In this blog, we’ll share some helpful tips – from smart shopping to saving energy – to ensure that you’re able to make your money go further this summer.
Money Saving Tips: Shop Smart
Do you have a monthly budget? If so, great news! If not, this is the first step. By working out your monthly incomings and outgoings, you can assess just how much you can afford to spend on necessities like groceries – and this will help ensure you keep within your means.
Once you have a budget in place, it’s a good idea to shop around to make sure you’re getting the best deals (and to make your money go further). You might find that it’s cheaper to buy fruit and veg from one supermarket or local provider, for example, and dairy products or meat from another. Internet shopping can also work out cheaper, so do bear that in mind, too.
Be sure to check out handy apps like Gander and Olio: these show discounted foods in local shops and even free food which has been offered by people and businesses. Gander shows reduced to clear food in real time by linking with POS technology used in stores, and research shows that – thanks to the app – more than 45% of reduced food is now being sold, reducing waste, and saving shoppers over 50% on their weekly shop.
When you actually get to the shop, a great tip is to only take with you the cash you’re intending to spend (as per your budget). This will help you stick to it!
Money Saving Tips: Energy
The rising costs of energy have dominated headlines in recent months, with the majority of energy providers hiking prices and many consumers feeling nervous about the colder months that lie ahead. With this in mind, it’s a great idea to get into good habits now: reducing your energy consumption with a few easy hacks will not only save money in the short term, but also will help you avoid drastically increased bills during winter.
· Turn off lights – and change your bulbs. We know, we know: switching the lights off when one leaves the room sounds obvious, but it’s easy to forget. Better still, make sure you’ve switched out every bulb in your house for LED equivalents: these not only require less electricity to power, but they also last longer than halogen, incandescent or CFL bulbs.
· Forget standby. Did you know that almost all electric appliances can be turned off at the plug without causing damage or altering programming? It’s estimated that you could save over £50 a year just by switching off appliances when not in use.
· Be clever about your washing. You can slash energy bills by making a few small tweaks to your clothes-washing preferences: simply dial it down to 30 degrees (rather than using higher temperatures), try to cut down on one load of washing per week, and avoid the tumble dryer whenever you can (in good weather, dry your clothes on a line outside, or use drying racks in the home).
· Get smart in the kitchen. First of all, trim your oven use: if you plan meals ahead, you can use the oven wisely by batch cooking dishes and freezing the food you aren’t going to eat yet (putting a casserole in at the same time as roasting a chicken, for example). Love a cuppa? Only boil the kettle with as much water as you need – don’t fill it to the top! And, finally, only run your dishwasher when it is full – this will reduce the amount of water you use.
Money Saving Tips: Cut Down on Fuel Costs
Another big talking point in 2022 has been escalating fuel costs: from diesel to petrol, prices have risen sharply. But that doesn’t mean that using your vehicle has to break the bank – there are ways to get around without draining your coffers.
First of all, before you fill up your car, we recommend checking local price comparison websites such as https://www.petrolprices.com/ : these hubs provide excellent tips and up-to-date details of the cheapest petrol stations on the Islands.
Happily, there are also some things motorists can do to reduce the amount of fuel their car uses, such as:
· Lightening the load. Whilst taking bike/ladder racks off your vehicle when not in use might seem a faff, your car actually uses more fuel to push these items through the air – so it’s well worth doing. In fact, generally keeping your car clutter-free and tidy is a good idea: the lighter the load, the less you’ll have to push down on the accelerator or change gear (all of which uses fuel).
· Watch your tyres. Low tyre pressure is a key culprit when it comes to burning fuel: studies show that up to 3% additional fuel can be used for every 10% one’s tyres are under-inflated. Make sure to top up the air regularly!
· Limit air con use – and keep the windows closed! Most of us don’t even think to switch off the air con (even when it’s not hot); instead, we override it with the heater when we get cold. This is an inefficient use of energy and drains fuel. In addition, even if you have the window open a smidge, this magnifies the buffeting effect in the cab – and (you’ve guessed it!) increases fuel consumption.
Money Saving Tips: Responsible Borrowing
As financial pressures increase, more people find themselves turning to credit to handle the cost of day-to-day living – and, if this is something you’ve been considering, please be assured that Cherry Godfrey are here to help you borrow responsibly.
Borrowing is on the rise, which means that – on the surface – there are plenty of ‘attractive’ deals. However, it’s more important than ever to only take out a loan from a trusted, scrupulous provider. Cherry Godfrey can help you find the right deal for you: whether that’s Debt Consolidation (rolling multiple debts into one new loan, often with more favourable terms) or a Personal Loan. With up to £50,000 available unsecured, and quick decisions guaranteed, it’s our aim to find a viable solution that will meet your needs without the need for you to overstretch.
Are you worried about the cost-of-living crisis? If you’d like to discuss your current financial situation and any other concerns, please submit a callback request today. One of our team will be happy to contact you at a convenient time, with the aim of finding a finance solution that is specifically tailored to your needs. We’re here to help!
