P&G Booklet

HOUSEHOLD

BUDGET Guide Sport writing in a league of its own

Sport writing in a league of its own

2013

Sport writing in a league of its own

Brought to you by Irish Independent in partnership with Procter & Gamble

04

Sport writing in a league of its own

HOUSEHOLD

BUDGET Guide Sport writing in a league of its own

Sport writing in a league of its own

2013

Sport writing in a league of its own

Sport writing in a league of its own

Brought to you by Irish Independent in partnership with Procter & Gamble

Sport writing in a league of its own

Contents

04

Get your finances in to shape for the New Year

06

The house always wins

08

Making cents of your grocery bill

10

Your 2013 budget planner

12

Conserving your energy

14

A TV guide to saving money

As Budget 2013 begins to take effect, many households across Ireland will be feeling the financial strain. By making simple but effective changes, you can reduce your overall expenditure When it comes to the average family’s outgoings, paying for the roof over their heads is undoubtedly one of their largest expenditures. So how can savings be made in this area?

From food to household products, with a little preparation you can save money on your grocery bill Fill in this handy budget planner to keep track of your finances Top tips for saving some real money on your energy bills Entertainment bills can take a big chunk out of our monthly budget, but by following a few simple tips, money can be saved without compromising on quality

16

Healthy finances

18

Sweet relief

19

12

Credits A BeCreative Editorial Production www.becreative.ie EDITOR

Tara Leigh tara@becreative.ie CONTRIBUTORS

When it comes to home, motor and health insurance shopping around can save you money There are numerous ways in which tax relief can be achieved that most of us are unaware of but that could save us a fortune

Emma Hill Mark Corcoran ADVERTISING

Eoin Healy (01) 7055 403 ehealy@independent.ie DESIGN

INM Design Studio studio@production.ie

Ten top ways to save!

Our top tips for saving money in 2013

REPRO

Independent Newspapers (Ireland) Ltd 27 - 32 Talbot St, Dublin 1

3

Get your finances into shape for the New Year When was the last time you examined your finances? With people across the country beginning to make New Year resolutions, now is the time to take stock of your incomings and outgoings.

Whether your household income has been reduced considerably from last year, retirement is on the horizon or you are expecting large outgoings in the near future, you need to ensure your money is working as hard as possible for you.

In this supplement, we take a look at how Irish households spend and offer great tips on how to make savings in 2013!

BALANCE THE BOOKS The first step to take when reviewing your finances is to work out what your families take-home pay is. Next, add up what you are spending. One of the most effective ways of controlling what you are spending is by completing a monthly budget. This way, you will be able to see where exactly your money is going. Turn to pages 10 and 11 of this supplement to find a handy budget planner that will help you take account of your income and expenditure.

If having completed your budget you discover that you have more going out than coming in, don’t despair. This supplement is packed full of tips and advice to help you make savings throughout 2013!

Sport writing in a league of its own

As Budget 2013 begins to take effect, many households across Ireland will be feeling the financial strain. By making simple but effective Sport writing in a league of its own changes you can reduce your overall expenditure.

Sport writing in a league of its own

latest dates that data is available, for Irish households was €810.61.

The findings showed households are spending a large proportion of income on housing (mortgage and rent), up from 12 per cent to 18.2 per cent. Expenditure on food accounted for 16.2 per cent (down from 18.1 per cent in the 2004-2005 period) and the average weekly expenditure on fuel and light increased by 15.3 per cent to €35.35.

As housing expenses, grocery bills and energy usage are the biggest costs for most households, pages 6, 7, 8, 9,12 and 13 of this supplement look at practical steps you can take to cut costs in these areas.

SHOP AROUND FOR A BETTER DEAL With research showing that many of us are paying more than we really

HOW TO CUT COSTS According to findings published by the Central Statistics Office, the estimated average weekly expenditure in 2009-2010, the

need to on various services, by switching your providers or taking a closer look at your policy you could make real savings. Turn to pages 16 and 17 for our in-depth look at improving your finances.

TAXING TIMES One of the most talked about changes in Budget 2013 was the removal of the PRSI free allowance, meaning that employees will see larger PRSI deductions being taken out of their wages.

On page 18 of this supplement we run through all of the tax breaks you may be entitled to but are currently not availing of.

SAVINGS AT A GLANCE Looking for more saving suggestions? Turn to page 19 where you’ll find our top ten tips for breaking bad habits and spending your money more wisely.

Food

16.2%

Alcoholic drink and tobacco

4.9%

Clothing and footwear

4.9%

Fuel and light

4.4%

Housing

18.2%

Household non-durables

2.0%

Household durables

3.7%

Transport

14.3%

Miscellaneous goods, services and other expenditure

31.3 %

Information obtained from the Central Statistics Office

4

Sport writing in a league of its own

Sport writing in a league of its own

Sport writing in a league of its own

When it comes to the average family’s outgoings, paying for the roof over their heads is undoubtedly one of their largest expenditures.

So how can savings be made in this area?

The house always wins When reviewing the payments that must be made in any household, mortgage repayments and rent generally come out on top as the most unavoidable costs - and are generally the largest. While this expenditure can rarely be avoided, homeowners and tenants still have options when it comes to making savings when paying for housing.

MANAGING YOUR MORTGAGE While banks and other lenders are tightening their belts in recent years, most readers of this section will already have an existing mortgage. But this does not mean that payments must remain the same or that negotiations cannot take place.

If you are struggling to make room in your budget for the full cost of your mortgage repayments, including interest, there are a number of steps you can take. Begin by going to your lender to renegotiate a better rate of interest. Lenders are open to being approached in this regard, especially in a time when many of their customers are regularly missing payments. While this is not guaranteed to succeed, if you don’t ask you will never receive.

6

Consider refinancing by shopping around for a more competitive rate. Refinancing involves paying off your mortgage in full with a loan from a second lender who offers a more attractive rate than your existing lender.

However, if you are lucky enough to have a tracker mortgage, where the rate of interest tracks that of the European Central Bank, think twice about giving that up in order to refinance.

And if you are considering refinancing your mortgage, keep in mind the legal fees that will be incurred when changing lenders. The sum of these fees may be more than the savings being made on repayments, making it a pointless exercise.

Sport writing in a league of its own

If you are in a position to make additional payments on your mortgage, doing so will Sportreduce writing in a league its own theof length of time it takes to fully repay the loan, Sport writing in a league of its own meaning less interest will be paid.

REVIEWING YOUR RENT Similar to mortgage holders, tenants’ payments make up a substantial part of their outgoings.

But there are ways in which these costs can be cut without simply moving to a cheaper location.

But if you are in need of shortterm solutions to cutting costs, speak to your lender about modifying your loan. Lengthening the term of your mortgage, from 25 years to 30 years for example, will reduce the cost of your monthly repayments.

You can also speak to your lender about a period of interest-only payments, where you only pay the interest on the loan for a certain period, rather than repaying the actual capital.

Interest-only periods or payment

When viewing a house or apartment for rent, make note of the appliances and their energy efficiency rating. If kitchen appliances such as fridges and washing machines are old, you may end up paying over the odds on your utility bills.

When looking for a place to live, be aware that a weekly rent rate will be more expensive than a similar monthly rate. For example, if you find a potential home that is advertised as €200 per week, it is easy to consider this as €800 per month, adding up to €9,600 for a full year.

However, with 52 weeks in the year at €200 per week, the total rent on that house or apartment would actually be €10,400 per year, an additional €800 per annum.

7

holidays, where no payment is made for an agreed period, will allow those who are struggling to make payments the time they need to get on top of their finances.

However it should be noted that modifying the terms of your mortgage or taking periods of non-payment will increase the total cost of the mortgage in the long term. The longer you take to repay the loan, the more interest you will pay.

Finally, do not be afraid to negotiate with your landlord when renewing your lease. If your previous rent payments have been made in full and on time and you have kept the property in good condition, your landlord may be willing to reduce the rent in order to hold onto an ideal tenant.

Making cents of your grocery bill

Sport writing in a league of its own

Sport writing in a league of its own

Sport writing in a league of its own

From food to household products, with a little preparation you can save money on your grocery bill.

Your weekly shopping trip often accounts to a large part of your expenditure. According to CSO findings, 2009-2010 period, consumers spent on average 16.2 per cent, or €131.28, of their weekly expenditure on food. Add in your other household items and that’s a hefty sum.

The good news is there are plenty of small changes that you can make on your next trip to the supermarket that will help keep costs down without compromising on your lifestyle.

DO YOUR HOMEWORK Before you set foot into a supermarket compile a menu plan for the week. Then, make a list of everything you need and stick to it.

This is a great way to avoid impulse buying.

According to safefood, 30 per cent of the food we buy is thrown away. By making a list before you shop you also have a better chance of buying what you plan to use.

EAT BEFORE YOU SHOP We’ve all been there. You head for the supermarket with good

intentions but as soon as you step inside you are met by an abundance of sweet smelling goods and clever advertising. By avoiding shopping on an empty stomach you are less likely to load the trolley with items you don’t need.

PRICE IS KEY To ensure you are getting a good price on your goods it is vital to shop around. Visiting supermarkets’ websites is a great way to check what deals and offers are available.

8

BUY IN BULK When it comes to non- perishable goods, buying larger packets can often save you money. Buying larger sizes often gives you a smaller cost per use, allowing you to get the trusted brands you love and save. This savings tip holds true across your shop, from cleaning essentials to things for your family.

For those with small children, consider Pampers Simply Dry Jumbo Pack. Pampers Simply Dry offers mums great value, so your baby can enjoy the trusted dryness of Pampers while you

continue with your busy day.

Sport writing in a league of its own Pampers Simply Dry, with its ExtraDry Layer, is designed to deliver effective leakage protection – even under pressure!.

For more information visit Sport writing in a league of its own www.pampers.ie Sport writing in a league of its own

COUPONS MAKE CENTS Coupons which can often be found on the back of receipts, on websites (For coupons and tips visit www.supersavvyme.co.uk) and even in newspapers can save you money. However, it only saves you money if you are using them to buy products you need.

LOYAL CUSTOMERS Today, many supermarkets carry loyalty cards which enable you to accumulate points with every purchase. By signing up for these schemes you can often save money once you have accumulated a certain number of points.

Here are 4 TOP EXAMPLES of how to smartly shop your everyday essentials: On a recent trip to my local supermarket I discovered that a bottle of Fairy Liquid, a product that can be found in most people’s homes, lasts a long time. In fact, according to the company, one bottle lasts over ten weeks. (Calculations based on 870ml bottle. May vary based on consumption). For more information visit www.fairy-dish.co.uk

Another product that stands the endurance test is Lenor. Its range of fabric softeners offers up to seven times longer-lasting freshness*. The Lenor Infusions new range now has Perfume Micro Capsules (PMCs). PMCs are microscopic pockets of perfume which diffuse through your clothes and sheets during the wash & stick to the fabric.

These capsules then, with friction (like rubbing, hugging, towelling off, putting on clothes) burst and release the scent, providing you with a longer lasting freshness.

For more information visit www.lenor.com Another area that you can make savings is on razor blades. As razor blades are used daily they tend to have a low shelf life and if you are purchasing them on a weekly basis can be costly. However, there are alternatives available and improvements are being made all the time. The Gillette Mach3, for example, not only gives a smooth shave but one blade lasts up to three weeks!

For more information visit www.gillette.com

CLEVER SHOPPING When it comes to your household budget, it’s important to look at more than just the price. In certain instances, the products lasting power is much more important.

BE ECONOMICAL When choosing products such as washing powders, it is important to look at both the price and the cleaning effectiveness of the product.

If you buy a product that doesn’t offer a deep clean, you may need to re-wash your garments, causing you to use more electricity and water, and in effect higher bills. However, there are products on the market, that will do their job well. Daz, for example, gives a deep cleaning in just one wash.

For more information visit www.dazwhite.co.uk

9

*in storage vs. Lenor Pure Care.

YOUR 2013 BUDGET PLANNER : A Jan INCOME Income after tax Social welfare Children’s benefit Pension Other TOTAL INCOME EXPENSES Home Mortgage/rent Electricity Groceries/ food Heat/ fuel Internet Mobile/ landline phone TV Licence Digital TV Household maintenance Waste charges Other TOTAL INSURANCE Medical Life Care Home TOTAL DEBT Credit card repayments Personal loans repayments Credit card repayments Other TOTAL SAVINGS Savings Investments Pension payments Other TOTAL

TOTAL EXPENDITURE A

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

YOUR 2013 BUDGET PLANNER : B Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

Sep

Oct

Nov

Dec

Total

FAMILY Life insurance Health insurance Clothes School/College expenses Babysitting/crèche facilities Other TOTAL TRANSPORT Petrol/diesel Car tax Commuting costs NCT Servicing/ maintenance Other TOTAL LEISURE Alcohol / Cigarettes Holidays Entertainment/ days out Hobbies/membership fees Books/mags/newspapers Other TOTAL PERSONAL Clothes Beauty Other TOTAL

TOTAL EXPENDITURE B

COMBINED TOTAL PLANNER A+B Jan TOTAL EXPENDITURE A TOTAL EXPENDITURE B TOTAL INCOME WHAT YOU HAVE LEFT

Feb

Mar

Apr

May

Jun

Jul

Aug

Conserving your energy Top tips for saving some real money on your energy bills

Sport writing in a league of its own

Keeping the house bright and warm can be financially challenging at writingus in a league its own the best of times. As the effects of Budget 2013 loomSport over it isofnow more important than ever to save on our energy bills.Sport writing in a league of its own The Sustainable Energy Authority of Ireland (www.seai.ie) has many top tips that can help you to save some money.

HEATING TIPS HEATERS When buying heaters, make sure that they are the right size for the rooms they are to heat and that they have thermostatic controls.

Remember that, with the exception of storage heaters, electric heaters consume electricity at the most expensive charge rate.

CENTRAL HEATING Remember to turn off the heating overnight and when you are out during the day. Proper control and regular maintenance of your heating system can reduce fuel consumption by 10 - 20 per cent.

Turning down thermostats by 1°C can reduce annual space heating energy consumption by 10 per cent with an equivalent reduction in greenhouse gas emissions.

ELECTRICITY TIPS LIGHTING Remember to turn the lights off when leaving a room. Use “task” lighting rather than whole room lighting when a small amount of light is required. Regularly clean light fittings, reflectors and lampshades.

There are many types of lighting available for use in the home today.

All light bulbs are now labelled for efficiency so you can always check how efficient your chosen product is before purchase. The main

choice is between the conventional incandescent bulb and CFLs (compact fluorescent lamp). While an individual CFL may be more expensive, they last significantly longer (up to 10 times) meaning they actually cost less to purchase in the long run and they use only one fifth of the energy.

FRIDGE AND FREEZERS Don’t let frost build up in the freezer compartment as this increases energy consumption.

Remember to defrost and clean

12

the inside of your refrigerator and freezer at least every six months and make sure they are positioned in a cool place i.e. not next to a cooker or where possible not in the path of direct sunlight.

MICROWAVES In a microwave oven, arrange unevenly shaped items with the thickest portion to the outside.

Stir or turn the food over to speed up cooking time. Remember a microwave is more efficient than a cooker for reheating food.

Sport writing in a league of its own

HOT WATER HEATING Use the timer on immersion heaters. This should supply you with enough hot water as and when you need it.

Did you know that 80 per cent of the energy used during a wash is spent heating the water (for a cotton wash at 60°C)?

As a washing machine on full cycle uses up to 65 litres of water, it is a good idea to only

Sport writing in a league of its own

Sport writing in a league of its own

use it when it is full. That way, you will use it fewer times, conserve water and save money by reducing your energy bill.

One quick way to save power and money is picking the right

detergent. Ariel Gels and Ariel Powder cleans at 30°C which reduces the energy used in your wash by up to 30 per cent (compared with washing at 40°C).

What’s more, Ariel Excel Gel works as low as 15°C to further reduce the energy you use.

For further information visit www.ariel.co.uk

MAKE THE MOST OF YOUR BATTERIES Did you know that a third of disposed batteries can still contain up to 67 per cent of their original charge? What this means, according to Duracell, is that while batteries may appear to have ‘run out’ they may in reality not have enough power for high-drain devices such as camera flash units. However, there is more than enough power to run medium low-drain devices such as

toys, games controllers, television remote controls or alarm clocks.

To ensure no energy is wasted, Duracell’s Powercheck technology allows consumers to see how much charge is left in their batteries and is available across Duracell’s Ultra Power alkaline range.

For further information visit www.duracell.com

SAVE €500 A YEAR IN

Ï SIMPLE STEPS

According to the Sustainable Energy Authority of Ireland (www.seai.ie), by following these six simple steps, you could slice up to €500 a year from your energy bills. So how much can you save?

By lowering your Set the heat to turn on 30 ➊ ➍ thermostat by 1°C you can minutes before waking and save €8.33 a month or almost to turn off 30 minutes before

YOUR TOTAL SAVINGS

If you swap four regular bulbs ➋ Purchase A-rated appliances for CFLs (Compact Fluorescent ➎ and you could save €12.50 Lamp) you can save €1.66 a month a month or up to €150 a year. or approximately €20 a year.

As you can see, by following these top tips and making some minor changes to every day energy use (such as washing your clothes at lower temperatures, using the full life of your batteries and turning off your lights when they are not in use) you can save significant money every single week!

€100 a year.

bed and you could save €8.33 a month or roughly €100 a year.

Simply by switching your By ensuring that all ➌ ➏ appliances completely off, appliances (such as washing rather than on standby, you can machines and dishwashers) are full save up to €2.50 a month or €30 a year.

before use, you could save €8.33 a month or almost €100 a year.

13

Per month: €41.65 (0.43 tonnes of CO2) Per year: €499.80 (5.56 tonnes of CO2)

A TV guide to saving money

Have you ever thought “I have hundreds of channels but there is nothing I want to watch”? If you are paying a subscription for channels that you rarely watch, you should think about whether they are worth the money. A great place to start, in your quest to save money on your TV bills, is to contact your current provider and compare the different packages available to see if there is a cheaper package that might suit you.

The National Consumer Agency (www.nca.ie) offers a number of other helpful tips to aid you in saving money.

Entertainment bills can take a big chunk outSport ofwriting ourin a league of its own monthly budget, but by following a few simple tips, money can be saved without compromising on quality

Sport writing in a league of its own

Sport writing in a league of its own

up to most TV service providers online.

You will also need to tell your old provider that you are closing your account with them. Remember to check any contract you have with your old provider, as there may be penalties if you leave the contract early.

CHANGE TO SAORVIEW If you have a subscription service and feel you are not getting value from it, consider getting a Saorview (www.saorview.ie) set-top box which will give you free digital Irish channels. These can be purchased at any reputable Television retailer.

CHANGE YOUR PROVIDER Your current provider might not have the channels or features you want, or you may not be happy with their service. Check out other TV service providers in your area and compare their prices and service at www.uchoose.ie Switching is easy. Simply contact the new provider you want to get your TV services from and ask to open an account. You can also sign

14

CHANGE HOW YOU WATCH TV If you only watch a few TV programmes, consider watching your programmes from an approved channel online. Many TV channels, including the Irish ones, now make their programmes available to watch online through their website or “player”. You don’t need a TV or a subscription but you do need a computer or smart device, and preferably a broadband connection!

For more information visit www.nca.ie

Healthy finances When it comes to home, motor and health insurance shopping around can save you money. Is it time to get switching?

While we all want to be protected if something goes wrong, by not reviewing your policies regularly you could be making a costly mistake.

With many different providers and policies available you should not just assume your existing provider is offering the best price available. In fact, by shopping around and getting quotes from at least three different providers you could make great savings.

In November 2011, the National Consumer Agency published research looking at consumers’ experiences of switching providers over 18 categories of products and services, including electricity, car insurance, mobile phone service, TV, Broadband and banking providers. The research

BARGAINING POWER

!

If you are happy with your existing insurance policy but feel that the premium is too high it can be worth bargaining with your existing insurance provider. provider. Get a couple of quotes from different insurance providers as extra bargaining power.

Sport writing in a league of its own

Sport writing in a league of its own

Sport writing in a league of its own

found that 9 out of 10 consumers who switched car and home insurance had saved money, with the average amount saved on car insurance amounting to €102 and that saved on home insurance amounting to €84.

However, it is worth noting that

you should not just focus on price.

Different policies offer different benefits so it’s important to ensure that you are covered for what you really need. Below we take a look at considerations to make when thinking of switching insurance providers.

HEALTH INSURANCE Health insurance packages and costs can vary substantially so it can be worth getting quotes from the main health insurance providers to see what plan and price best suits your needs.

As health insurance contracts usually last 12 months, it is a good idea to review your health insurance policy each year. While you can switch providers at any time, some insurers charge a fee for doing so during the term of your policy, so it is a good idea to check the terms

of your contract before you make a move.

16

For more information on the packages available visit www.hia.ie.

MOTOR INSURANCE Sport writing in a league of its own According to the National Consumer Agency your insurance company has to send you a renewal notice at least 15 days before your renewal date, giving you the Sport writing into a league of its own chance shop around for the best policy.

Sport writing in a league of its own In addition to switching providers there are a number of ways to lower your insurance costs such as the level of driving experience you have, the type of car you drive (in most instances the more expensive your car, the more you will pay) and your no claims bonus. Your no claims bonus is a reduction in your insurance price based on the number of years since a claim was made. According to the National Consumer Agency, a full no claims discount usually means that your premium is about half what it would be with no discount.

HOME INSURANCE When it comes to home insurance there can be big differences across policies in terms of what is included and what is not. That is, just because you get a low quote doesn’t necessarily mean it is the best policy, so it can be worth compiling a checklist of what is important to you so you can decide on the best policy for you.

When reviewing the policies available it can be worth considering whether you can get a lower premium by combining both buildings and contents insurance into one policy. That said, contents and building insurance do not need to be bought from the same company so check all of the possibilities available.

It is important to insure your home and contents for the correct value. If you are overinsuring your home you could be paying out more than is necessary.

For insurance purposes,

➌

TOP QUESTIONS to consider before renewing your insurance policy: REVIEW YOUR ➊ OPTIONS REGULARLY Insurance premiums are constantly changing, so it can be worth checking regularly the prices available. Just because you have received a high quote from an insurance company previously doesn’t mean they won’t have discounts available at a later date.

it is the cost to rebuild the property that needs to be stated and not the market value of the home. For more information visit the Society of Chartered Surveyors Ireland on www.scsi.ie Under-insuring your home is just as big of a problem. If you under insure your home to save on the premium you will not be fully covered should you need to claim.

LEVEL OF ➋ COVERAGE It can be worth reviewing

the level of coverage you have on a yearly basis. As your situation changes you may be able to decrease your coverage and make savings. For example, when you bought your car it was worth a lot more money so you may have taken out a comprehensive insurance plan that is no longer required.

INSURANCE ➌ APPRAISAL Understanding the limits of

your insurance policy is also necessary. Take buying your Home Insurance for example.

The value of your contents adds up quickly so it’s important to have adequate insurance to cover items such as engagement rings and art.

17

Sweet relief

Sport writing in a league of its own

There are numerous ways in which tax relief can be achieved that most of us are unaware of but that could save us a fortune Unknown to many of us hard working tax payers, there are a number of ways in which we can reduce the amount of tax we need to pay which could add up to considerable savings.

For example, tax credits and relief are available for homeowners and tenants. If you live in private rented accommodation and pay income tax you may be eligible for tax relief on part of your rent, while those who borrow money to buy or improve their home may be eligible for tax relief on the loan interest.

This tax relief is called mortage interest tax relief and is taken into account by the mortgage lender who reduces the amount of regular repayments accordingly.

While there are a number of ways in which to lower the amount

Sport writing in a league of its own

Sport writing in a league of its own

of income tax paid by the gainfully employed, Revenue Job Assist is an additional tax allowance for people who have been unemployed for 12 months or more and are returning to employment.

Medical costs often count as a huge expense for families and are often unforeseen. But, if you pay medical expenses that are not covered by the State or by private health insurance, you may claim tax relief on some of those expenses.

Medical expenses that qualify for tax relief include the costs of doctors and consultant fees, items or treatments prescribed by a doctor or consultant, specialised dental treatment, routine maternity

18

care, and many others.

Tax relief or credits are available for people with disabilities which include people with an incapacitated child, people with visual impairments, as well as tax relief for employing a home carer.

Further tax relief is available for one-parent families, for older people, for some third-level tuition fees, and even for those who cycle to work!

If you are looking to make savings or make your money go that little bit further, research the array of tax relief that you could be entitled to on www.citizensinformation.ie and watch your savings grow!

Ten top ways to save!

Sport writing in a league of its own

Sport writing in a league of its own

Sport writing in a league of its own

SHOP AROUND ➊ This applies to everything from telephone and television

providers to house and car insurance and even the grocery shopping. Before you renew a contract, take a look around to see what else is on offer.

SET A GOAL FOR YOUR ➋ SAVINGS AND BE HONEST WITH YOURSELF There is no point making your goal ‘to be a millionaire by next year’! Really think about what is achievable and if you manage it, you’ll have the experience and confidence to go further next time.

DON’T BUY WHAT YOU ➌ DON’T NEED When it comes to insurance, we

are often over-insured without realising it. Take a good look at your policies to make sure you are not paying for cover that you don’t need. And don’t renew your travel insurance unless you have a holiday planned.

GET FREE ADVICE COLD CASH ➍ ➑ Most high street banks now Winter isn’t the only time offer free consultations on planning when heating bills can be a for savings, managing budgets, and the like. Check out your bank’s website first to see if they have an online planner, or make an appointment at your local branch.

problem. Remember to lower the temperature of your home heating when the summer months come in and you could save more than you think.

KNOW YOUR LIMIT ➎ When it comes to ad hoc purchases, such as presents for

USE COLD WATER ➒ FOR LAUNDRY A detergent that cleans in cold

birthdays, set a limit for your spending and stick to it.

INSTALL ENERGY-SAVING ➏ LIGHT BULBS Whether they are low wattage or energy-efficient fluorescent bulbs, these little points of light can add up to big savings on energy and costs.

TRAP HEAT ➐ Gas and heating bills can skyrocket in winter. Before the big

chill sets in, get your furnace in tiptop shape with a yearly service to ensure that it is running efficiently and not wasting energy.

19

water, such as Ariel Excel Gel detergents, will help you get clean clothes and a lower energy bill.

For more information visit www.ariel.co.uk

TAKE A PACKED LUNCH ➓ TO WORK AND SCHOOL This may sound obvious but you would be amazed at the savings you can make by doing this.

*based on R.R.P