1. Consolidate debts – Add all your credit cards and store cards together and pay them off with one loan. You’ll have smaller monthly outgoings and the interest over the long term will be smaller.
2. Shop around for loans – Don’t assume you must take a loan from your bank. Visit a price comparison site and find great deals.
3. Buy online – Many city centre stores often have fantastic online deals. There are also dozens of stores that exist only online. They don’t have to pay for salespeople and city centre shops, and can pass on huge savings.
4. Lease your car – The moment you drive out of the car showroom your car could have lost thousands of pounds from its value, because it is now “used”. You can lease a car for a few thousand a year and also have insurance, servicing and other expenses thrown in if you shop around.
5. Buy in bulk – The more of an item you buy in one go, the cheaper it is. Join a wholesaler and make a few trips a year to buy non-perishable goods, and you’ll save in the long run.
6. Renew your mortgage – The mortgage deal you got when you bought your house might be out of date now. You could have been given a fixed rate for two years, but interest rates could have gone down and you might be able to get a much better deal.
7. Read every bill – Not only could there be errors in them, it’s a good idea to check that you’re not being charged for service you never use – by phone companies in particular.
8. Turn your heating down – Turning the thermostat down by just one or two degrees will save you pounds. If you’re cold, put a jumper on – why heat the whole house when you’re sitting in the lounge? You’ll help the environment, too.
9. Barter – Never accept a price tag on an item in a shop. After you’ve driven down your first price you’ll be addicted. Try it on rainy Fridays when there aren’t many customers in town and you could be amazed at the bargains you get.
10. Share things – You might only use a lawnmower a few times a month, and so might your neighbour. Ask them if they would go halves on one. Think creatively.