Saving Money This Autumn

Autumn is a great time of year, but as the cold weather begins to hit and the festive season looms on the horizon it’s important to think of ways to save money in addition to making additional income.

The challenge with additional income is that most ways to achieve this goal end up taking considerable amounts of time, and presuming you already have a pretty busy life, finding the time to make extra money can be difficult.  

Therefore, rather than trying to cram more into your life to earn a few extra pounds it can sometimes be a better approach to save money in several ways, and in doing so, the money you could save could be put into a small investment fund which you invest in CMC Markets – with a view to generating a decent return on investment that outmatches what you could earn by getting an additional job or setting up a side hustle business.

Eric Muhr
In that vein, let’s take a look at some of the ways you can save money this autumn:

  1. KEEPING WARM

The cost of energy is ever increasing and it’s therefore wise to look at ways of saving money on your energy bills.  There’s the obvious option of switching to a lower cost energy provider and insulating your home better in order to keep the heat your central heating system generates within your home, in your home, rather than seeping out the roof or through draughty windows and doors.

Then, there’s the option if alternative sources of energy such as solar power, which even in autumn and winter in this country can be effective as a secondary source of energy.  If you have an open fire, then it makes sense to gather as much wood as you can like a squirrel foraging for nuts – which can be dried out for the colder winter months.

  1.  BREAKFAST

Breakfast might not strike you as one of the most expensive meals of the day, but the cost of getting a coffee from Starbucks, for instance, can mount up – particularly if you add on a muffin or pot of bircher muesli.  

Making your own breakfast is much cheaper and a core component of living on a budget.

Indeed, many people that eat breakfast on the go find they spend close to £5 a day, particularly if they pick up their fuel at the train station, which amounts to £35 per week or £1,820 per year!  If you were to invest just £35 per week into a high interest savings account or a lucrative investment deal, over time, this would compound and create a small fortune.

Just think what your £1,820 would be worth today, if you had invested that in Bitcoin a few years back!

  1.  ENTERTAINMENT

Summer tends to be the season where we socialise a lot in the sun, go away on holiday, and often end up spending a considerable amount of money in the process.  Autumn, on the other hand is a time when we can enjoy the great outdoors with beautiful walks and look forward to getting home, cuddling up with a good film and a nice warming bowl of soup – therefore, embrace this season as a time to be cosy and homely, thus saving on your social spending in the process.

Collaboration

Mistakes That People Make when Trying to Get Out of Debt

Trying to get out of debt isn’t easy and this is especially the case when you keep on making bad decisions. After all, you don’t just need to pay off your debt, because you need to try and put an end to the spending habits that got you into debt in the first place. You also need to learn how to budget, prioritise your payments and even any emergency funds that you need as well.

Not Stopping those Bad Habits

People are creatures of habit. Spending money is absolutely no exception, so many people shop at the same stores and they also drive the car that they want because it is comfortable. The problem is that it is costing you way more than you can probably afford and if you don’t change your habits then you will never dig your way out of debt. If you do want to make a change then you need to start out with your morning habits. Instead of buying your coffee out, have it before you go. If you buy your lunch at the cafeteria then take your own instead. This can have a huge impact on your finances and this is especially the case if you commit to making changes on a day to day basis.

Trying to Go At It Alone

So many people are reluctant when it comes to asking friends and family for help and this is completely understandable. Going through debt alone however is a huge mistake and you need to get some support at some point. Consider getting some help from experts or even go through a credit counsellor. When you do this, they can then help to show you if there are other ways for you to get of debt and they can even point you to resources that you never knew were available.

NeONBRAND
Budgeting

You have to make sure that you have a budget that suits your needs. You have to be practical and you also have to live your life frugally. This will be difficult at first but if you are able to really force yourself to adjust to your new lifestyle then this can really help you to be more confident in yourself. After all, just one day of saving is all you need in order to see the benefits. If you need some instant cash to try and get yourself started with your new lifestyle then consider looking up “How equity release works?” as this is especially useful if your mortgage is the reason why you are in debt.

Signing up for Debt Relief Programs

Signing up for a debt relief program is not a mistake at all but if you are expecting a quick solution then this won’t happen at all. The first thing that you have to understand about a debt relief program is that they can take up to 5 years to complete. On top of this, the company that you go through may not be the best one for your needs. They may not be able to give you a payment option that suits your requirements and if this is the case then you may find yourself in an even worse situation.

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How To Successfully Live On A Budget

It may sound obvious but to successfully live within your means, the cash you spend each month needs to be less than, or at least equal to, the amount you bring in. For some people, this is a lot easier said than done. Credit cards, loans, and even emergency funds allow you to buy things you want when you want them, consequently it is easier than ever before to get into debt.

We all like to enjoy life outside of work and spend money in our free time, whether it’s going out to eat, having drinks with friends or watching the latest blockbuster movie at the cinema. But when money is tight, we have to be careful with the ways we entertain ourselves, to make sure we stick to a budget.

Here, we’ve put together a simple checklist to help you live successfully on a budget.

Create a budget that’s realistic

There is absolutely no point in having a budget you can’t manage – a good working budget needs to be realistic. When putting it together, you need to understand what, and where, you can cut down to save money. You must identify how you can allocate your income so that it meets your expenses.

It might be worth using an online budgeting tool, as these can help you keep everything under control and potentially save you even more money. It’s the perfect way to keep track of everything and see where you’re going wrong.

Steve Johnson

Reduce your car costs

Cars are expensive, there’s no escaping that, but there are numerous things you can do to lower the amount you spend on them. Such as, car sharing travelling to work with a colleague to cut down your petrol costs or adding a second driver to your car insurance policy as a named driver can lower your insurance costs, especially if they’re older and have a long history of no claims.

Until October 14, you can claim an MOT paid for by Halfords Autocentre when you purchase one thing in their store, above the price of a 5p bag. This can be redeemed any time in the year, making it one less thing to worry about and save you money.

Allow yourself to be flexible

Being flexible is one of the best ways to live comfortably and within a budget. We understand it’s not easy, but the simplest actions such as purchasing store brand products, instead of branded, makes a difference.

Prioritise

When you’re living on a budget you need to learn how to prioritise what is important to you. You may have to ditch going out for dinner every week and cook at home instead to save the pennies, as a family this would be a great time to get everyone together.  

In Collaboration with Debbie Fletcher