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Ten money saving tips for all

- ten top money saving tips for all to make some real savings without feeling the cutbacks.

When times are hard, or even when times are good, it is easy to save money by making a few simple changes to the way you live and spend your money. Ways that may be forced upon us when there is not too much money around can be used to make the most of the money we have when times are good and there is more money around. The money saved can be put towards some of the things we really want, or it can be saved for a rainy day. Often a little thought and elementary financial planning can make huge savings.

When money is short, it can be hard to cut back on our life style, so simple ways that do not have a major impact on our style of life, but bring in a real saving in the money spent can be really helpful.

Below we suggest ten simple ways in which you can make a real saving, without having to make any major cutbacks:

1. Review your mortgage:   A house is the most expensive thing most people will ever buy. The mortgage that accompanies it will be one of the largest outgoings each month, so any savings that can be made on this will be relatively large and free up more money for other essentials. Not only can
   
   The deals that are available will vary according to the financial climate, however that does not mean that there are no worthwhile deals available at any time. Time taken shopping around for a good mortgage deal could provide one of the biggest savings you will be able to make.
   
   However it is necessary to look at all aspects of the deal. Consider things like fixed rate deals may not look so good if the lending rates are likely to go up. Also check whether there are any get out clauses, and be aware of any penalties there may be. Also are there any set up charges for the mortgage.
   
   When looking at a new mortgage, read all the small print and check all the additional charges to make sure whether it is really a good deal or not.



2. Pay off your credit card debt:   Credit cards are very convenient ways of paying for goods. Used well, credit cards are very good, but they can also be very costly. The golden rule with credit cards is to pay off the outstanding amount each month. Any amounts not paid off attract a high rate of interest. The annual interest rates may be ten percent or more above many other loans that may be obtained. Therefore if there are any outstanding amounts it may be worth considering paying off the credit card and taking out a lower cost loan. However don't jump into any loan, make sure it is right for you, and read all the small print.



3. Shop around for insurance:   Insurance is needed for many things from house insurance, house contents insurance through to car insurance and many other items. The costs for insurance can vary considerably from one insurer to another as they all assess risks in slightly different ways. Shopping around can provide considerable savings.



4. Use a shopping list:   When visiting supermarkets it is very easy to buy more than you want. It is hardly surprising because the whole atmosphere in a supermarket has been designed to get you to buy things. Offers may be very tempting, and may appear to be excellent value, but if you don't need them or want them they are not a bargain however cheap they may be.
   
   One way to help overcome the problem of buying things you may not want is to use a shopping list. Put on the list the items you need and then try to stick to it. You will be surprised how much money you can save.



5. Consider supermarket own brands:   Supermarkets offer many own brand products. These are almost invariably cheaper than products from well know brands, although always check because sometimes good offers on branded products can make them cheaper. Often the own brand products will be made by different suppliers, so it is worth trying the own brand products to ensure they are satisfactory. When you find things you like, you can buy the own brand versions and save money.



6. Don't buy designer labels:   Designer label cloths look good as they have an exotic label on them. However this comes at a price. If you don't worry about the designer label, then check out similar products from other suppliers - they will be much cheaper. If you do worry about having a designer label, then try to avoid them if you can!



7. Buy your car second hand:   New cars considerable amounts of money, and they depreciate at their most rapid rate in their first year. It is possible to save considerable sums of money by purchasing a second had car - even a year old when a new one is needed. By buying a nearly new car, the advantages of a young car with not too many miles on the clock can be gained without the need to spend the extra required to get it completely new.
   
   Also when buying a nearly new car, many garages offer good warranty deals so there is the assurance that if anything goes wrong it will be fixed. Some manufacturers also operate schemes whereby relatively new cars are sold through a scheme run by the manufacturer. These schemes may also be worth considering.



8. Consider whether you need to buy things:   One really good money saving idea is to always ask whether you actually need a particular item. Often we impulse buy things, and often we don't really need them. If we can curb the impulse to buy things just because there is good offer, or they might come in useful, then we can often save considerable amounts of money.



9. Shop around for the best prices:   As we all know, prices vary considerably from one shop to another. It pays to take a little time to shop around and get the best deal. Also check out the Internet as prices are often (but not always) be much cheaper. However when buying over the Internet make sure that the postage costs do not make the excellent deal over the internet look less attractive.



10. Do some DIY:   There are many jobs around the home for which we may call in a workman. Labour costs can mount up, especially when there is often a minimum call-out charge that will include some travelling time. If it is possible to pick up some of these jobs and do them yourself, then this can provide another cost saving.
    
    However beware not to take on things you cannot do as bringing in someone to fix a job that has gone wrong can cost even more.

Summary

These money saving ideas are by no means the only ideas that can be sued to save money. Some may be applicable, whereas others may not. However these money saving ideas might help spark a few other ideas that help save a little cash that might be used more usefully. By adopting these and other money saving ideas, the money can be used more usefully and even help you be more generous with all the extra money you can save!