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Back to School Savings: A Practical Guide for Wise Shoppers

August 25, 2023 By Erica Hughes This post may contain affiliate links

back to school buying stationery
Photo by Anton Sukhinov on Unsplash

As the time for the new school term approaches, the list of items to purchase – including school uniforms, stationery, and shoes – can sometimes put a strain on your wallet. But fret not, for I have a selection of tips and strategies to assist you in saving money whilst you’re shopping for those essential back-to-school supplies.

1. Making Smart Choices with School Uniforms

School uniforms can be a significant expense, but there are ways to ensure your kids look sharp without breaking the bank:

  • Hand-Me-Downs and Charity Shops: Reach out to friends and family for any outgrown uniforms. Charity shops are also excellent places to find gently-used uniforms at a fraction of the cost. Maybe ask on a local Facebook page.
  • Take Advantage of Sales: Keep an eye out for end-of-summer sales. Retailers often reduce prices on school uniforms as the season draws to a close.

2. Scouting for Stationery Deals

The allure of new stationery is irresistible and I’m a real sucker for it, but you can indulge without straining your budget:

  • Check Existing Supplies: Before heading out to shop, assess what stationery items you already have. Some supplies might still be in good condition from the previous year.  If you’re not careful, you might end up with drawers full of notebooks and rulers.
  • Bulk Purchases: Consider buying stationery items in bulk. This approach can often result in significant savings per item. Plus, it’s a long-term investment for future school years.
  • Online Price Comparison: Take a few moments to compare prices online before hitting the physical stores. Sometimes, online deals can offer better prices, and you might discover coupon codes for additional savings.

3. Managing School Shoe Expenses

Dealing with growing feet can be a challenge, but it needn’t be harsh on your budget:

  • Prioritize Quality: While branded shoes may be tempting, focus on comfort and durability. A well-made, unbranded pair can last just as long and cost considerably less.
  • Shop Out of Season: The best time to purchase school shoes is during the off-season. Consider buying for next year in spring or summer when clearance sales for winter shoes are underway.
  • Teach Shoe Care: Educate your children about basic shoe care practices. Cleaning and maintaining shoes can extend their lifespan, reducing the need for frequent replacements.

4. Excelling in Savings for Sports and Fitness Equipment

Sports and fitness equipment expenses can accumulate, particularly if your children are involved in school sports:

  • Secondhand Equipment: Explore local online marketplaces, charity shops, or even school notice boards for secondhand sports gear. Often, you can find gently used items at a fraction of the original price.
  • End-of-Season Discounts: If your child’s chosen sport has a specific season, be on the lookout for end-of-season clearance sales. You might secure significant discounts on gear for the upcoming year.

I hope these tips help you to breeze through your shopping list while keeping your finances in check. The key lies in achieving a balance between quality and cost-effectiveness. With a touch of ingenuity and a savvy approach, you can prepare your children for the new school term while maintaining your budget. Happy shopping!

 

Filed Under: Save Money

How to Pay Off Your Mortgage Early – 5 Easiest Ways

July 24, 2021 By Erica Hughes This post may contain affiliate links

Why You Should Pay Off Your Mortgage Early

The more you pay off your mortgage, the less you pay in interest over the years. It’s a simple concept, but something that many people overlook. Interest is one of the main ways we get charged for borrowing money and it can add up to a lot of money over time. The cost of interest can be as much as £1,000+ annually on a typical 30-year loan that has £200,000 in principal borrowed.  It’s money you don’t have to pay out, if you pay the loan off.

How to Pay Off Your Mortgage Early

  • Increase monthly payments or reduce your mortgage term

    A mortgage is a long-term loan that is usually paid off over 20-30 years. You can choose to increase your monthly payments by either paying more per month, or by choosing a shorter term.

    If you are considering doing this, we must first weigh up the pros and cons of changing the term of your mortgage. Here are some things to think about:

    Pros:

    Decreased interest payments, pay off mortgage sooner

    Cons:  increased monthly payments which will need to be budgeted for

  • Factor in a bigger mortgage deposit

    A deposit or down payment is typically the amount of money that the buyer pays for a home when they take out a mortgage. This money is put towards the purchase of the home.  A larger down payment often gives you the chance of a lower interest rates.  Crucially though by putting more of your savings into buying the house, you will have less to pay out in interest because you will have borrowed less.

Pros: Less interest

Cons: Takes longer to save up a deposit, need to make sure you have left enough over for fees, moving costs and any work the property needs.

  • Refinance mortgage with a lower interest rate and monthly payment

    Refinancing a mortgage is one of the best ways to save on interest and monthly payments.

    A refinance mortgage is a great option if you are not satisfied with your current mortgage provider. You can refinance the loan to get a lower interest rate and monthly payment for the same amount of loan or lower amount of loan than you have now.  If your mandatory payments are lower than previously, you could continue paying at the higher rate to pay off your mortgage early.

    It is important to note that there are fees involved in refinancing as well as appraisal costs, which might make it more expensive than just continuing with your existing rate.

  • Make lump sum payments to reduce your mortgage

    Making monthly mortgage payments over a long period of time can add up. By making lump sum payments, you can reduce the time spent making monthly payments and pay off your mortgage more quickly.

Pros: Pay off your mortgage sooner and reduce your outgoings as you go along (or continue to pay at the same level to reduce the mortgage even quicker)

Cons: Less flexibility for your savings as it’s not easy to get your money back out of the property unless you sell or remortgage (an offset mortgage can help with this)

  • Move to a less expensive property so you can be mortgage free

Either move to a smaller property or one in a less expensive area.  This is a great way of reducing or even eliminating your mortgage.  It’s a big step selling your home, but sometimes you need to think big (or smaller).

Pros: less debt

Cons: make sure you don’t end up spending more in other ways e.g transport costs

Filed Under: Save Money

Cheap and Healthy Food Ideas for the Family

July 22, 2021 By Erica Hughes This post may contain affiliate links

Cheap and Healthy Food Ideas for the Family
Photo by Ola Mishchenko on Unsplash

Introduction: The Importance of Eating Healthy on a Budget

This article will discuss the importance of eating healthy while on a budget and some tips for how to make this happen.  It will include cheap and healthy food ideas for the family.

Eating healthy doesn’t have to be expensive. You don’t need to go out and buy organic produce that is going to cost an arm and a leg. There’s plenty of good things to choose from in the veg aisle of your supermarket, at your local farm shop or even straight out of your garden.

This article will help you save time, money, and energy so that you can enjoy healthy food without feeling like it’s taking a toll on your wallet.

Tips for Eating Well at Home

Schedule your time to cook dishes ahead of time

When cooking food, consider making the dishes in advance and then reheating them or finish cooking them when you are ready to eat.

It is very important to plan your meals ahead of time so that you don’t waste time in the kitchen. There’s a number of things to keep in mind when planning and preparing your meal. For example, if you know that you will be gone for lunch, it would be a good idea to make your lunch before hand and pack it up. By doing this, you save yourself from having to worry about what to eat or trying to come up with an alternative solution.

Make a grocery list before you go to the store

Shopping for groceries can be a tedious task. Spend hours roaming the grocery store, hunting for the items you need and getting frustrated when you can’t find them. To make this task easier, make a grocery list before going to the store.

Stock up on staples instead of fresh produce

This is because produce is more prone to spoilage and it can be difficult to get produce in a blackout or emergency situation.  Staples like rice, pasta and tinned goods will last for years, so it’s difficult to buy too much of these things.

Fresh produce is often wasted because people often forget that they have it. Stock up on staples for when you need them most.  Then buy little and often for the produce.  That way you can make delicious dishes like stuffed peppers for all the family to enjoy.

Cook big batches and freeze leftovers

It is a good idea to make big batches and freeze leftovers. This way, you can save time cooking for later and have healthy, homemade food on hand.  This would allow you to enjoy these homemade meals without having to think about cooking from scratch every time.

Eat at home more often to save on restaurant bills

The cost of eating out is high. It can be anywhere from 10 to 20 dollars for one person at a restaurant. This is hard on some people’s wallets, especially if they are on a budget. Some days we do not have money for food and end up going to the restaurant because we are hungry and do not want to wait until we get home to eat.

The best way to save costs when eating out is by cooking more often at home. This will allow you to eat healthy and save money in the process. If you are still craving some restaurant food, try looking for coupons in your local newspaper or online deals sites so that you can find those restaurants that offer discounts on specific days or hours of the day when they are less busy.

Grow your own food

Having a vegetable patch and growing some of your own food is a great way to save money and eat well.  Give it a go even if it’s just a few herbs.  I love to use vegetables instead of carbs if I can as I do prefer to eat a low carb diet when I can.

So here are my cheap and healthy food ideas for the family I hope you found some good hints and tips.

Filed Under: Save Money

How to Improve Your Saving Habits and Save More Money

July 21, 2021 By Erica Hughes This post may contain affiliate links

Improve Your Saving Habits
Photo by Visual Stories || Micheile on Unsplash

Key Tips on How to Improve Your Saving Habits and Save More Money

Saving money is not easy. But it can be a lot easier than you think. Here are some of the best ways to do it:

– Get a budget and start tracking your spending. Make a list of all the important expenses that you incur in monthly basis and make sure that you are tracking them accurately.

– Track your spending for a couple of weeks to identify recurring and one-time expenses, so as to better understand where your money is going.  Once you know what you are spending, you can find ways to reduce that spending.

– Keep track of how much interest you are earning on your savings account, it will help motivate you to save more money in order to earn more interest.

– Instead of putting all the money in one place, try diversifying where and how much you put your money so that if something goes wrong with an investment, then at least some part of your savings are still safe and sound.

– Find ways to cut your costs like saving money on cleaning supplies.

How To Get Into New Saving Routine

We all know that it is important to save money for the future. But sometimes we fall into the trap of not saving because we feel like we are still young.

Save early, save often: If you are struggling to get started on your savings plan, think about starting small and then gradually increasing the amount that you put away each week or month. This will ensure that you do not give up too soon and start saving at a later stage in life when it is more difficult to accumulate wealth.

We all have our excuses for not starting a new routine, but there are some things that cannot be overlooked. Saving money will allow us to ensure financial stability in case of emergencies or potential misfortunes in the future.

5 Ways to Start a Savings Habit Today

There are five different ways to start a savings habit today. These five ways are:

-Start a savings jar.  This is a great way to get started quickly.

– Automate your savings.  Set up that direct debit or standing order and let your bank do the work for you.  This will make sure that savings don’t get forgotten.

– Pay Yourself First.  This is simply about taking the savings out before anything else.  You can do this after essential bills are paid if you like.  Take the savings out on payday and that’s the saving done for you.

– Start with an Emergency Fund.  We all need a bit of money to hand in case the washing machine breaks and needs a repair.  Ideally you’d want to have a few months salary saved up, but start small and make sure you can replace the appliances in your house if they break as your first goal.

– Get into the Saving Habit. Think about your spending to help your saving.  For a week or two question (in your head) every purchase.  Consider cutting out some expensive habits or switching to cheaper options.

Filed Under: Save Money

How To Move Out For The First Time

July 17, 2021 By Erica Hughes This post may contain affiliate links

Moving Out for the First Time – A Complete Guide to Moving On

Whether you’re a college student, recent graduate, or just looking to find your way in the world on your own for the first time, one of life’s biggest and most exciting adventures is moving out on your own. Moving out is an exciting transition into adulthood that will be marked by many firsts – from cooking meals to doing laundry. With so many new experiences awaiting you, it can be difficult to know where to start when packing up and preparing for your big move. This guide will provide some helpful tips for making the transition as smooth as possible.

It’s always a big decision to move out of your parents’ house, but in many ways it can be a good step in growing up. You’ll gain more independence and responsibility, which will help you become more mature.

Here are some tips to help you prepare and make the most of your independence:

1. Find a place to live that you can afford

The first step in finding a place to live is understanding the cost of living in a particular area.

The cost of living varies depending on where you are. Let’s take London for example, and you’ll see that it’s much more expensive to live there than in Leeds. The next step is to think about what places you want to live in and where they would be affordable.

2. Get your utilities turned on ASAP

Regular utilities include such things as electricity, water, gas, and internet service. Living without these things will be pretty miserable.

3. Avoid expensive furniture, appliances, and electronics at first

See if you can source some items from friends and family.  Often items will be sold or even given away for free on local facebook groups etc.  After that focus on the most important items first.

4. Keep your things clean

Your new home will seem less than attractive very quickly if you don’t keep on top of the cleaning.  Heavy use areas like the kitchen will probably need some attention every day.  For other areas like the bathroom, you’ll probably find once a week is enough.

5. Prepare your food in advance and use up leftovers quickly

One of the easiest ways to save money is by cooking more than you need. Cooking for one person is not always necessary, and it also wastes a lot of food. If you are cooking for one, make sure to prepare your food in advance so that you can use it up quickly.

Cooking for more than one person saves time overall and reduces energy consumption because you usually only need to cook once!

6. Organize before you pack to avoid stress during the move-in process

It is important to be organized before you pack your items. This prevents the hassle of packing and unpacking when you get to your new home.

Before we start packing, it is important that we organize our belongings into piles so that each pile corresponds with a room in our new home. The wardrobe can be one pile, the kitchen can be another pile, the living room can be another pile, etc.

While we are packing for our move, it is also important to keep in mind which basic essentials we will need on day one when we arrive at our new home such as toothpaste, toilet paper, soap and dish detergent. It also helps if you make a list of these things before you leave your old place so that you are able to quickly find them as soon as possible when

7. Take time for yourself every day by practicing self-care rituals and indulgence

Looking after a home of your own can be hard work, so make sure you look after yourself too.

8. Do your research

Make sure that the house or flat that you are planning to buy or rent doesn’t have any issues that would change your decision.  You don’t want to move into a place and find it has a rat infestation or that the electrics are faulty.  Maybe get someone more experienced with properties to come and take a look at your potential new home with you.

9. Have a side hustle

A side hustle is a great way to help save up a deposit for a house, but also for helping with the costs of home ownership.  It can be something small like doing some surveys, or something bigger like blogging or writing romance fiction.

Filed Under: Save Money

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About Me

Hi

I have a background in financial services and enjoy writing about all things money.  I like coming up with ideas to save you money and to earn you some extra cash.  More about me here. Get in touch via email. erica

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Copyright Erica Hughes 2021 Affiliate links means that sometimes if you click through to a website and register or purchase something, I get a commission from that sale at no extra cost to you. All opinions and reviews are my own.

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