Money-Saving Tips

May 7, 2022 | VA Services

There’s no denying that the cost of everything is going up, up, up… and Covid-19 hasn’t helped matters at all, with supply and demand issues. Feeling like we’re in a no-win situation? Here are some tips for saving money with your credit cards, shopping, and travel.

Credit Cards

If you have a store credit card or another credit card, consider a balance transfer credit card. These repay debts on other cards for you so you owe it instead but at 0%, meaning you’ll be able to pay the debt down quicker, and not pay interest. Learn more here.

If you spend with a credit card and always pay the monthly balance IN FULL, you would do well with a rewards credit card. These give you cashback or loyalty points, as long as you pay IN FULL each month – setting up direct debit to do this so you are less likely to forget. To get the most out of this card, do all of your spending using this card (being careful not to use it as an excuse to overspend), and pay the balance in full. If you don’t always pay in full each month, it’s not worth it, as the interest will make it less worth your while.

If you spend with a credit card but don’t always pay in full, look into getting a 0% spending card. These cards offer a number of months where no interest is charged on new spending, so if done correctly, this is the cheapest way to borrow, again, being careful not to overspend.

If you use your card for travel, consider a specialist travel card, which offers great exchange rates.

If you have a poor credit history or are new to credit, a credit-rebuilding card could help. These are designed for those with little or bad credit history and require you to pay the balance in full each month – which only makes sense as the interest rates for these cards are usually ridiculously high. Pay the balance in full and on-time to reap the rewards from this card.

Shopping

Online shopping has really picked up since the beginning of the pandemic, for obvious reasons. There are neat tricks to saving money that retailers don’t want you to know. Here are a few:

Abandon your shopping cart – if you choose items and put them in your online shopping cart, some retailers will send you a discount code to entice you to complete your purchase. To take advantage of this, simply add things to your cart (higher value items work best), and leave the site. Check your email within a couple of days – you may score a discount code.

Score free delivery from Amazon – Amazon only offers free delivery on its own goods (not third-party items) and only if you spend at least £20 (or £10 on books). The Super Saver Delivery tool scours Amazon for filler items that will bump your order up if you don’t have the minimum amount to qualify for free delivery. For more Amazon tricks, click here.

Shop on the right day – If you come across something you want to purchase online but can’t find a discount code for it, try waiting until Tuesday or Wednesday, then check a tool like this Discount Vouchers page.

Travel

With travel slowly opening up, but the costs high, you may be wondering how you can travel on the cheap. Here are some ideas:

Driving and saving money on petrol

  • Make your car more fuel-efficient. Keep tyres inflated, declutter your car, remove roof rack, don’t fill up all the way, save cruise control for motorways.
  • The harder you press on the accelerator, the more fuel you use.
  • Find the cheapest petrol prices in your area using PetrolPrices.com. Register and enter your postcode, then tell it how far you’re willing to travel for fuel. It will list the cheapest filling stations closest to your location.
  • Use loyalty schemes – most petrol stations offer some kind of savings in exchange for loyalty.
  • Pay using a cashback credit card to maximize your spending

Cheap flights

  • Book as early as you can. While last-minute deals can be found, depending on them won’t get you off the ground. Find out when tickets are released here.
  • Take advantage of stopovers. While direct flights are always more convenient, sometimes indirect flights only add a couple of hours to your travel time, which can cut the cost.
  • Research cheapest deals ahead of time – try using these sites: Jack’s Flight Club, Holiday Pirates and Secret Flying.

Don’t have time to research insurance rates or flights? Please do get in touch.  Drop me a message on shirley@virtualofficebox.com 

I’d like to credit Martin Lewis, Money Saving Expert, for some of the information within this post.

 

Shirley

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