How to Save Over £1,000 in Six Months

Saving money is actually easier than you think. Everyone needs to save in this tough economic climate and some of us are undertaking fresh measures to make ends meet. You may have taken on an extra job, sold your car or even downsized your accommodation and moved to a smaller place.

If you think carefully about your expenses though, you’ll find that you can actually save a large amount of money over six months if you focus on the smaller details.

Change your phone contract – £100

You can save massive amounts of money if you go with a bundle deal and pay for your TV, broadband and phone contract as one package. By doing this, you could save up to £200 a year – £100 in six months. Go to a phone provider store to view the SIM only deals, ASAP.

Don’t waste food – £200

Britain wastes an atrocious amount of food, something that is not only unethical, but stupidly costly as well. Experts estimate that British homes discard around £400 in food a year. If you have uneaten odds and ends, turn them into a stew or an omelette – it’s not so hard to do and will keep you from another trip to the supermarket for another few days. It all adds up.

Quit buying coffee every day – £285

Do the maths – £2.50 a day adds up to £285 in six months on coffee alone which is frankly shocking, when you think about it. It’s far more prudent to buy your own coffee and brew it at home. Get an insulated mug or flask and take yours to work instead of paying extortionate amounts for sub-par coffee from the overpriced chain coffee shop on the corner.

On your bike! – £180

Living in the big city isn’t exactly easy on your wallet in terms of getting around. Even going to see your friends tends to be a big spending decision in some cases. The average commuter burns £454 a year on fuel just travelling to work and back. If you subtract the costs of buying a bike you could save up to £360 a year, which works out to be £180 in six months. Oh – and you’ll get fitter, too.

Work out at home – £300

Gym memberships should be reserved for only the most dedicated. The majority of people, it seems, are guilty of being too keen and signing up for annual memberships, which they then never fulfil. If the average gym membership costs £50 a month, you could save £300 over six months by jogging in the park and doing your exercises at home – the end result will be the same, after all.

 

Six months later, and you’re £1,000 richer! Hopefully. On top of the above suggestions, there are even more ways you could cut back on your expenses, which include investing in energy-efficient kitchen appliances and light bulbs. If you feel like you’re burning too much cash, it’s time to review the smaller, hidden expenses in order to save.

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The Benefits of the Help to buy scheme for Britain

In today’s market buying a house is not easy.  Not only are we currently trying to recover from the recession and having to live on less money but also we have a recurrent situation where we see house prices rising and falling! At present there seems to be a sudden increase again which may be a good thing for the home owner wishing to sell, however this only adds to the angst and distress for those looking to buy.

So how can we get onto the property ladder and what options are available to help and support us when it comes to buying a home in Britain?

Britain introduced the ‘Help to Buy Scheme’ recently to support those trying to get onto the ladder. As the market saw a sudden rise in house prices and a recurrent growth in property prices, many believed we would be destined for another housing crisis but thanks to the government’s plans to get bankers to support ‘state backed mortgages’ we are now seeing a light at the end of this long and perplexing tunnel.

What are the benefits?

Thanks to this new scheme, buyers can get onto the property ladder by putting down a small deposit of as little as 5 percent. For most buyers finding a hefty deposit is without a doubt one of the most difficult things to accomplish and within a situation where banks were simply ‘not lending’ it was almost impossible. This scheme will come as a warm welcome for many and not only is it a great thing for buyers but also a positive way of pushing forward bankers into building relationships with lenders again, ultimately building the trust between the two and helping to restore people’s faith in the banks.

Why now?

This new scheme was pushed forward by the prime Minister and chancellor George Osborne to help boost the already recovering economy and many believe that this is a desperate attempt at boosting the Conservatives appeal ahead of the 2015 general election, as similar situations have been apparent in the past – we once saw Conservative Prime Minister Margaret Thatcher push forward the scheme which allowed people to buy their rented accommodation from their local authorities in a similar manner. Either way, this new scheme is set to increase and guarantee mortgages by up to 15 percent which can only be a good thing.

Who can benefit?

Aimed at helping to support the low income or middle class working families, this new government backed scheme comes as a breath of fresh air. Not everybody is born into wealth, so to be able to easily buy a home should help alleviate one of the major burdens in most people’s financial lives. While there is a rush to get these state back mortgages, and some critics are saying that this influx of buyers who would not have traditionally qualified for a mortgage is a replication of the behaviour that caused the economic crises, most people should see this as a step forward. For those people who still find it difficult to raise the 5% deposit, or are unable to show the proof of work required for this scheme – renting through a company like Rentify continued to make the best sense in the London area. A company like this can act as a broker between the tenant and landlord, making for a smoother renting experience.

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