For parents, money saving is always at the top of the list of priorities. Whether welcoming a newborn into your lives, or dealing with a troublesome teenager, money is always a concern. Here are a few tips to give you some added assistance.
Put something away
It’s imperative that you put something away each month to fall back on, just in case you need it. Whether you’ve got enough to meet your ISA allowance each year or perhaps you’ve even thought about opening a stocks and shares ISA, whatever savings level you’re at it’s vital you have some savings in place.
Even if you’ve not got enough coming in to open an ISA, you need to try and put something away. An easy access savings account could be your ideal solution when you first start saving. You can deposit and withdraw whenever you want.
Think of their futures
Saving for the here and now is important, and for a few years down the line. But what about their long term futures? Have you thought about putting something away specifically for them when they become adults? Now might be the time to look for the best junior cash ISA and start putting plans in place.
But how do you start cutting costs to actually put something away?
Shop around
How much do you spend on the weekly shop? Simply by shopping at a budget supermarket is one of the easiest ways to cut down on a significant expense. You might now want to do it at first, but you can get many quality products for a much cheaper price. You’ll be surprised how much you can save.
Change up your monthly payments
Start by writing down all your monthly expenses in terms of gas and electricity bills, home and contents insurance and such like and get online and start comparing. In terms of insurance, if you automatically renew, you’ll often be paying over the odds. By switching, you’ll most likely be able to find a better deal, which can save you considerably down the line.
Check your entitlements
The law on child benefit may be changing, but that doesn’t mean you’re necessarily going to lose out completely. It’s important to be aware of any benefits you may be entitled to.