What are the best 5 ways to save money?
1. Get rid of all credit card debts and loans first. Savings get less interest than you are paying on these! 2. Pay yourself first. This means put the money that you want to save into the savings account as soon as you get paid, so that you cannot spend it. Then you have to live off the rest for the month. 3. Spend less. Find somewhere cheaper to rent, or switch your mortgage. Buy cheaper brands in the supermarket. Plan you food shopping so you don’t throw anything out. Change your utilities providers (www.uswitch.com is great if you are in the UK). 4. For big purchases (like a dress, shoes, theatre tickets), think about it for a week, and decide whether you need it or want it. If you want it, do you want it more than the longer term goal you have of saving money? Is this fantastic new outfit more important than financial stability in your old age? 5. Where you save money is important. It depends on how much return you want and how risk adverse you are. Guaranteed returns happen with s
