Wednesday 17 July 2019

Long-Term Money Saving Tips

Being a parent comes with a never-ending list of worries. One of the biggest changes is to our financial situations. Here's some tips to help save money in the longer term, looking towards the future.

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It may not seem like a top tip to you right now, but putting a little bit of money away here and there for a rainy day or for that once in a lifetime holiday is a sound idea. Some people access their bank account each day and save the pennies. For example, if you logged in to find you had £234.57 in your current account, you’d transfer 57p over to your savings account. Can you honestly say that you’d miss 57p? There are also numerous apps that can do similar things for you.

Research before you buy

If you’ve been saving for a new car for months, years even, then the last thing you really want to be doing is splashing out without thinking. Doing research about the car and the garage is vital. Using a car sales company, who’ve got plenty of great reviews on Facebook, is recommended. If you resort to buying in haste, you may well face major problems several months or years down the line, costing you money.

Have you ever bought something online and it hasn’t lived up to expectations? Maybe, you didn’t read the small print. Perhaps, you didn’t check the size properly and bought something too big or small. For example, make sure you have mattress sizes explained fully before splashing out. Often, the mattress costs the same or more than the actual bed frame. Research fully prior to pressing ‘buy’.

Look after things properly

How many of us get given the sofa protector kit when we buy a new sofa, put it in the cupboard and forget all about it? Then, four years down the line, it is looking rather tatty and we wonder why. It doesn’t have to be an official product, but caring for leather goods is vital. The same goes for items, which can tarnish easily. Don’t leave certain pieces of jewellery in damp places, like a bathroom, as, even though you may not have spent lots of them, not having to buy for a second time definitely saves money. Moreover, if you have valuables in your property, ensure they are listed on your insurance policy. Keep photographs of items and their receipts in a folder on the cloud for safe retrieval if you are unlucky enough to be burgled.

Consider alternative energy sources

Renewable energy is not only kinder for the environment, but can also be kinder on our purses. The initial outlay for solar panels, for example, may not seem like a money-saving tip, but for those living in the right kind of property, it certainly can be. It is worth checking to see if there are any government subsidies for the installation. Bartering with the companies is possible and definitely worth a try! In a few years’ time, the aim of the government is to move away from using fossil fuels, so be prepared early.


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