Money saving tips for mums that save time
Know where your money is going
If you want to start on a money management or money saving programme the first thing you need to do is find how you spend your hard earned cash.
Keep track of the money in your purse – are you frittering it on things you don’t really need or want? Before you buy anything Ask yourself -do you really need it.
Go through your bank statement to check on your monthly outgoings. Know your fixed monthly outgoings like your rent or mortgage, council tax and utility bills. Sign up to one of the many apps that are available to help you manage your finances on your smart phone
Avoid having store and credit cards
Don’t use store cards unless you can pay them off every month and you certainly should avoid using them to fund day to day living.
Some store cards charge up to 30% interest which will mean you are paying £30 for every £100 you spend. Credit cards should also only be used when you can pay off the card every month as you will be paying a great deal of money out in interest.
Set up direct debits to pay your household bills
If you haven’t already set up direct debits to pay your household bills, not only will save you time but money as well, as you will receive around 10% discount for prompt payment.
Are you paying for the same thing twice?
Don’t pay twice for the same thing. For example your mobile phone maybe covered on your household insurance. Check your policies to find out.
Use the internet to research for best prices
Check out money saving websites like Martin Lewis website the Money Saving Expert.
Track down discount vouchers before going shopping.
Save money on petrol by checking for the cheapest filling station in your area at www.petrolpricescom. Before you renew your insurance, or credit cards check money saving websites like www.confused.com.
Check out when and where to shop for the best daily deals
Discover where the high street giants sell off their end of line stock and customer returns. Tesco’s has an outlet shop via EBay. Ebay Tesco outlet
Head to the supermarket later in the day as this is when you will find bargains on foods near their sell by date. This is a great way to stock up the freezer. But don’t buy stuff you are not sure you will use.
Don’t be a marketing mans dream
Shop with a shopping list. Avoid buying things on special offer or on the spur of the moment unless you know you will use them. Buy own label brands whenever possible.