For many, the new year can be daunting when looking ahead at a whole year of new finance challenges. Also, January itself. Christmas has just been and gone and that time between December and January’s pay cheque seems to be even longer than microwave minutes. Some see it as an opportunity for change, as we know them, New Year resolutions. This can be something to better yourself, a new hobby, a healthy habit to uptake or a chance to review and change your financial situation in a positive way.
We’ve put together a few money saving tips to aid you in the new year.
- 1. Saving accounts – start putting some money aside as and when you can. Putting little bits into an ISA or savings account each month quickly adds up and it is then there when you have a bigger purchase or payment to make.
- 2. Pay your utility bills through direct debits as you may be eligible for discounts from your provider for doing so.
- 3. Discounts are your friend – no one hates using discounts and saving money. So why not do it all year round? My VIP Rewards has over 5,000 for you to take advantage of with our users saving on average between £40-£60 per month.
- 4. Ignore the name tag – yes, we can all be tempted by the big named brands on the odd occasion but we shouldn’t be. Buying off branded items is a lot more cost effective (in most cases) and quite often, they are the exact same product but just with different names on them.
- 5. Pay your credit card on time – interest can be a stinker so it’s important to try and pay off the minimum each month and a little bit extra if you can to avoid interest being added. Also, try and pay off your credit cards with the highest interest first if you have multiple credit cards being used.
Stay tuned for our next blog with more money saving tips to help you with your finances in 2022.
To get access to My VIP Rewards’ over 5000 discounts for free for the first month, use code ‘LOVESAVING1’ at checkout and start saving now.