Buying a new home and preparing for Christmas are two exciting occasions that can put a dent in your bank account if you’re not careful. Purchasing a home can often incur unexpected costs once you add up a deposit, legal fees, survey and land and buildings transaction tax, and at this festive time of year it is wise to keep your finances stable.
There is merit in the old adage ‘look after the pennies and the pounds will look after themselves’ so for today’s Tuesday Tips we are looking at some simple ways you can cut your monthly outgoings and make buying a new home as stress-free as possible.
- Do you treat yourself to a hot beverage from the coffee shop on your way to work? Let’s say that drink is £3 and you buy five a week – that is £60 a month, or £720 a year, of potential savings. Definitely worth considering making that morning coffee at home!
- Similarly, bring yourself back to your school days and make yourself a packed lunch. It will prevent you from being tempted by those pricey delis and save precious pennies.
- If you are in a position to take public transport to work instead of the car, look into the price of a season rail or bus ticket. You might just find it is substantially cheaper than the monthly cost of fuel, with the added bonus of avoiding traffic related stress!
- If you do have to take the car, make it as economical as possible. Why not look into car sharing with a colleague who lives nearby, taking it in turns to drive?
- Alternatively, if car sharing isn’t an option, make use of cards offered by many supermarket petrol stations which reward you with points which can be redeemed against your groceries.
- Look into switching energy, mobile phone or internet providers – not only do many companies have incentives for new customers, your current provider might be willing to do you a deal to keep you.
- Many bank accounts nowadays offer brilliant benefits from cash incentives for opening a new current account to providing travel insurance, breakdown cover and mobile phone insurance. Do your research and find the one that would best suit your needs.
- Being thrifty doesn’t have to mean abandoning your social life. Be smart with your nights out or lunches with friends by checking out voucher websites to identify the best deals in your local area.
- We all have certain well-known food brands we like and trust, but challenge yourself to do your weekly shop buying only own-brand products as much as possible. You might find there isn’t much difference in taste, but there will be a big difference in your wallet!
- Finally, there is a multitude of price comparison websites out there which can show you the best deals on the market for everything from energy and car cover to holidays and pet insurance. Take advantage of these to make sure you’re getting the best price possible.