5 thrifty saving tips
Boost your financial know-how with these simple steps to savvy savings
Shop around
Shopping around to get the best deals for smaller items and financial products as well as big spends could save you thousands of pounds each year.
But, according to research from Alliance & Leicester Savings, 62 per cent of Britons do not hunt around for the best prices, with most claiming that they would rather pay extra to avoid the hassle of shopping for the best deal.
'When it came to bigger ticket items like a new car, digital camera or holiday flights, the resounding response was in favour of shopping around, with just a few per cent saying that they wouldn't do so,' says Ross Dalzell, manager for Savings at Alliance & Leicester.
'There's clearly still a mismatch for people when it comes to thinking about spending large amounts of cash in one go and making smaller purchases on a regular basis.'
For example, even though average broadband prices have dropped 36 per cent over the last four years to their lowest level, five million households are paying more than the going rate for their broadband, wasting on average £120 a year, according to research from uSwitch.com.
'Plan your spending and never shop on impulse,' says Tom Butler-Bowdon, award-winning author of personal finance book 50 Prosperity Classics. 'Generally, the longer you plan for a purchase the more you will save.'
Shopping around doesn't need to be time consuming. Just type the name of the product into an internet search engine like www.kelkoo.co.uk. Do make sure that you get the best deal, rather than the best price. There's no point in buying a cheap item that doesn't meet all your needs.
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