Let’s give credit where it’s due to Martin Lewis. The pioneer behind the Money Saving Expert website has managed to make up to £87million after the website was sold to price comparison company Moneysupermarket.com.
The philosophies that have made Money Saving Expert such a success are quite simple – it’s all about saving customers money. Here we offer our top tips of simple ways to save that won’t cost you a penny: but will save you your fair share.
– Make your money go further: If you’re looking to put money aside each month, then make sure you’re capitalising on all the available interest. You’ll want a current account with a high rate of interest if you’re constantly in the black; and the first portion of your excess cash should be stored away in an ISA. From there, look for savings accounts – you can save up to £85,000 per person, per financial institution and your money is guaranteed to be safe, even if that institution goes bust.
– Boost your income: It makes sense that the more money you bring in, the better your financial situation will be: but that doesn’t mean you need to find a new job. There are actually a host of quick-fire ways to boost your income: you could recycle old mobile phones, laptops and other unwanted clutter in return for cash; consider selling unwanted items such as books and CDs on auction websites including eBay; you could rent out your driveway for parking if you live in a popular area; or even sell your story to a magazine, or get money when it publishes a picture of your pet.
– Get what you’re owed: Benefits are often overlooked as a great way to earn cash as there is a certain stigma that surrounds them: but why not look to get all the money you’re entitled to? Cash may be available to anyone with an illness/disability; those with dependent children; carers, guardians and pregnant women; those who are out of work; and those who earn only a limited income.
– Ensure you are insured: When it comes to saving money it can be tempting to ditch insurance policies altogether: but this is a false economy if ever you’d need to make a claim. So instead just make sure you’re getting all the cover you need at the right price, by using comparison websites to shop around for car insurance, home insurance, life insurance and so on.
– Spend money and save money: Finally, don’t forget that even when you have to dip into your wallet there is still opportunities to save. By using a price comparison service you can get better rates on CDs, books and DVDs; and by taking advantage of voucher codes you could slash the price of items you were going to buy anyway.