Tips to beat the credit crunch – Part Four

Get supermarket smart

All the high profit margin goods are placed at eye level in supermarkets. So you know that the cheaper goods are higher up and lower down. Try to pick your products from these areas. Always have a list before you go shopping and never go shopping on an empty stomach.

Get a great deal on utilities

Try www.uswitch.com to go through all your utility providers and try to find a cheaper one. This can save you a small fortune every month.

Have a ruthless budget

If you don’t have a budget that you use, you are missing a huge opportunity. Each week or each month, keep a strict eye on what you’re spending and cut out any excess spending to increase your savings or pay down debt faster.

Get rid of debt

Get rid of the most expensive debt first, usually credit cards. Once you’ve done that, get rid of loans and then start to build up your savings account. Start with high interest cash ISA and work from there. Once you’ve maxed that out, it’s time to start to invest. Believe it or not, this is a great time to invest. It isn’t just supermarkets that are having sales….stocks and share have rarely been cheaper than they are right now, so if you have a decade or two to sit on your money, you could grab a real bargain right now.

Try to get free nights out

Go to book launches, free lectures, art exhibitions, local band nights…anything that doesn’t require a cover charge and where you can bring your friends and have a bit of fun. It doesn’t have to cost money to be enjoyable!

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Tags: Budget, Credit Crunch, Debt, Loans, UK Credit Cards