Find out how to save money in the UK

Realistic ways to save money In UK

Conquering the Cost of Living: Realistic Ways to Save Money in the UK in 2024

The UK’s rising cost of living is putting a squeeze on everyone’s budget. But fear not, savvy savers! This comprehensive guide unveils ingenious ways to trim your expenses and boost your savings, even on a low income. Let’s dive into actionable tips, explore clever hacks, and unlock the secrets of financial stability in 2024.

Conquering the Big Three: Housing, Food, and Transport

Housing often eats up the biggest chunk of our income. Consider these clever housing hacks:

  • Embrace housemates: Sharing rent and utilities can significantly reduce your housing costs.
  • Negotiate your rent: Don’t be afraid to politely talk to your landlord about potentially lowering your rent, especially if market rates have changed.
  • Explore alternative housing options: Consider housesitting, pet-sitting, or co-living arrangements for temporary or flexible living situations.

Next, let’s tackle the food budget, a significant expense for many. Here are some money-saving kitchen heroes:

  • Meal planning and budgeting: Plan your meals for the week, create a grocery list based on those meals, and stick to it! This avoids impulse purchases and food waste.
  • Embrace own-brand and value ranges: Supermarkets offer excellent own-brand products that are often much cheaper than branded equivalents.
  • Get creative with leftovers: Leftovers can be transformed into delicious new meals. Invest in good storage containers and get creative with recipes.
  • Utilise discount apps and loyalty programs: Download apps like Too Good To Go or Olio to find discounted food approaching its expiry date. Supermarket loyalty programmes can also offer significant savings.

Transportation costs can also drain your wallet. Here are some ways to be a savvy commuter:

  • Embrace public transport: Invest in a travelcard or season ticket for regular journeys. Consider walking, cycling, or scooting for shorter distances.
  • Carpool or rideshare: Share the ride with colleagues or friends to split the cost. Apps can connect you with others going the same way.
  • Challenge car ownership: Do you really need a car? Consider alternatives like car clubs or renting a car only when absolutely necessary.

Beyond the Big Three: Sneaking Savings Everywhere

Now, let’s explore some clever ways to save on other expenses:

  • Review and reduce subscriptions: Audit your monthly subscriptions and cancel any you no longer use. You might be surprised at the hidden costs!
  • Embrace free entertainment: Libraries, museums, and parks offer free or low-cost activities. Explore your local community for hidden gems.
  • Get crafty and DIY: Instead of buying new things, learn to repair, upcycle, or make your own. You’ll save money and be more resourceful.
  • Negotiate bills: Don’t be afraid to haggle on phone, internet, or insurance bills. Politely explain your situation and ask for a better deal.
  • Utilise cashback apps and websites: Apps like Quidco and TopCashback can give you cashback on your online purchases. Every little bit helps!

The Power of Budgeting: 50/30/20 Rule to the Rescue

The 50/30/20 rule is a simple and effective budgeting framework. Allocate 50% of your income to essential needs like housing, food, and bills, 30% to discretionary spending like entertainment and dining out, and 20% to savings and debt repayment. This structure ensures you prioritise necessities, allocate for fun, and build financial security.

Remember, small changes add up to big savings! Start by implementing a few of these tips and gradually build your savings muscle. By being mindful, resourceful, and adopting clever money-saving habits, you can conquer the rising cost of living and achieve financial well-being in 2024.

Bonus Tips:

  • Challenge yourself with no-spend weekends or weeks.
  • Sell unwanted items online

Unconventional Savings Strategies: Boosting Your Budget with a Sprinkle of Spunk

Forget boring spreadsheets and beige budgets! Let’s inject some excitement into your savings journey with unconventional strategies that keep it fun and effective.

  • The “Spare Change Challenge”: Round up every purchase to the nearest pound and deposit the difference into your savings account.It’s painless and adds up surprisingly fast. Imagine finding unexpected cash at the bottom of your digital piggy bank!
  • The “No Latte Challenge”: Pick a luxury you indulge in regularly (lattes, takeout, etc.) and forgo it for a week, month, or even a year. Track the savings and treat yourself to something special with the accumulated funds. You might be surprised how little you miss the daily latte, yet how much the saved cash can achieve.
  • The “Frugal Fun Challenge”: Turn frugality into a game! Challenge yourself and your friends to find the most affordable, yet enjoyable activities each week. Explore free museum nights, park picnics, board game nights at home, or volunteer opportunities. Who can discover the most fun for the least cost? The winner gets bragging rights and the satisfaction of knowing they’ve stretched their budget beyond belief.
  • The “Skill Swap Bazaar”: Do you have a hidden talent for baking, writing, graphic design, or something else? Organise a skill swap with friends and neighbours. Exchange your skills for theirs, learning something new while saving money on services you might otherwise pay for. Imagine getting a haircut in exchange for baking cookies, or learning photography from a neighbour while teaching them Spanish!

Bonus tip: Gamify your savings with apps and platforms like Moneybox or Plum. These apps help you set goals, track progress, and even visualise your future financial freedom with playful features and rewards.

Remember, saving money doesn’t have to be dull. Inject creativity, challenge yourself, and get a little competitive. You’ll be surprised how much fun you can have while watching your bank account bloom!

The Bottom Line:

Conquering the cost of living in 2024 is achievable, even on a low income. By embracing clever hacks, utilising effective budgeting strategies, and injecting a dose of fun and creativity, you can save money, build financial security, and achieve your financial goals. Remember, every penny saved is a victory, and small changes can lead to big rewards. So, start implementing these tips today and unleash your inner financial champion!

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How to Protect Your Wealth from Dangerous Impact of Inflation

Inflation erodes your savings. Learn the worst investments, debunk the cash-king myth, and discover the best strategies to protect your wealth during inflation and recession.

Weathering the Storm: Safeguarding Your Savings from Blighty’s Inflation Bite

Inflation, the stealthy scoundrel, is quietly nicking your quid and shrinking your hard-earned dosh. In today’s unpredictable economic climate, navigating this financial headwind is more crucial than ever. But fear not, my fellow Brit, for with the right dodges, you can shield your wealth from inflation’s gnashing teeth. This comprehensive guide delves into the worst investments during inflation, unmasks the “cash is king” fallacy, and unveils the best investment options to weather both inflation and recession, keeping your pounds safe and sound.

Worst Investments During Inflation: Steer Clear of These Erosion Zones

  1. Cash: While readily accessible, keeping a stash of notes under your mattress is like watching them slowly vanish in the inflation smoke. Cash loses value faster than inflation eats away at its buying power, making it a poor long-term bet.
  2. Long-Term Gilts: These fixed-income bonds offer predictable returns, but these returns are locked in, unlike your rising costs. When inflation outpaces gilt yields, your investment actually loses value over time. So, long-term gilts are particularly vulnerable in high-inflationary environments.
  3. Deflationary Assets: Collectibles like that dusty teapot collection? Artwork gathering cobwebs in the attic? While they might hold sentimental value, in periods of deflation, their actual value can tumble, further eroding your wealth.
  4. High-Interest Savings Accounts: While offering a smidgen more than your average savings account, they rarely outpace inflation. Your money might be earning a few pence, but its spending power is steadily shrinking. Think of it like watching your pint of ale shrinking before your very eyes!

Is Cash King During Inflation? Debunking a Persistent Myth

The “cash is king” mantra during inflation is a bit of a red herring. While convenient for immediate needs, cash is a lousy long-term store of value. Inflation chomps away at its buying power, making it a losing proposition over time. Instead, consider using cash strategically for short-term needs and invest the rest in assets that can potentially outrun inflation, like a sprightly runner in the inflation race.

Best Investments During Inflation and Recession: Building a Portfolio for Blighty’s Bumpy Road

  1. Index-Linked Gilts (ILGs): These clever chaps adjust their value in line with inflation, so your investment grows alongside it, protecting your buying power like a trusty umbrella against the inflationary showers.
  2. Commodities: Think of gold, oil, or even a juicy British banger. Some commodities tend to thrive during inflation as demand rises due to increasing prices. However, like a temperamental dragon, they can be volatile, so careful research and diversification are key.
  3. Bricks and Mortar: Owning a flat in the city or a cosy cottage in the countryside can be a hedge against inflation, as rents and property values typically rise alongside it. However, remember, buying a house isn’t like getting a takeaway curry – it requires significant capital and upkeep costs.
  4. Dividend-Paying Stocks: Choose companies like steady old pubs or reliable water companies with strong financials and a history of paying regular dividends. This can offer a steady stream of income that keeps pace with inflation, like a reliable friend helping you weather the economic storm.
  5. Investment Funds: Think of these like a basket of goodies – diverse index funds provide exposure to a range of stocks, spreading your risk and offering the potential for long-term growth. Look for funds that track inflation-adjusted indices for added protection.

Beyond Investments: Strategies to Supplement Your Financial Defence

  • Negotiate Salary Increases: With inflation biting, make sure your wages keep pace. Regularly chat with your boss about raises to maintain your buying power, like a savvy haggler at a London market.
  • Reduce Debt: High-interest debt becomes even more of a burden during inflation. Prioritise paying it down to lower your financial obligations and free up cash for investments, like clearing the decks for a fresh hand in the financial game.
  • Revisit Your Budget: Inflation can throw your carefully crafted budget out of whack. Regularly review and adjust your spending to accommodate rising costs, like making sure your finances stay nimble despite the economic jig.
  • Seek Professional Advice: Navigating complex financial decisions during inflation can be tricky. Consulting a financial advisor can provide personalised guidance and help you develop a customised plan to protect your wealth, like having a seasoned skipper guide you through stormy seas.

Conclusion: Inflation Proofing Your Future in Blighty

Protecting your wealth from inflation requires a proactive approach. By understanding the worst investments, debunking the “cash is king” myth, and exploring the best investment options, you can build a resilient financial portfolio that can weather even the stormiest economic times. Remember, knowledge, strategic planning, and ongoing adjustments are your allies in this battle against inflation. So, grab your financial umbrella, put on your investing boots, and take control of your finances. By making thoughtful choices and adapting to the economic climate, you can ensure your hard-earned pounds stay safe and sound, ready to weather any inflationary squall and build a prosperous future for yourself, even in Blighty’s unpredictable economic landscape. Remember, financial savvy is your super power – use it wisely to protect your wealth and make inflation tremble in its tracks!

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Car Tax Scams UK

Are there any vehicle tax scams in UK?

DVLA Vehicle Tax Scams

Fraudsters are imitating DVLA website to steal your money. Be very aware of what you click on why paying your vehicle tax online in the UK!

One Example Of UK Car Tax Scam based on DVLA website

Are there any vehicle tax scams UK?
  1. Scammer places Google Ad to appear at top of search results place. The reason it comes at top of page is due to payment for ad not cause it is top of Google Search results for likes of vehicle tax payment or the like.
  2. If you click on ad it links you to a page with very similar colourings and branding as DVLA website but it is a private company. Banks will tell you they can’t do anything about ads as technically not fraudulent – providing vehicle checking service.
  3. The page you arrive at will give 3 options – 6 months road tax, 12 months road tax and vehicle check options. When you click on Apple Pay – for example – thinking the shopping basket will give you options it doesn’t. Instead the company immediately takes £0.50 payment for a vehicle check (undefined).
  4. Frustrated you can’t do anything of note related to paying car tax you come off website and find your way to the official DVLA website and make payment to ensure you are road legal.
  5. A couple of days later your Bank app will not show any payments or payments declined but you somehow receive an app message saying £7.85 vehicle check payment declined and if you check your Apple Wallet the declined payment is shown.
  6. If you check with your Bank Online Fraud Department they tell you that this is a common vehicle tax scam that the Bank’s anti-fraud systems initially block.
  7. If you do not contact your bank to report it it is likely that more payments, in rising amounts, will be attempted on your bank account.
  8. Eventually the fraudsters may breach the automatic anti-fraud defences and your bank account will suffer loss. The company maybe able to justify the payment for a service delivered you did not really want so get away with it.
  9. The only way to stop future payments is to ask your bank to place a stop of payments to this company, but they may find other means to attack your bank account. As a double measure you maybe advised to cancel your existing bank card and order a new one to be delivered in 3 to 5 working days from the bank.

Be very careful when paying your vehicle tax. Deceptively similar websites to DVLA website have the ability to trick even the most cyber risk management aware individual. Don’t be the next victim!

More examples of DVLA Vehicle Tax Scams

Give examples in step by step guide to DVLA Vehicle Tax Scams UK

Sure, here’s a step-by-step guide to help you identify and avoid DVLA vehicle tax scams in the UK:

Step 1: You receive an email or text message from what appears to be the DVLA. The message will usually state that your vehicle tax is due for renewal and will provide a link for you to follow to make the payment.

Step 2: The link will take you to a website that may look like the official DVLA website, but in fact, it is a fake website set up by scammers to steal your personal and financial information.

Step 3: The website will ask you to provide your personal and financial details, such as your name, address, bank details, and credit/debit card information, to complete the payment process.

Step 4: Once you have provided your details, the scammers will use them to steal your identity or take money from your bank account.

Step 5: After you have made the payment, you may receive a confirmation email or text message that may appear to be from the DVLA. However, the message is fake and has been sent by the scammers to make you think that the payment has been successful.

Step 6: A few days later, you may receive another email or text message from the scammers, claiming that there was a problem with your payment and asking you to make another payment to avoid penalty charges or legal action.

To avoid falling victim to DVLA vehicle tax scams, always remember:

  • The DVLA will never contact you via email or text message to ask you to renew your vehicle tax.
  • The DVLA will never ask you to provide your personal and financial information via email or text message.
  • Always check the URL of the website to ensure that it is the official DVLA website.
  • If in doubt, contact the DVLA directly to confirm the authenticity of any communication you receive.

Car Tax Scams UK

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Energy Saving Tips

Money your income go further with money saving tips

How do you save energy tips?

Energy Saving Tips UK 2023

Saving money on energy bills in the UK

Energy bills can be a significant expense for households in the UK, especially during the winter months when heating and lighting needs increase. If you are looking to reduce your energy costs, there are several steps you can take to save money on your bills.

  1. Shop around for the best energy deals: energy prices can vary significantly between different providers, so it pays to shop around and compare deals before choosing a supplier. Look for deals that offer competitive prices, discounts, and incentives such as cashback or vouchers.
  2. Install energy-efficient appliances: replacing your old appliances with more energy-efficient models can significantly reduce your energy consumption and lower your bills. Look for appliances with energy efficiency ratings of A+++ or A++, as these are the most energy-efficient options on the market.
  3. Use energy-saving light bulbs: traditional incandescent bulbs are inefficient and use more energy than newer, energy-saving alternatives such as LED bulbs. Switching to LED bulbs can save you up to £35 per year on your energy bills.
  4. Insulate your home: poor insulation is a major cause of heat loss in homes, leading to higher energy bills. Insulating your loft, walls, and windows can help to keep your home warm and reduce your heating costs.
  5. Use a smart thermostat: a smart thermostat can help you to control your heating and hot water more efficiently, allowing you to set a schedule and adjust the temperature remotely using a smartphone app. This can help you to reduce your energy consumption and save money on your bills.
  6. Turn off standby power: appliances and electronics that are left on standby can use a significant amount of energy, adding to your energy bills. Make sure to turn off appliances and unplug chargers when they are not in use to save energy.
  7. Use a draft excluder: gaps around windows and doors can allow cold air to enter your home, making your heating system work harder and increasing your energy consumption. Using a draft excluder can help to seal these gaps and reduce your heating costs.
  8. Get a home energy assessment: a home energy assessment can identify where your home is losing energy and provide recommendations for improving its efficiency. This can help you to save money on your energy bills and make your home more comfortable.
  9. Consider switching to a renewable energy source: switching to a renewable energy source such as solar panels or a wind turbine can significantly reduce your energy bills. While the upfront costs may be higher, the long-term savings can be significant.
  10. Use energy-efficient modes of transportation: driving a fuel-efficient car or using public transportation can help to reduce your energy consumption and lower your energy bills.

Top 10 tips for cutting energy bills in 2023 in Britain

  1. Install solar panels: solar panels can provide a significant portion of your home’s energy needs and can reduce your energy bills significantly.
  2. Use energy-efficient appliances: as mentioned above, replacing your old appliances with energy-efficient models can significantly reduce your energy consumption.
  3. Install a smart thermostat: a smart thermostat can help you to control your heating and hot water more efficiently, saving you money on your energy bills.
  4. Insulate your home: proper insulation is essential for keeping your home warm and reducing your energy costs.
  5. Use energy-saving light bulbs: switching to LED bulbs can save you up to £35 per year on your energy bills.
  6. Turn off standby power: appliances and electronics that are left on standby can use a significant amount of energy. Make sure to turn

NRG Saver

We are an Energy Saving company that was established in January 2021. We have 1 product, which is a Gas Boiler Optimisation Unit, more commonly known as a Gas Boiler Optimiser. It’s a small electronic device which sits between the boiler and the wall mounted thermostat and takes over control of the customers boiler.

It is Solid State, which basically means, no moving parts. This in turn means the Gas Boiler Optimiser does not require any maintenance or servicing and will work for 30 -40years.

It has proven to save homeowners up to 33% on their gas bills. Typical savings are between £600 – £1,000 per year. £18,000 – £30,000 over the next 30 years and that’s not including any price increases during that period of time. It retails for £850.00 and usually achieves a full payback in 18 – 22 months.

Installation is very quick and usually takes no longer than 1 hour. after which time, savings are immediate. We also offer 6 months, 12 months and 24 months interest free credit. If the customer selects 24 months interest free, the savings made will pay for the Optimiser. All the customer needs to pay is the deposit of £85.

This is truly a wonderful product which pays for itself in under 2 years and then continues to make huge savings for the homeowner for the next 30 years+.

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