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Property Buyers - Code of Practice

Spring Clean Your Finances

Spring is upon us and so far we have been blessed with sunnier longer days and a few early barbeques here and there. Spring is an excellent time of year to spring clean your finances and according to Lloyds Bank, one in three Britons are reviewing their finances to make their money stretch that little bit further. Whether you want to escape to the sun, build a new extension or even move house, there are a million and one ways to save a little bit of money to leave you worry free.
The most efficient way to begin is to compile a list of your finances and assess what can be done to save money by checking all the nooks and crannies for the best deal. Making a list of providers and compare the best deals which will ensure you get the most out of what you are looking for so here a few ways to clean up your finances.

 

Shrink your debts

Be brutal when it comes down to the nitty gritty. Try and clear your debts, overdraft, credit or store cards as much as possible. Prioritise what is important to clear as quickly as possible and alternatively consolidate them into a low-cost personal loan.

 

Car insurance

Everyone knows shopping around for the best deal for car insurance is the norm. How you pay your premium can also make a difference as insurers charge APRs of up to 25% if you pay your premium in monthly instalments which add significantly to the overall cost. If possible, pay your full premium up front to prevent such costs.

 

Shop around

Supermarket shopping is one of the easiest ways to shrink spending and save money on a monthly basis. Your weekly shopping basket can be split across different supermarkets, depending on the best deals. If you regularly shop at one particular supermarket, join its loyalty scheme to benefit in the long term. When buying fresh food, try and find the furthest sell by date and even go a step further by visiting before closing to snatch up a good offer.

 

New phone, new tariff

If you are paying over the odds for your mobile phone contract, then it’s time to negotiate with your current provider or shop around for a better monthly package. If you are exceeding your call, text and web usage, it may be worth finding a provider who can offer an unlimited usage. Many customers are now looking to companies such as Giffgaff who offer a sim card only package.

 

Earn interest

If you have a current account but not earning much interest then you may consider switching current accounts to one of many new high-interest current accounts. The most popular current accounts are Club Lloyds, Nationwide FlexDirect, Santander 123 and TSB Classic Plus who will pay up to 5% in interest. With any account, make sure you read the terms and conditions to make sure you are saving more money than losing.
There are many other ways to spring clean your finances to save money for a rainy day and these can be also be achieved through a car boot sale, setting up an eBay account to sell old items and taking a look at your own personal spending.
As with any checklist, tackle each problem one at a time and you will soon see a major difference in your monthly spending!

 

 

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