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.

You, me and debris

Photo credit: Michelle Arseneault/Wikipedia

When I’m not writing for Liberti magazine, I spend a lot of my time mustering up financial news and blogs. I often find myself compiling helpful money-saving guides; well, at least, I hope they’re helpful.

Although these often relate to switching bank accounts or getting the right type of life insurance, a common theme throughout is cutting back on waste. There are so many ways to squander money and resources, and even though I should know better, I’m probably the worst culprit of all!

So here are my three Cs to help us keep on top of our waste, both financial and otherwise (in ascending order of importance).

Cancel old Direct Debits

Statistics show 40% of Direct Debit customers don't know how much cash leaves their account via Direct Debit each month. Many of us have experienced that painful pang when we realise a payment we should have cancelled months ago is still coming out. With online banking available to all of us, it’s our responsibility to know exactly what’s coming into and leaving our accounts. Staying on top of this will also help to ensure your account isn’t being used fraudulently.

Cut energy costs

UK households throw £1.4 billion down the drain each year simply by wasting energy. There are so many ways to cut back on energy usage without even noticing the difference. Did you know that using energy-saving light bulbs could save you up to £40 during the life of the bulb? And that turning your thermostat down by just 1% could save you 10% on your annual heating bill?

Other simple energy-saving measures include:

• Turning electrical appliances off rather than leaving them on standby
• Confining heating to the rooms you spend most time in
• Only boiling as much water as you need each time you make a hot drink
• Taking showers rather than baths
• Turning the temperature on your washing machine down to 30^oC

Control your buying habits

I personally feel a sense of achievement every time I put something in the recycling; particularly if I’ve gone to the trouble of rinsing or dismembering it in some way. Don’t panic, I’m not going to tell you to stop recycling or reusing items, but I am going to suggest an even better solution: not buying as much in the first place.

I was brought up to clean my plate each and every mealtime; my brother and I were well aware that there would be no pudding until we’d finished our dinner. Although I still do this as much as possible now, I continue to find myself throwing some food away every week. When will I learn that I’m not going to get through a kilo of grapes in a week? Why do I still fall for the multi-buy offers when I know it’s both false economy and wasteful?

And my wastefulness isn’t limited to food consumption. Each time I move house I promise myself I’ll never, ever accumulate so much ‘stuff’ again. But after two years in my current flat I once again find myself climbing over or banging into obstacles and items I simply don’t need: a foot spa, redundant mobile phone chargers and a host of old CDs I’ve never even listened to.

Every now and again I round up all the rubble and have a major cull. There’s no better feeling in the world than turning overflowing cupboards and full-to-the-brim drawers into minimalist vessels of essential goodies. Again I feel that warm fuzzy feeling as I traipse off to the charity shop to kindly bestow my discarded debris upon them.

But as with our financial affairs, the simplest and best approach is to only buy what we need in the first place. Don’t take out credit cards that will encourage you to get into debt and buy even more space hoggers. Don’t buy new versions of items you already have unless you are prepared to redeploy the originals. And definitely don’t buy presents for people this Christmas that will encourage them to follow you into the never-ending wilderness of waste!

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