Making Savings On Your Outgoings

By Author: Alisdair Cosgrove
Total Articles: 184
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In the current economic and financial climate many people are looking for ways to try and stretch their income that little bit further and cut back on what goes out each month. It is important to review your finances and see where you can make changes or cutbacks that could save your money, as this could make a big difference to your financial situation and could relieve some of the stress that you are facing over the state of your household finances.

Debt consolidation is one way in which you could make savings on the amount of money that you have to pay out each month, and you can get some competitive deals on debt consolidation loans. With a debt consolidation loan you simply use on low rate loan to pay off all of your existing smaller, high interest debts, such as cards and loans, which can potentially make a big difference to the amount that you pay out each month on debt repayments. Also, it cuts down on the number of debt repayments that you have to make.

Some people pay a fortune each month for various services such as utilities, broadband, mobile phone, and insurance services. However, these days you can ...
... use one of a number of price comparison sites online in order to see if there is a better deal available from another provider. By switching your services to a cheaper provider you could start making savings on your bills and premiums, and all of these savings can add up to a tidy sum.

If you have high interest credit cards then the chances are that you are paying a large chunk towards just the interest on your credit card debt each month. It is well worth while looking to see if you can transfer your balance onto a low rate life of balance transfer card or a 0% balance transfer card, which will enable you to avoid paying interest for a while, and could speed up your debt repayment as well as cutting your monthly repayments down.

Many people find that every month they clock up huge fees and charges due to missed or late repayments on credit cards or for exceeding credit limits on overdrafts and cards. Try being more careful about your money and monitor carefully what comes in and goes out of your account so that you never exceed the limit. Also, make sure that all repayments are made on time. A little more care over your accounts could save you a lot of money in charges and could even help you to avoid damage to your credit.

Over recent months many people have stopped shopping at the big name supermarket giants and have switched to the smaller discount supermarkets. Recent research has shown that this can cut your shopping bill by over 20% in some cases, so try out one of the discount supermarkets for your groceries and households goods and see whether this can help you to save money. If you still want to shop at the larger supermarkets keep your eyes open for special offers and promotions that many of the larger supermarkets are now running.
Alisdair Cosgrove has been writing personal finance articles for many years and can find more of his work at the UK site TheMoneyStop.co.uk, offering bank accounts along with great savings accounts along with great bank account and tips on high interest savings accounts.