counter this is to create a shopping list and strictly stick to it. This way, you will ensure you get everything you need and avoid buying on impulse!
Avoid designer labels
It can be tempting a times to treat yourself or loved ones by buying designer items, but avoid this as much as possible as you will be paying for the name not the quality. Perhaps, reserve such expensive items for special occasions.
Shop around for cheap home insurance
We highly recommend insuring your home and possessions, but in doing this, make sure you are getting the best deal. In this case, going for the cheapest item may not always be the best – make sure your cover is adequate and you are not left in financial turmoil if the worst were to happen.
When travelling ensure you take out travel insurance, if you are not a frequent traveller avoid annual policies.
Cost of life insurance
Life insurance can be tricky, make sure you insure the correct amount and have filled in all the information accurately. Save money but not over insuring and clearly stating your lifestyle habits, such as being a non-smoker.
Shop at the sales
A great way to save money on clothes and gifts is to shop at the sales. Every store will have them at some point in the year, stock up for your own clothes and maybe pick up presents in advance.
The internet is slowly taking over and people are realising that items online can be a lot cheaper. So before you go out and do your shopping, take your time to check online, you may just be pleasantly surprised by doing so.