Thursday, 19 January 2012

Money Sense

Amongst my mummy friends I'm known as the one to go to for financial advice, the one who gets the bargains and the one with all the tricks and tips to save money.

But I'm going to let you into a little secret... and tell you where I get all my advice and information... a wonderful website called Money Saving Expert.

It's a totally free and impartial website run by the money guru Martin Lewis who is often seen on TV or heard on the radio and is full of money saving tips. His website is free to use and well worth a visit. Make sure you sign up for his weekly email which has lots of short lived deals.

Using Moneysavingexpert I have made savings, not just for myself but for my mum as well. I managed to reclaim over £800 in unfair bank charges, I got my mum over £100 just because she'd changed her mortgage and I got my dad over £100 just because he washes his uniform at home!!! You can even reclaim your PPI charges on loans and credit cards. 

Some sites will offer to do this for you, but will charge you for the privilege, but the moneysavingexpert website will give you all the help you will need; addresses of where to send your letters and blank templates that you fill in yourself, not to mention all the help and support you could need on the forums.

But that's not all... Moneysaving expert has tips on how to create a household budget and more importantly on how to lower it without having to cut back on life's little luxiouries.

For example... following Martin Lewis' guide the record for a year's car insurance is 96p!!! Yes, you read that right... less than £1 for 12mths fully comprehensive car insurance (read about it here) and the system works for other insurance products as well... the record for house insurance is £67.50 PROFIT for a years insurance.

Another tip is using Cashback websites. The two main ones are Topcashback (free to use) and Quidco (costs £5 a year taken out of your first cashback). Now what are cashback websites and how do they work? Once you have decided what you want to buy online (this can be any product from an item, insurance or even a financial product) and where to buy it, you go to Quidco or Topcashback (its worth checking both to see which offers the best cashback) and once you've logged on you use their link to go to the website you want to buy from. You go to the same website you would have gone to if you had typed in the address yourself, the only difference is that this time the cashback website is paid an advertising fee which they then pass onto you (which can vary from a percentage, a few pennies or even over £100). For more information you can read about them here. Oh and as a little bonus for my American followers, Topcashback is now available for you as well

So good luck and start saving today 

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