The following is a guest post
It’s safe to say that we’ve all been feeling the pinch recently. As the UK struggles to climb out of the economic recession, which first began to make itself known back in 2008, we’re still seeing low wages, reduced lending (and bad lending terms) and a lack of financial support in all areas.
In light of this, people across the UK are investigating new ways to conserve their cash and make ends meet. So if you’re looking to transform your financial situation from silly spender into savvy saver, check out the following five great money saving tips.
- Make a Budget
There’s nothing wiser than making a household budget, so you can see exactly how much money you’ve got coming in and how much is going out. A budget is great for people looking to save, and can even help you pay off your debts.
- Transform Trash into Treasure
Many times, people will simply throw away possessions they don’t need or want. But by doing so, you might be missing out. Instead, get yourself on eBay, or head on down to a pawnbroker such as H&T Pawnbrokers. You might be surprised about how much someone else will pay for your unwanted items.
- Increase Your Cash Flow
If you’re looking for the ultimate way to maximise your cash, there’s nothing better than earning a little extra. Many people make more money by taking on a part time job, or by freelancing during their spare time.
- Save As a Family
These days, most kids would rather have an expensive videogame than a walk in the park. But saving money as a family is only possible when the whole family works together. So learn how to save money as a family by coming up with some great activities together, and teach your kids the value of cash by encouraging them to do odd-jobs in exchange for their pocket money.
- Get Investing
If you have a little money to spare and really want to make it work for you, you may wish to consider investing. A wise investment can possibly be the best way to maximise you cash, and there are some amazing opportunities around. Consider the benefits of a tax-free ISA (up to approx £11,000) or learn about the benefits of stocks and bonds.