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Ten more great ways to save cash

Budget

When you have worked out just what is coming in to your bank account and what is leaving each month, you can begin the task of writing a budget. Be realistic and come to an idea of what you could put away from the remaining money that is left, to a saving account. Consider no deposit car insurance or take a look at cheap car insurance for women.

Trim your expenses

Have a look at everything you spend money on. Is there anyway you can change and reduce these? Perhaps switching energy suppliers or telephone company. Or do you even need that mobile phone insurance?

Save at the start of the calendar month

If you put a set amount of money away at the beginning on the month using a standing order or direct debit you will invariably save more money than simply putting away what you have remaining before you get paid. This will stop you simply dwindling away your cash on meaningless items.

Use your ISA

You can save 5000 pounds a year Tax free by using a cash isa account that is available from every major high street bank. Consider the face that you get taxed a percentage of most other savings, itís a no brainer!

Check your accounts each year

Set aside some time once a year to review your bank accounts and more importantly your saving accounts to ensure you are getting the best deals. Many banks give great deals to new customers so switching banks is often a great idea.

Donít spend money needlessly

Are you spending £6 on lunch when you could spend £2? Or even take your own lunch to save even more? Similarly that £40 haircut can often be found for £15 and do you really need to spend over a hundred pounds on jeans?

Clear debts first

Interest rates are generally higher on debts than they are on savings; therefore there is no point in saving when you have debts. Get these paid off and then you can have peace of mind as you get to work saving, knowing that all your debts are paid off.

Try to get fixed rate debts

When you are taking out a mortgage or loan, opt for fixed rate interest rates, this means you will not encounter any surprises further down the line and you can successfully budget for the coming months when you know exactly what you will be spending.

Donít keep lots of money in your cash accounts

Itís good to have a reserve of cash in your current account, sure, however these accounts typically offer ridiculous interest rates for savers. Therefore if possible, keep most of your money in saving accounts, for example, instant access savings accounts.

Save for retirement

Under half of people in the UK are actually saving for their retirement. Become one of the smarter ones by thinking about your future and putting money aside to make your older years more comfortable.

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