Save some pennies and shed some pounds

Just when you thought the worst was over, news of a double-dip recession breaks. But although times are tough, there’s no need to resort to wartime rationing.

By introducing a few simple measures it’s easy to save a few quid, lose a couple of pounds (weight-wise) and do our bit for the environment. 

Here are a few tips to get you started...

1. Travel

If the idea of giving up your car drives you crazy, it might be worth downsizing, joining a carpool or even ‘sharing’ some wheels. It’s better for the environment and could get you on the road to financial recovery.

           

Those who feel brave enough to ditch the motor altogether might consider swapping four wheels for two. Find out if your company is part of the government cycle initiative, which will get you 20% off a bike, helmet and accessories and could even allow you to give up your expensive gym membership. Get fit and shape up your finances at the same time!

2. Banking

Debt should be dealt with as a priority. Consider switching any debt you have to an interest-free, balance transfer credit card. Pay off as much as you can each month, but make sure you at least meet the minimum payment every (on time). Red definitely isn’t the new black!

A cash ISA is a good way to save as it’s tax-free. It may be worth going for a fixed-term, limited-access version so you’re not tempted to cash in your stash. This type of account offers a higher rate of interest than an easy-access ISA.

3. Groceries

Plan your food shop carefully in advance, preferably meal by meal. Then when you get to the supermarket, stick to your detailed shopping list! This will reduce waste and help you to avoid unhealthy, purse-draining impulse buys.

Buy seasonal fruit and vegetables and use leftovers rather than throwing them away. There’s nothing tastier than a bit of bubble and squeak on a Monday night, nom nom.

Taking a packed lunch to work rather than buying a sandwich each day, and try cutting out your posh morning coffee. At the risk of sounding like a granny, a flask is quick to make up and could save you about £10 a week!

4. Bills

Get switched on about your energy bills and shop around to see whether you could get a better deal. Some providers offer discounts if you buy gas and electricity combined, and many reward customers who pay straight away or by direct debit. Visit www.energysavingtrust.org.uk for great energy-saving tips.

Broadband and mobile phone bills can also add up. Compare deals before you sign up and find out whether you could get cashback on a new deal (see sites like Quidco and TopCashback for more information). Some companies offer packaged deals that bundle TV services, broadband, landline and even mobile phone contracts, which may cut costs.

5. Leisure

Take advantage of discount sites such as Groupon, LivingSocial and kgbdeals. They offer a range of cheap days out, restaurant discounts and even cut-price holidays, allowing you to do fun things without breaking the bank.

Avoid buying expensive new clothes, shoes, accessories and electrical items. Why not host an 80s-style swap shop instead? You can rid your wardrobe of items you’ve never worn or are fruitlessly hoping to squeeze into again and hunt down some bargains of your own. Get everyone to bring a plate and a bottle and you’ve got a low-budget, sociable evening sorted.

Remember to...

...Think of ways you can give to the people around you without spending a fortune: offer to mow a neighbour’s lawn, babysit for a friend or do a day’s volunteering. The cost to you will be minimal, but the reward will be eternal.

...Be obedient with your tithe, giving the first 10% of all you earn to God. This may seem like a lot if your budget is tight, but it is something we are called to do – and with glad hearts.

Malachi 3:10 says: “‘Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,’ says the Lord Almighty, ‘and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it.’” 

Read more from Joy in the upcoming issue of Liberti magazine.