All round the globe, people are beginning to find it difficult to cope with the Financial Climate in their Country. Below are practical ways I have found useful to save money.

• Credit Cards - I used to have 4 Credit Cards and have now limited it to 2. Also, when I go out I don’t take a Credit card (just a Debit Card) so when there is a temptation to spend, I remind myself that I don’t have aCredit card on me.

• No Standby’s – Before sleeping, all electrical appliances are switched off, except the Fridge and the Boiler. Nothing left on standby. This reduces electricity bills.

• Bulk Shopping - Buying in Bulk. This is cheaper and obviously lasts longer.

• Entertainment ­- For Satellite, No more monthly payments. I got Freeview, which is a one-off payment. It’s a Digital box that has more channels than Terrestrial TV and less channels than Satellite. (still has CNN, Sky News, music channels, drama etc.) Its about £20 - £35. No monthly fees.
• Cooking on Large Scale – Cutting down on Take Away’s. E.g Chinese Food, Pizza’s. I tend to buy this on my way from work because I’m tired to cook. At weekends, I cook on a large scale and store it in plastic containers in the Freezer. Before I go to work, I’ll put one in the Fridge to defrost and all I have to do when I get home is warm it up.

• Analysing Expenditure – To analyse spending, I prepared a Spreadsheet on Excel that helped me monitor my expenses. See a copy of my simple spreadsheet below. I have deleted all the figures but it gives you an idea of how to prepare one. The spreadsheet will automatically add up the Totals for you. If you are not able to prepare one, email me and I will send you a copy which you can adjust to suit you.

• Shopping Lists – After analysing my expenditure, I noticed I was spending a lot on Groceries. I set myself a limit on weekly shopping and decided not just to have a shopping list, but to stick to it when shopping.

• Bonds – No more spending £2 on the lottery every week. I bought Premium bonds from NSI (National Savings and Investments). They hold a prize draw every month with a £1 Million Jackpot. You buy a minimum of 100 bonds for £100. These are entered into monthly draws and you could win a Tax-free prize. However, if you don’t win anything, you don’t lose any money. The money (your bonds) is put in the next monthly draw. That way its intact and you can withdraw your money any time.

• Hairdressing – Most of the time my friends do my hair for me. Vice Versa.

• Packed Lunches - Less visits to the Staff Canteen. Most days I take a Sandwich or small packed lunch. It might not seem a lot of saving, but try putting £2 (or the equivalent in your currency) in an envelope everytime you take a packed lunch to work. In 4 months, you’ll have at least £100 in that envelope.

• Car Wash - I no longer take the Car to the Car Wash. If I’m free on a weekend, I’ll wash it and sometimes I’m lucky to have a friend who washes it for me.

• Wardrobe – I don’t buy shoes and clothes every month, unless there is a real need to.
• Break down Cover - I changed my Break down Cover from the AA to RAC as AA was increasing my premium every year.

In recession, a lot of people have gone on to get a second job, which is fine but I personally have found that if I keep to what I do above, there should be no need to get a second Job and work all the hours God sends. It’s all about Planning and Discipline.