Tag Archives: saving

Top 5 Money Saving Pregnancy Tricks

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By Layla Anna-Lee, English TV Presenter and soon to be mum.

pregnancysavingtips

Don’t buy a baby changing unit! A baby changing unit is literally a chest of drawers with a baby changing section on top and an extra zero added to the price. Proper padded anti-roll baby changing mats add the same amount of height to the sides of a mat that any changing unit would have. You must never leave your child alone on a changing unit or mat regardless. So don’t feel obliged to purchase overpriced units when your current chest of draws with a safety mat could be just fine! (Just make sure the chest of drawers is the right width for the mat and is strong enough to take the weight of a baby.) I bought mine from www.safetots.co.uk

 

Eco nappies.  In two years of a child’s life the average spend on disposable nappies is £1,800. The same stretch of time in reusable nappies is around £350 and if you are planning on having another child you can use them again saving yourself much, much more. Modern day Eco nappies are incredibly well designed, there’s no need for old fashioned soaking and can be washed at 30 degrees. Of course washing adds some expenditure but even then it’s less than all the bin liners and nappy sacs you’ll be needing for those disposables. Not to mention the cost on your conscience that disposable nappies are the largest single household contributor to landfill sites. I bought mine from www.totsbots.com

 

The Baby Show! Get your ticket, get there early and don’t leave! This was my favourite shopping spot of all. So easy to compare a huge range of baby products all under one roof and so many incredible discounts. I had purchased my buggy before attending the show then saw the exact same one at the show with over £200 off – That’s a pretty impressive discount and at The Baby Show discounts like that are everywhere. There are a variety of invaluable talks to attend, such as first aid and breast feeding talks are included in the ticket price. If you’re a savvy haggler stay right until the end and you might get even more taken off the price tag as exhibitors don’t want to pack up all the stock to travel home. The next show is taking place at Kensington, Olympia from the 23rd-25th October: www.thebabyshow.co.uk

 

You don’t need a cot straight away. When looking to save money sometimes timing is the answer and when choosing your cot you have time to get it right. A baby can sleep in a Moses basket up until around 3 months or until the baby can sit up or roll. This means  there’s no rush, you can wait for a sale, a hand me down from a close friend or indeed simply take your time to make sure you’re making an educated purchase. Mine is from www.mobauk.com

 

Don’t be afraid to ask for things you actually need. Everyone loves buying presents for a new baby. Whether it be an excited mother in law or if you’re throwing a baby shower. It’s important to be honest because your friends really do want to get you something you will actually use. If you don’t need 45 hats and another plush bunny rabbit then just say so! Make a little list of what you need and let your loved ones help you, it truly makes the world of difference.

 

 

 

The Wealthy Women: A Man Is Not a Financial Plan. Mary Waring Interview

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The Wealthy Woman: A Man is Not a Financial Plan: A Woman's Guide to Achieving Financial SecurityWe interviewed The Wealthy Women: A Man Is Not a Financial Plan author Mary Waring. She had some great advice to give and has also written a great book that every women should read. In the meantime, pick up some tips in our interview with her.

 

What made you write the book?

I’ve come across so many very bright women who have an issue with maths and finance. My theory is that the way it is taught in schools is much more suited to a typical male brain rather than a female brain. (I obviously don’t have a typical female brain!)

So many bright women have a mental block about maths and dealing with their finances. I decided therefore I’m would write a very down to earth, no jargon guide to looking after your finances and improving your wealth.

Are women worse than men when it comes to finance?

As above, I think women tend to put it very far down the list of priorities. They look after the house, their partner, the children etc but very far down the list is looking after themselves. In addition only about 10% of advisers are female. The typical adviser is male, middle aged, grey hair, grey suit. There’s absolutely nothing wrong with that but many women are looking for someone different and may be struggling to find a female adviser.

Do too many women still rely financially on men?

I think a lot do. The female often looks after the house and the children and all the general housekeeping issues. The male often looks after the finances. In any relationship it’s sensible for one person to look after the finances, and in my experience that is often the male. The woman does not play an active role in the finances and if worst thing happens and they get divorced the female is totally at a loss as to how to look after herself financially. A number of women also assume their husband’s pension will cover both of them in retirement. But this may not be the case.

What are women’s financial strengths and weaknesses?

Strengths- very good at following a set procedure once it’s explained to them. They’re not as competitive as men as a rule so do not need to “beat the market” with their investment return. They’re looking for a steady investment growth. They’re happy to take advice and happy to admit if there’s something they don’t understand.

Weaknesses- lack of confidence regarding finances and tendency to stick their head in the sand rather than deal with it.

What can women do to help themselves financially?

If their partner deals with the finances make sure they sit down on a regular basis and discuss the finances: how much money comes in each month, how much gets spent and what on. Discuss what savings, investments and pensions exist.

If they deal with the finances themselves, then start to look at what they are spending against what income is coming in. They must start to plan for the future and consider what income they will need/want in retirement.

What pitfalls should they look about for?

If something goes wrong (e.g. a large unexpected bill) don’t give up and think the plan isn’t working. Keep at it.

What is the best way to save?

The best way to save is to have a regular amount come out of your account each month by standing order or direct debit. Have that money come out of your account before you start spending. Frequently people wait until the end of the month and decide to save what’s left in their account. But all too often there’s nothing left. If the saving happens before spending it often won’t be noticed that there is less to spend.


Best way to get out of debt?

The best way to get out of debt is to do a strict budget so that you can pay off as much as possible of the debt as quickly as possible. Interest on debt increases at a huge amount so make an effort to get the debt paid down by always paying more than the minimum.

Best way to get wealthy?

The best way to get wealthy is to make that your priority and then each day take some small steps towards achieving that. Too often this looks like too big a challenge but it’s the small steps on a regular basis that can really help your wealth. Choosing to eat out at a much cheaper spot than you would normally use will not make any difference to your wealth if you do it just once. But if you do this on a regular basis so you can save more, then over time it will make a difference.

Top financial tip?

For a period of 3 months keep a very detailed record of what you are spending, including everything that you pay for in cash. Carry a notebook around in your handbag so you can note it down straight away. Look at this in detail and ask yourself “How can I reduce this cost?”. You’d be surprised how much we all overspend without being aware of it. Until you know what you’re spending your money on you are not in a position to do anything about it.

Thank you Mary.

The Wealthy Woman is available from Amazon and is reviewed here.

 

Sneaky Wedding Costs You Need to Look Out For By Melissa Davis

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Wedding First DanceAlthough your wedding day is supposed to be one of the best of your life, the large cost can often mar this otherwise happy occasion. In the early stages of planning a wedding, the smaller details often get forgotten and the cost can sneaks up on you, making the overall price of the wedding unexpected and often damaging. However, there are ways and means of reducing the overall cost of your wedding and making your special day affordable. Considering the hidden wedding costs you may incur is a positive start in ensuring your wedding remains within your personal budget.

Making a list and using online resources to research the smaller aspects, which you may not have initially considered, will show you where your money can go and how much of it can go there. This will allow you to then find cheaper alternatives to lighten the financial load further. For example, although brides often think of their wedding dress, they rarely remember that alterations often have to be made. Similarly, bridesmaids’ dress and the groom’s tuxedo may need amendments right before the big day. These minor adjustments may seem small, but will set you back money and add up to a considerable amount when added to the multitude of other wedding costs. To prevent costs such as these from sneaking up on you, simply research, estimate the price and factor this into your budget.

 

Keeping track of all the different costs involved in organising a wedding can be tricky, particularly when there are so many hidden expenses that can sneak up on you when you least expect it.

Creating a budget that includes all of the most commonly forgotten wedding costs can help you to avoid last minute problems and make big savings.

Start with a wedding budget

A thorough, realistic budget is the best tool for preventing forgotten, unexpected and unnecessary costs from sneaking up on you during your wedding planning.

Work out how much you can afford to spend in total, make a list of everything you need to sort then decide how you’ll divide your wedding budget.

Try to make your list as detailed as possible, and ensure that you set aside enough for each item. Recently married friends, wedding magazines and websites are all good sources of advice.

Suddenly realising that you forgot to budget separately for the bride’s shoes, veil or accessories after you’ve spent your money on an expensive dress is exactly the sort of stress you want to avoid as your big day approaches.

You should also look at prices or ask for quotes early on to ensure that the money you set aside for each cost is realistic.

Wedding costs everyone forgets

However carefully you plan your budget, there always seems to be something extra that needs to be organised and paid for before the big day arrives.

Here are some of the most frequently forgotten costs – make sure you remember to include them:

  1. Registration costs to make your marriage official.
  2. Stationary and postage costs for sending save the date cards, invitations and thank you cards.
  3. Accessories and alterations to suits and dresses for the wedding party.
  4. Including the bride and groom in the head count for the reception.
  5. Favours, thank you gifts and tips.
  6. Extra charges on your bill from venues and suppliers, including delivery fees, corkage, VAT, overtime and service or cleaning charges.
  7. Printing and framing photos, and buying wedding albums.

Deciding what to spend

Once you have a list of everything you need to pay for, you can start deciding how much you want to spend on each item. The way you do this should depend on your overall budget.

If money truly is no object, you can simply start arranging.

If, like most people, you have a set amount of money to spend on your wedding, perhaps from your savings or a parental contribution, you should start from this upper limit and divide it into portions for each of your expenses.

You can easily create a spreadsheet, or adapt a general expenses template, to monitor your spending. Keep track of any overspends, which you should try to make up for by spending less on other items, or underspends, which will give you more to spend elsewhere.

If you’re trying to keep costs to a minimum then prioritise your list into must-haves and maybes so that you can make sure you can afford the aspects that are most important to you before paying out for things that are ‘nice to have’ but not essential.

Avoiding unnecessary wedding extras

If you are working with a limited budget, it’s possible to make some cuts to the normal list of wedding necessities.

For example, if you can choose a venue where you can hold both the service and the reception, you might be able to get a better deal, and you can also cut down on transport costs.

Weddings held out of peak season or on any day other than a Saturday will usually be cheaper because there’s lower demand so this is worth investigating.

It can also be a good idea to look closer to home for your venues, since you can avoid high travel costs or needing to pay for overnight accommodation.

You might also be able to cut down costs by limiting the number of guests you invite – either in total or just to the wedding breakfast. Having a buffet and/or a pay-for-your-own-drinks bar can also help.

You can always give people the chance to celebrate with you at a distance with a live online broadcast of the event, no matter where the wedding takes place.

Another good way to cut down on your costs is to consider doing more of the work yourself or asking friends or family to gift their time as a wedding present.

Why pay for ready-made wedding favours when you can put together something more personal at half the cost? Why spend your wedding day in an anonymous hotel when you have a huge garden where you could put up a marquee and celebrate in a place that means something to you?

Minimising unexpected costs

To give yourself a little leeway make sure you set aside an amount to cover unexpected costs, ideally about 10% of your total budget.

If one of your suppliers lets you down, an unexpected guest turns up, something is broken or turns out to be unsuitable, or the weather forces you to change your plans, you need to have some emergency funds available to deal with it. Another option is to take out wedding insurance to cover some of your major expenses.

It might not be possible to avoid all unexpected costs, but at least you can be prepared for them, and if it turns out that you never need to use this money, it can give you something extra to spend on your honeymoon.

The wedding price hike

Another particularly sneaky cost that you might not expect when you set out your wedding budget is the sudden bump in prices that can occur as soon as you mention that you’re ordering for a wedding.

It doesn’t matter if you are ordering flowers, a cake, or transport, as soon as suppliers find out it’s for a wedding, they often assume you can easily be coerced into spending more to make your day perfect.

One of the best ways to avoid this sneaky extra cost is to tell some little white lies and order things for a “party” rather than a wedding.

It might not work if you want a traditional tiered wedding cake, but if you are looking for something less conventional, or ordering something non wedding specific, it could help you to get some lower prices.

Snap-Happy Brits Take Over 600 Million Photos a Week

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20130714-132550.jpg·         The UK is a nation of snappers taking over 600 million photos every week

 

·         52% of Britons take photos on their phones and store an average of 180 pictures on their devices

 

·         Around 1 in 5 snappers have lost photos due to a broken device, 5% due to a stolen device and around 3 in 10 Brits do not back up their digital photos

 

·         People (51%), landscapes (19%) and animals/ pets (11%) are our favourite subjects

 

Thanks to smartphone, tablet and digital camera technology, image hungry Britain now takes an average of over 600 million photos in the week. According to an online study commissioned by SmugMug* the world’s largest independent photo sharing website, which launches to the UK public this week, most of our snaps feature our friends and family, followed by our beautiful countryside with our pets coming in third.

 

With the advancements in technology, our photography habits have changed irrevocably resulting in a photographic Tsunami. The online survey found that Brits take a mean average of 19 photographs in an ordinary week (not taking in account holidays or special occasions). With 47.75 million* adult residents in the UK, that’s a lot of photos – SmugMug estimates over 600 million in fact**.

 

Over half of Brits online (52%) take photos primarily on their phones and 32% keep them there. Of those that do an average of 180 photos are currently stored on their mobiles.

 

Yet when asked how many of us had lost images due to a broken (21%), stolen device (5%) or human error (30%), 56% replied yes they had. Furthermore almost 3 in 10 (28%) Brits admit that they do not back up their photos, with women (32%) being the worst culprits at not ensuring their photographic memories are safe for the future.

 

SmugMug commissioned the survey to discover more about the photo-storing and sharing habits of Britain ahead of launching its first fully formed consumer offering in the UK this week.The company will launch its cloud based photo service, already a major hit in the US to UK customers, offering a safe and secure home for the best and most important of our images. With high level security settings, our 600million photos are safe from theft or copying, yet through links and passwords, our images can be shared with friends, family and loved ones.

 

*Conducted by YouGov for SmugMug

** SmugMug have used an adult population figure of 47,754,569 as a base, and then taken 70% of that (as 30% of the original sample does not take photos during an averag

Plan early to keep holidays on budget says Loveholidays.com

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20130714-132550.jpgTravel and saving money rarely goes together but don’t let that put you off, we got Love Holidays to give us some tips. Recent media stories* have highlighted that holidays are potentially stretching the budgets of the average UK holiday maker by over £200, however loveholidays.com has the answer to keeping budgets in check.

 

The online travel agent suggests there are five easy steps to keeping a budget in check:

 

  1. Book a holiday early and pay for it in instalments
  2. Purchase holiday extras such as transfers or hold luggage at the time of booking
  3. Double check everything you do to ensure your dates, names, departure/arrival airports etc. are correct
  4. Book all-inclusive or half-board accommodation to keep down the cost of dining out
  5. Stay in hotels that are located in the centre of resorts or within easy walking distance of the beach and attractions

 

Alex Francis, MD of loveholidays.com commented: “Blowing your budget is something that really need not occur if holidaymakers are sensible in their planning and purchasing when they book.  It’s all about taking time to carefully select the most appropriate holiday and booking in advance to ensure there is time to plan and organise.

 

loveholidays.com also offers its users a ‘lowest price promise guarantee’ meaning that they are the cheapest option available for breaks to hotels and destinations featured by the company.

*Caxton FX claims: One in five Britons blows their holiday budget, with an average overspend of £211

*Thomas Cooks raised correction fees for airline tickets: £30 each way for any spelling changes made online, up from £20, and £50 over the phone. At the airport the charge is £100.

 

Cheaply Does It.

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With the recession kicking in people are looking for ways to save money, or make some more. Of course the best way to save money is not to spend any, but that is not convenient or realistic sometimes. At the moment inflation is kicking our butts and it costs a bomb just to go to work. If you are lucky enough to have a job.

So, what to do? There are a lot of coupon sites now. You can check for a leapfrog coupon so you can save money on little fun things, or just things you need. If you save money then you save time. So combine things that are educational and entertaining at the same time. Buy any kids or nephews/nieces you have an educational fun toy or products for their birthdays.

Entertainment can be done cheaply. DVDs can be bought cheap and cheap tickets can be found last-minute.

Another way to save is to buy in bulk. The more you buy the cheaper it usually is. If you don’t buy a lot of stuff on your own then you can go shopping with friends and then it will be cheaper for you all.

Only shopping in sales is a good way to save. Never waste your money by buying something full price. You just don’t need to nowadays. Shop online and compare prices. Also make do and mend with the things you have.

Another good way of saving is to buy expensive stuff. No, really, that old adage that if you buy cheap you buy dear is true. Buying expensive stuff will last longer and work out cheaper in the long run. Buying an expensive pair of shoes and getting them resoled regularly and polishing them yourself will make any outfit look great. You will never look literally down at heel. Also, when you buy expensive shoes you can wear high street clothes and still look stylish and well dressed.

Libraries are incredibly underused, dust off your library card if you have not used yours recently. There are tons of books, but also DVDs and CDs.

Scour charity shops for clothes, books, CDs, things for your home. Or do a swap shop. If you need to see a chiropractor then maybe think of doing a skills exchange with someone else. Everyone has something to offer someone else. Whether that is something you do as a profession or as a hobby.

NHS 'Letting Patients Die to Save Cash' Says Official Report

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A report by the Co-operation and Competition Panel (CCP), an independent watchdog that advises the NHS, claims that NHS managers are deliberately delaying operations, hoping that patients will die or go private in a ‘callous’ attempt to cut their budgets.

The report says that health service trusts will be ‘likely to impose greater pain and inconvenience’ by making those in need of care wait longer than necessary for surgery, the official report found.

By making patients wait for as long as four months, it is hoped they will remove themselves form the list ‘either by dying or by paying for their own treatment’.

NHS bosses are having to make £20billion of savings by 2014. The panel’s report claims unfair practices are ‘endemic’ in areas of England.

CCP chairman Lord Carter of Coles said: ‘Commissioners have a difficult job in the current financial climate, but patients’ rights are often being restricted without a valid and visible reason.’ 

Katherine Murphy, of independent charity the Patients Association, said: ‘It is outrageous that some primary care trusts are imposing minimum waiting times.

‘The suggestion that it could save money because patients will remove themselves from the list by going private or dying is a callous and cynical manipulation of people’s lives and should not be tolerated.’ 

The Health Secretary, Andrew Lansely has spoken out and accused NHS managers of risking lives by making patients wait longer for treatment in a ‘cynical’ bid to save money. Lansley said the report showed why the NHS needed to be reformed.

‘This is exactly why we need to put patients’ interests first,’ he said. ‘Too many primary care trusts have been operating in a cynical environment where they can game the system – and in which political targets, particularly the maximum 18-week waiting time target, are used to actually delay treatment.

Care services minister Paul Burstow said: ‘This report illustrates exactly why we need to modernise the NHS and increase choice for patients.’

WORKING WOMEN TAKE FINANCIAL CONTROL – BUT NEGLECT TO PROTECT THEMSELVES

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o Nearly half (46%) of working women describe themselves as the main earners in their family

o 44% of all working women state they are responsible for making the family financial decisions and over three in five (61%) raise money discussions in the household

o Yet over two million working females have no savings accounts in place

Almost a century after women asserted their right to vote, a new report from protection specialist, Bright Grey reveals another step forward in equality by highlighting that almost half (46%) of working women currently describe themselves as the main earner in their household. But its not all good news as the Women and Protection report* also suggests that women are actually less likely than men to have financial back-up should they suddenly be unable to work.

The ‘Women and Protection’ report – which examines the financial role of women in the household today – reveals that women are not only increasing their earning power but they are also gaining a stronger financial voice in the home. Over three in five (61%) working women state they are the most likely to raise money discussions in the home, compared to a lower 57% of working men who state they would raise them.

When it comes to crunch time, working women are also just as likely to make the financial decisions in their household with nearly half (44%) of all working female surveyed stating they predominately make the financial decisions in their household – compared to just over half (53%) of working men who state they would make them. Almost three in five (59%) of married couples say they consult each other on all financial issues.

Women are the family financial hub – but fail to financially protect themselves
Multi-tasking continues to remain a skill for women – even if they are at work all the time. In fact nearly three quarters of working women (72%) say they pay the bills, compared to two thirds (66%) of working men. A similar figure (71%) of working women in the UK do general day to day household budgeting, such as sorting home insurance compared to just 59% of working men who state they are responsible for this. Half of working women (50%) say they are responsible for longer-term financial decisions such as buying life insurance or organising a will.

Yet despite females bucking the traditional trend of males being the financial decision-makers it appears they are failing to financially protect themselves as over two million** working women (16%) say they do not have a savings account. Meanwhile, over a third of working females (35%) say they do not currently have a pension in place, compared to 30% of working men.

In terms of protection insurance products, over half (53%) of working women admitted that they have no life insurance cover in place, a product that is aimed at protecting their families in the event of their death. Over four in five (84%) working women do not hold income protection products, while a similar number of working women (78%) do not hold either a critical illness policy or private medical insurance (81%).

Roger Edwards, proposition director at Bright Grey said: “As earnings levels even up and the level of financial responsibility in households is more equally divided, women could be putting themselves at risk by not protecting their income – especially if a household is dependent on their salary.

Taking online accounting classes can be a great first step in really understanding financial matters.

“Bright Grey is calling for women to have adequate financial protection in place for themselves and their families. By buying a protection product that pays out if they are unable to work due to a serious illness or disability, women can ensure they protect both their household income and current lifestyle. There are various affordable protection options in the market, and it is critical that women in the UK who are increasingly running their household finances are protected.”