14 quick and easy money saving tips for 2014

Here are 14 quick and easy money saving tips for 2014.

1.   Set a realistic budget – the first thing to do is gather all of the information about your income and outgoings and create a realistic budget. Be honest, don’t set yourself goals you know you won’t stick to!

2.  Set up your profile on cashback sites – so that any payments are sent directly to a savings account rather than your current account.

3.  Always search online for cheaper products – when shopping for any new items take a note of the item and brand – then go online and see if you can find it cheaper. Users of discount code sites like www.discountvouchers.co.uk save on average £1200 a year.*

4.  Go over your accounts thoroughly – and check you are not paying for things you don’t use anymore, such as expensive gym memberships or magazine subscriptions.

5.  Build up some small savings you can turn to when something unexpected arises – emergency dental work, new tyres for your car or an extra bill you’d forgotten about are payments that won’t wait.

6.  Set up a monthly payment you can afford that goes straight to your saving account and treat it as a bill that has to be paid – train yourself to view it as another bill and it will soon begin to flourish.

7.  Check for old savings accounts – lots of people forget about money they have stored away in old accounts they no longer use. Have a look at yours and transfer any forgotten funds straight into your savings accounts.

8.  Buy your groceries online – so you are more likely to buy only what you know you need and you are not tempted by ‘buy one get one free’ and ‘3 for 2’ offers, that soon start adding up.

9.  Make sure you’re not the only member of your household concerned about budget – if you are working as a team everyone’s efforts will count.

10. Keep a record of your spending and make sure you stick to it. When you see your spending in black and white you will easily be able to identify areas where you can make savings.

11.  When getting your hair cut make sure you shop around. Most cities have walk in hairdressers that cost just £10 instead of an average price of £45 per visit – saving you £280 a year.

12.  If you have to use credit cards, get yourself a cash-back card. Amex currently run a 5% cash-back for the first 3 months and 1% for each month thereafter.

13.  Call all of your bill suppliers to see where you can make savings. Check on comparison sites to see the current best deals with energy providers.

14.  Consider cancelling expensive satellite or cable TV packages and look into a streaming box. If you need the broadband, get a dongle or change your phone to a tariff with unlimited tethering.

*Halifax Survey 2011

About the provider of this advice: Kathryn Wright, director at money-saving website www.discountvouchers.co.uk gave advice on how you can kick your finances into shape in 2014.