"Our ten tips are a painless way to save" - Liz Phillips
London,UK (PRWEB UK) 14 December 2011
During the expensive festive period saving money is harder than usual, so We Know Money has produced ten savings tips to help consumers cut costs.
Liz Phillips, Editor of We Know Money said: "It’s good to get into the habit of saving money whenever you can and whatever your situation. In today’s tough times it could make the difference paying your bills and running up debts. Our ten tips are a painless way to save and our savings accounts tables show consumers where to put your spare cash so you can earn as much as possible on it."
1. Move your store card and credit card debts onto a better deal.
2. Don't go overdrawn without permission: Penalty fees and interest can be a staggering £100 a month for going just a few hundred pounds overdrawn.
3. Work out a budget: Be honest with yourself and take a cool, hard look at your spending and how much you have coming in each month.
4. Pay off the most expensive debt first: Are you being charged a high interest rate on loans you've taken out for big purchases? If so, it makes sense to get them down to size first after you've paid your essential bills.
5. Plan for a major purchase: All sorts of life-changing events can cost big bucks, so save accordingly.
6. Never miss a payment: A minor oversight, like forgetting to pay a credit card bill on time, is serious these days and could cost much more in the long run.
7. Get the best deal on your insurance policies: It really does pay to compare the price of insurance rather than automatically renewing a policy each year. Unless challenged, your premiums will rise every year.
8. Become a switcher: Sticking with the same supplier for gas and energy, broadband, TV and telephone means you’re a hostage to their price hikes. You could save as much as £300 a year by switching.
9. The little things: They all add up. The morning cappuccino or latte, a couple of magazines, a meal out – they blow a hole in your budget and there's nothing to show for it.
10. Cash in: Use the credits built up on reward credit cards or cashback cards. Before going shopping or out for a meal, see if there are any vouchers on offer for discounts.
Alidad Moghaddam, Head of We Know Money said: "Savings.co.uk not only helps people compare the best rates on savings but also provides consumers with advice on all aspects of their budget. A full range of money saving tips, features, guides and news articles can be found on the site to help consumers make the most of their money."
Savings.co.uk is part of a family of personal finance websites under the We Know Money brand. The team has also relaunched creditcards.co.uk, mortgages.co.uk, lifeinsurance.co.uk , homeinsurance.co.uk, carfinance.co.uk, investments.co.uk, healthinsurance.co.uk, pensions.co.uk, and financialservices.co.uk.
About We Know Money
We Know Money is the brand name of Financial Services Net which was bought by Moneysupermarket.com in the Autumn of 2010.
We Know Money is a portfolio of websites focused on a wide range of personal finance subjects. Our main websites cover mortgages, savings, credit cards, life insurance, home insurance, health insurance, investments, pensions, financial services and car finance.
At We Know Money we realise that in today's world, consumers are faced with a bewildering range of products. Our websites are designed to provide people with comprehensive information, guides and tools to arm them with the knowledge to choose the correct products.
Twitter - http://twitter.com/weknowmoneyuk
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