We all lead hectic lives and it’s easy to put off life laundry like sorting out your finances. Initially it might sound like the last thing you want to be doing on holiday but spending 30 minutes getting on top of things could save you hundreds of pounds. Here are seven super quick things you can do to save money poolside.
1) Set yourself a monthly budget
A budget can go a long way to cutting down what you spend on non-essentials, leaving you with more money for future holidays!
First off write down all your regular monthly outgoings and incomings each month. Then think about how much you can afford to spend on events like birthdays, Christmas, holidays, weddings and festivals. Then add the things you can’t always plan for like needing a filling, new glasses, parking fines or car trouble. Work out the months you’re going to need extra budget allocated and the months you can put more aside.
This will help you plan in advance and if you know you’ve got a special occasion coming up you’ll know to be extra frugal in the months previous.
2) Be the brains behind your broadband
You can shop for a better broadband deal online by the pool in just a few minutes.
It’s easy, all you need is your postcode and a rough idea of how much time you spend surfing. If you haven’t switched in years, chances are you’re missing out on a better deal.
3) Get familiar with your credit report
Services like Noddle and Clearscore mean you can check your credit report for free. It’s quick and simple to sign up, you just need to answer a few questions about your finances to get it up and running.
You need to make sure there isn’t any incorrect info on there because it could affect you being able to obtain credit in the future. Here’s what you need to be checking for.
4) Bank account causing you to lose out?
If you are one of the millions of Brits who hasn’t changed your current account in the last ten years you’re missing out.
If you pay in large amounts each month and rarely use an overdraft look for accounts that reward you with cashback or interest on your balance. If you’re overdrawn, consider switching to an account that will give you an interest free overdraft.
5) Are your energy bills a drain on your finances?
It literally takes minutes to switch energy suppliers – they do all the hard work for you and you won’t be cut off in the process. If you’ve never done this, you could save yourself hundreds of pounds.
6) Moved, changed jobs or got married recently?
If you’ve recently moved house, got married or you’ve changed jobs the list of people you need to notify can be daunting. Here’s our moving house checklist which will help to remind you of everyone you need to keep informed.
It’s a tedious task but an important one because if you don’t keep your insurance companies up to date your policy could be invalid.
7) Stock take your direct debits
Small direct debits are easily overlooked. Note down all your direct debits and ask yourself do I use it and is it worth it – they can really add up.
Here’s a list of the most commonly overlooked bills.
- Gym memberships
- Appliance cover
- Online magazine subscriptions
- Dating sites
- Online music streaming services like Spotify & Apple Music
- TV subscriptions services like Sky & Netflix
- Extra storage for email services and iCloud
- Unused club memberships like golf or tennis
- Insurance for items you no longer have