Tuesday 26 June 2018

Boosting The Family Finances This Summer

Yes you guessed it, summer is fast approaching and because of that, you can start to worry more about your finances. This is because with summer breaks from school and children to occupy for a number of weeks, it can seem like things are going to get expensive and you may wonder where you will find the spare cash for some days out and the chance to enjoy yourself. However, you can make more from your current financial situation and I thought now would be the ideal time to help you stretch your income further than ever before.

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Have you checked your statements lately?

One of the first things you should consider doing is checking your bank statements. You may find that you have payments leaving your account that you didn’t realise. Many people assume that debts are cancelled directly, but sometimes they can slip through the net, which means you could be paying for something you no longer want or use. Highlight debts that concern you and get them cancelled, this could free up some extra cash already. You may also want to highlight debts where you think you spend too much so you can research ways to bring the costs down.

Could you tackle the debt once and for all?

Debt can be a big outgoing for many and so manning it a focus to reduce it could help to save you a lot of money on a monthly basis. Perhaps you may want to think about consolidating all of the debts into one payment, saving you money and charges of interest. You could look on websites like http://repair.credit/ to help get some advice on some of the best options, especially if you think your credit rating is a little low. You could also think about focusing on the diet that costs you the most, the sooner it is paid off the better off you will be.

Switching providers of bills could save you a fortune

You might not realise it, but energy and insurance policies can be costing you more than you need to. When was the last time you switched provider? If you haven't done it in a while the chances are that you are could be paying more than you need to. Loyalty sometimes doesn’t give you good deals, but being a new customer does. A quick look online at comparison sites will help you find the best deal, and switching could save you a fair bit each month.

Saving on daily essentials

Finally, could saving on daily essentials be the key to saving more money each month? The answer is yes. The first one to tackle would be what you spend on food. This can be a huge outgoing but it is one that is completely in your control. Meal planning and writing lists can help you save a great deal on your food shopping. Websites like https://www.thekitchn.com/ can help. You could also use coupons and voucher codes to bring the cost down as well as for things like clothing, meals and days out.

I hope these tips help boost your family finances this summer.