We could all do with a little extra in our pockets and the cost of living always seems to be on the up. Below are some ways that you can immediately reduce your living expenses. Plus you can also make a difference to your community by asking the Government to step into the PPI debate and put unclaimed money into the community rather than the banks pockets.
The reality is that paying cash hurts. It is real money, and it hurts more to shell out £5 for your morning coffee and pastry then to swipe a card. You will have a better idea of what you are spending and you will be more likely to spend less.
It is easier to spend money when you pay with a credit card. You can easily spend too much money without realising it. Even if you try to pay it off each month before interest accrues, any unexpected expense can put you behind on your payments and you will be forced to pay fees. Unless you simply use your card for diesel or other necessities, it is better to leave the credit card in the cupboard. They do have a place for building up credit scores but only if you pay off in full every month.
Make a budget
Simply having a plan for every pound that you earn and save can help you to save money. Once you see where your money is going, you can identify leaks and sinkholes. The £3 coffee drink that doesn’t seem like much becomes £60 a month. You can also use a budget to save up for bigger and better things such as a house, boat, or car.
The same box of cereal can be much cheaper at one supermarket than another. The same pair of jeans will be cheaper in the sales or at an outlet store. If you know exactly what you are looking for, discount codes can be gold mines for bargain buys. If you can wait, charity shops are a great place to buy name brand jeans for £5-10.
These are just some basic tips to help you on the road to saving money. With a little bit of self-restraint, there isn’t any reason why you can’t drastically reduce your spending and start putting money away in savings for a rainy day.
Check you are not owed money
Make sure that you have claimed back any PPI that you could be due. Did you know that there is a deadline set of August to claim back? Many have not claimed yet and it is expected that many won’t claim as they are unaware they paid. The issue after August is what happens to this money?
How you can help your community
£35 billion has been set aside by the banks, with potentially billions to go unclaimed when the deadline passes; this money could be used to help fund public services such as the NHS, education, and the fight against homelessness which are all seriously underfunded at present. I We Are Big Rock are petitioning the government to levy a 100% tax on all unclaimed PPI money once the deadline for claims passes in August. Did you know based on the salary of a nurse the PPI could pay 1.2 million nurses wages for a year. Or the unclaimed PPI money could put 1.3 million undergraduates through their degree course without costing the students £30,000 course fees!
To petition the Government to do this please sign up and show them this is what the people want! Sign the petition here.