Let’s face it, saving money can be hard but we all need to do it, that ‘rainy day’ will come when your car breaks down, the roof starts leaking or a pipe will burst. We all know how hard it is to make ends meet, especially in these economic times when jobs are at risk and there’s a sense of gloom in the air, if we didn’t have foresight or we’re not lucky enough to have income protection insurance , then we’d be in big trouble, so we need to make sure to plan ahead and save. Here are a few money saving steps you can take so that if that time comes you can relax and not panic.
Make sure you’re getting the best interest rates on your bank account. It sounds so simple but lots of us seem to just be going with the easiest option. Interest rates are rubbish at the moment, but some are still better than others. If you don’t have a lot of time to shop around and compare for yourself then then head online and use a comparison site, all the hard work will be done for you – You wouldn’t get a car at the first asking price, so why would you do that with your bank account?
Get on top of it
Try to put aside a part of your income each month to make sure that you’re secure for that ‘rainy day’. It’s usually recommended to save 10-25% but if you can’t do that don’t worry even just a couple of pounds can help for that rainy day.
Empty your purse
Get a penny jar- it sounds simple but all that loose change can build up. If you make it routine that at the end of each day all your coins, no matter how big or small, are put in the jar you can end up with quite a lot – Break it open once a year and count it up, maybe even get the children to help and give them a lesson about how valuable their pennies can become.
Ask your boss
No one plans an illness so we’re not always prepared when it happens. Ask your employer if you’re covered under any type of group critical illness insurance scheme. Not only do they cover you but they usually cover your children until they’re around fourteen for no extra cost. Even if they don’t have one it’s worth finding out isn’t it?
Have a ‘staycation’
Instead of a holiday abroad this year, why not stay at home? Children are easily entertained so why spend all that money on an expensive beach holiday abroad when they’d be just as happy closer to home. Pack them in the car and take day trip to a zoo, a children friendly museum or even an adventure or safari park. Even with the petrol money and admission fees you’ll save a lot more than you would have otherwise.