With the economic gloom showing no sign of lifting, stretching the average income to afford even the
essentials is a continual challenge. To pay your way, applying for a loan is one answer, but it’s always
worth looking at ways to pep up your finances without increasing your debts. So we’ve put together
five ways to help improve your financial health.
The internet offers far more competitive prices than high street shops, due to lower overheads. Always
use a price comparison checker before buying anything, and check for voucher and money off codes
before buying anything.
Set a Budget and Use Cash
Setting a strict budget is an obvious step, but to stick to it start paying for everything in cash. This will
both help you track your spending, and discourage you from spending too much.
Save Money on Credit
If you have good credit, consider transferring an existing credit card debt to a 0% card to save money
on interest. For other types of bad credit debt, consider a loan with a lower APR rate than your
existing rate, for paying off expensive payday loan debts for example.
Turn the Heating Down
As energy bills climb ever higher, turning the thermostat down by just 1ºC you can cut
heating costs by 10%.
Check for Benefits
Benefits are there for people with genuine need, so check your entitlement if you are really
struggling. Tax credits can top up a low wage, and housing benefit may help with rent costs.