10 ways to save in the new year
Freeze
As nearly half of families (42.4%) will have to cut back on food shopping to cope with the impact of Christmas, don’t forget simple ways to reduce your spending.
Simple steps like buying frozen foods can make an impact. Many packs of frozen vegetables can be cheaper than the norm and whilst still retaining their vitamins and taste.
Figures based on research from O2 which reveals the true extent of Christmas debt accrued by 3.25 million families in Britain and shows that the amount they overspent in 2011 equates to a staggering £463 million. The debt paid for on credit cards, was accrued mainly by overspending on presents for loved ones and will take the average UK family 45 days to pay back...
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Switch ultility providers
Cut your utility costs by switching gas and electricity. Try Energyhelpline.co.uk for the cheapest deal.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
A Christmas kitty
Why not set up a special ‘Christmas savings account’ to encourage you to save throughout the year. Many banks offer them or you could just open up any account you like and call it your Christmas account.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Don't jump into a loan
Just 1.3% will look for a bank loan to pay off their Christmas debt. Remember, if your credit rating is very good you could simply switch your debt to a 0% balance transfer deal – there are some great offers out there. That would be particularly good for the 6.8% surveyed who expect to take more than 12 months to pay off their Christmas debt!
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Have fun with discounts
Make the most of discount vouchers and offers when going out with your family and friends this year. There are lots of different offers and deals out there, for example O2 Priority Moments, which is a free application to download for O2 customers that have a smartphone or internet-enabled phone. Offers include £5 off when you spend £25 at BHS, two courses for £12 at Bella Italia or Cafe Rouge and eat, drink and bowl for £9.95 at Hollywood Bowl. Visit O2.co.uk/prioritymoments for full details.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Paid surveys
Get into online surveys such as Panelbase.co.uk so that you can make money at your computer.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Train for cheap
For cheap train travel, sign up to the train operators’ websites to get really good offers sent to your inbox. Southernrailway.co.uk, for example, has had ‘sale days’ where they give discounts of 90%. They also offer a total moneyback guarantee if you don’t use a ticket you have bought online.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Get swapping
Swap things you don’t want with friends, family and neighbours. Have a swap shop every now and then where you swap clothes, accessories, toys and more with each other. It’s a great way to get rid of things you no longer use.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Share parking
Rent out your parking space if you don’t use it. Put it on Parkatmyhouse.com or Parklet.co.uk. Also get into lift-sharing to save petrol. Join Nationalcarshare.co.uk or Liftshare.co.uk.
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
Get expert advice
11.7% of UK families surveyed think that it will be difficult to pay for everything they need to in January. If the situation is so bad you’re considering taking out a payday loan to help pay for day-to-day bills then this is a warning sign that you need help. Face your debt situation.
If it’s too much to bear, go to a debt-busting charity like the CCCS, CAB or National Debtline to get help and advice. Don’t suffer in silence and certainly don’t ignore it. If you don’t deal with it immediately it will get worse very quickly.
Figures based on research from O2 which reveals the true extent of Christmas debt accrued by 3.25 million families in Britain and shows that the amount they overspent in 2011 equates to a staggering £463 million. The debt paid for on credit cards, was accrued mainly by overspending on presents for loved ones and will take the average UK family 45 days to pay back...
- Get finance advice in Clare Francis's blog
- Top 10 apps that will save you cash
- 10 tips for cut-price travel
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