Top tips for money-saving

Top tips for money-saving

Aug 03
Top tips for money-saving

When finances start to spiral out of control it can be easy to give up on money management altogether. For individuals who struggle to manage their debts and meet monthly payments, debt management firms such as Money Debt and Credit (http://www.moneydebtandcredit.com/loans/debt-consolidation-loans-93.aspx) offer a range of solutions such as debt consolidation and debt management plans to help bring budgets under control. Before reaching this point, or as part of an on-going commitment to keeping your finances in-check, it’s best to try and make the most of the money you have at your disposal. Here are a few ways you can make some savings and generate cash:

1)    Assess your assets. A lot of people don’t realise they could be making extra cash without much effort. If you have a spare room you may consider taking in a lodger, or if you live in a city you may be able to rent out your parking spot or driveway as an extra source of income.

2)    Trade down. When it comes to shopping strip your activities down to the bare essentials and don’t be ashamed to opt for the basic options when it comes to food, cosmetics and clothing. In many tests cheap cosmetics perform just as well as their more expensive counterparts, and well, a tin of tomatoes is a tin of tomatoes isn’t it?

3)    Take stock of your finances. Simply by being aware of what you need to pay and when you will save yourself cash by avoiding late payment penalties and being able to identify where you can pay more in order to lower your interest rates.

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