Use Promo Codes And Other Clever Tricks For A Full Money Makeover

By Author: RegSpencer
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A recent report has revealed that ordinary workers are unlikely to see a payrise until 2015, which is bad news for those already struggling to meet rising living costs.

While petrol, food prices and utilities continue to rise, pay will flatline for at least another four years, according to thinktank Resolution Foundation.

However, it's not all bad news. In the absence of an actual payrise, it is possible to give yourself a 25 per cent increase in disposable income by applying some clever cost-cutting tools, such as Promo Codes and hidden moneysaving tricks.

In order to do this it is necessary to spend some time examining your incomings and outgoings, in order to see where money can be saved; so sit down with a cup (or pot) of tea and get ready to be the best boss you've ever had.

Step One

Are you in the Danger Zone?

In order to get a clear picture of your financial situation you need to make an honest recording of your outgoings. Bills and other fixed expenses are fairly easy to calculate, it's the small everyday expenses that can creep up on you. ...
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A great way to keep track of all those 'extra' expenses is to keep a spending diary, noting down every newspaper, coffee or taxi fare that would otherwise go unchecked.

Once you have an accurate idea of your financial situation you will be able to see whether you're in the 'danger zone' of your outgoings exceeding your incomings.

If this is the case then now is the time to carry out a full money makeover and give yourself the equivalent of a 25 per cent payrise.

Step Two

Be Ruthless

When it comes to financial matters it pays to take a systematic approach. Work through your finances and examine each outgoing to see where you can make savings. The MoneySavingExpert website is a great source of advice, as is youandyourmoney.co.uk.

The following are some basic areas where it is usually possible to make savings:

Mortgage/Rent

It may seem impossible to lower your mortgage costs, but with a bit of shopping around it can be done. As long as you aren't tied into your mortgage, or if you are coming to the end of a tie-in period, it's usually possible to switch mortgage products, or even mortgage providers.

When you're tied into a rental agreement things can be a touch trickier. However, look around to see whether the rent that you pay is on a par with the rent on other similar properties. If it isn't then politely point this out to your landlord. It is often preferable for a landlord to keep a good tenant on a slightly reduced rent than have to go about finding a new tenant who will be an unknown quantity.

Utilities

Gas and electricity prices are high, and utilities are often a considerable household expense. A comparisons website such as uSwitch can save you money in minutes by switching you over to another provider. It may even be possible to get cashback or other incentives for switching, as well as a reduced tariff.

Food

Food is a big expense, particularly for large families, and the cost of many items continues to rise. Shopping at markets or wholesalers, switching from brand names to supermarket's own brand produce, using discount vouchers, and shopping late in the day when more items are reduced, can all save money in this area.

Petrol

Rising petrol prices can be crippling for those whose livelihoods depend on covering a lot of miles. Pumps.co.uk is a great website that enables you to find the cheapest petrol prices near you.

A 'Pumps' app for the iPhone has just been released, which will make it even easier to find the cheapest petrol when on the road.

Communications

The mobile phone and broadband industry is a competitive one, and there are often many great deals to be had. As with most purchases, shopping around is key. The best deals are rarely found on the high street, so hit the internet instead and discover a whole raft of good deals and freebies available.

Step Three

Double the Discount

Whatever the purchase you are looking to make, before you click to buy, check out the great Promo Codes and discount deals on 5hop5.co.uk to save even more money.

5hop5.co.uk has a wide range of discount deals in one place, so you don't need to scour the internet to find the Promo code that you need.

Step Four

Save, Save, Save

Hopefully, by going through all your outgoings, you'll have managed to shave a considerable amount off of your outgoings. Sensible types will want to put some of this away into savings to see them through the next few years of flat-lining wages.

Of course, if you have any debts it is normally advisable to use any extra income to clear them as soon as possible.

Spending a day examining your finances can save you a small fortune, and using great Promo codes from 5hop5.co.uk could mean not having to pay full price for any new purchases. You'd better get that kettle on!

The Article is written by www.5hop5.co.uk providing Promo Codes. Visit http://www.5hop5.co.uk for more information on www.5hop5.co.uk Products & Services.Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links & this copyright statement must be included. Visit www.5hop5.co.uk before you shop.