Budget Days Out
Tricia writes:
When I was a young mum, hubby and I were on a tight budget with a huge mortgage. We loved taking our kids out, but had to be quite creative with our options. Those days were great fun and looking back, I know no-one felt deprived. There’s no need to pay for expensive amusement parks to have a good time. Here are a few ideas for inexpensive days out.
Visit a farm shop, take a peek at the chickens and other animals and pick your own strawberries or sweet-corn.
Sit in a pub garden over one very long, slow, inexpensive drink allowing the children time on the play equipment. We even found one country pub that had chickens and peacocks in a huge pen which amused the children.
Walk to the local library, read books and listen to the story time before taking our books home. There is usually a story time each week for young children at main libraries.
Visit the free museum in your town or make a special trip to a London museum.Some of the London museums are free and your train operator may offer reduced priced tickets. Check at your local Tourist Information Office or rail station. (Pat recently visited a free museum - click for more about The Geffrye Museum.)
Take the kids swimming. Lidos can be an unusual place to visit, and a wonderful way to enjoy hot weather.
Go out for a picnic and play rounders, cricket, football or fly a kite.
Visit the park to play on the swings, play hide and seek or a game of tennis on the courts. Consider taking the children out on their bikes, scooters, roller blades or similar. There may be cycle lanes you can use in safety.
Go to the woods. Make trails and find creepy crawlies.
Enjoy a day at the beach.
Take nets and fish in a safe, small stream. Be eco friendly and return your creatures to their natural habitat after you have taken a peek at them.
Get together with friends for BBQs, picnics, walks etc. so that the children have other kids to play with.
Always take plenty of drinks, snacks and if it’s mealtime, a picnic as eating at restaurants and cafes really runs away with the cash. It can be useful to batch bake fairy cakes or biscuits in advance to keep in the freezer to reduce picnic costs. If you know the kids will plague you for ‘extras’ such as ice creams, let them take a little of their own pocket money out or give them a small amount of cash so that they have to budget their money rather than pester for everything going.
If you would like to push the boat out and visit a theme park or other attraction, there may be a discount available. Take a look at a website called The Money Saving Expert. Point cards such as Nectar may also offer discounts.
For adult days out in the UK, check out dofreestuff.com . Click on your county at top of page. When I checked out my county there were activites such as wine tasting with a vineyard tour, museums, a cathedral and art galleries to visit, trug making plus a farm museum with nature trail.
If you have membership of the National Trust or a similar organisation, remember to plan a few days out around it. Take a picnic for a really inexpensive time.
There are many free or inexpensive events around the country. For dates of UK events log on to Free Events or try an internet search of your local area. Keep you eyes peeled when reading the local paper .
If you are visiting London, go to Londonisfree for ideas for free events.
Britain has many historic canal paths and riverbank walkways to explore. For details see Waterscape. There is no need to break the bank to enjoy a good day out.
Understanding Cashback Credit Cards
There are still a few genuine cashback credit cards available in the market place although there are far more that offer different forms of incentives such as points or AirMiles.
The concept of the cashback card is that you receive a percentage of the price paid for any goods or services acquired using the card. The amount may be capped as an annual amount or for a specific period but it can be a valuable and attractive benefit for those that pay off their monthly balance in one monthly direct debit.
An example of the best card currently on offer is the American Express Platinum Cashback Card. To qualify you must earn at least £30,000 per year within the household. There is a requirement to spend at least £3,000 per annum and the cashback reward is capped at £100 or 5% of all spend in the first three months. After that, you earn a tiered level of cashback from 0.5% for spend up to £3,500 per year to 1.25% for any amount over £7,500 per year. So if you spent £12,000 in a year, you would earn a total of £203.75 cashback benefit.
American Express also has the next best card - The Rewards card. This is a derivative and offers points per pound spent which varies depending on the type of spend made. The card also comes with a 0% interest rate for new purchases for the first three months. Points accrued can be spent at a range of retailers and supermarkets.
Capital One provides a cashback World Mastercard with a rebate fee of 1% on all spending. The catch is that there is a fee of £18 per year for the card although this can be reduced to £8 by getting an annual £10 cashback bonus. It represents one of the best cards for those who spend over £1,600 per year. Egg Money Mastercard also pays 1% cashback up to a maximum of £200 per year. There is a fee of £12 per year but still represents reasonable value.
The final offering comes from the Bank of Ireland on their Moneyback card. This works out as a card of choice for those spending under £1,600 per year. Earnings are 0.5% capped at £175 per year on spend up to £15,000.
There are a number of ways of earning “free cash” by using one or more cashback cards. They are not as common as before the credit crunch but can still be found. There are a greater number of incentive cards offering points or AirMiles as an alternative.
Before taking out one of these cards we urge you to consider whether it is right for you. As mentioned at the beginning of this article, these cards are best suited to those who pay off their entire outstanding balance every month, usually by direct debit.
Slim your Spending
A four week plan to help you reduce your spending. You could give the cash saved to a charity, put it aside for a weekend break or holiday or pay off your credit card balance.
Week Four
Monday: If your usually buy sandwiches for lunch consider making your own. It will not only cost less but probably be more nutricious.
Tuesday: Have you been procrastinating regarding cleaning your shoes? Check out which require cleaning or repair. If you have shoes surplass to requirements, consider taking them to a charity shop or shoe bank.
Wednesday: Check your bank statement to ensure everything is correct. Make this a weekly habit.
Thursday: Check your energy bills. Consider checking your meter readings. Take a look around your home to see if you could introduce any energy saving measures.
Friday: Plan your meals for the week ahead using up items in your fridge and cupboards.
Saturday: Check out the rest of this page for ideas to save your cash. Action one point.
Sunday: Log onto www.thehungersite to donate food for the hungry free of charge. There are also links to other charities from here. Just click.
Week Three
Monday: Do you have a stash of DVDs that you haven’t got round to watching? Get them out and plan a free evening’s entertainment.
Tuesday: Procrastinating on that paper pile? Check through it carefully for unpaid bills, then file or shred everything else.
Wednesday: Make time to check your bank statement to make sure everything is in order.
Thursday: Look in your cupboards. Do you own anything you are not using e.g. a foot spa, beauty products, a pressure cooker? Could you resurrect the item to gain value from your purchase or do you need to sell it or give it away?
Friday: Plan your meals for the coming week taking into account what is in your fridge and cupboard. Check the website of your local supermarket to see what is on special offer that you can incorporate into your menu.
Saturday: Declutter. Check your systems for organising your post so that essential bills don’t get missed. Claim any cash owed to you by sending in a claim form. Pay outstanding bills.
Sunday: Log ontothehungersite to donate food for the hungry free of charge. There are also links to other charities.
Week Two
Monday: Does your coffee habit cost a fortune? Make up a flask of hot coffee to take to work.
Tuesday: Have you been procrastinating regarding returning a faulty item to a store or via the mail? Sort it out today by returning it or popping it in a bag with the receipt. Place it ready by the door or in the car.
Wednesday: Check your bank statement to make sure everything is in order. Are you paying for a mobile phone that you no longer have, or a policy you’ve cancelled?
Thursday: Look in your wardrobe. Is everything hung up properly and stored carefully? Do you have protection against moths?
Friday: Plan your meals for the coming week ensuring you use up everything that is near it’s use-by date. Make a shopping list.
Saturday: Planning a day or evening out or a holiday? Take time to check websites such as www.lastminute.com for discounts.
Sunday: Log onto www.thehungersite to donate food for the hungry free of charge. There are also links to other charities.
Week One:
Monday: Study a free television guide for the week and note any films or programmes you wish to see. Plan a free evening’s entertainment.
Tuesday: Clear that paper pile. Late payment of bills can result in penalty payments.
Wednesday: Check your bank statement to ensure everything is correct. Are all your standing orders and direct debits paying their way? Are all debits correct? Have expected credits been paid in correctly? Are any credit card payments up to date?
Thursday: Inspect your bathroom cabinets. Are there bath/shower products that require using up? Any to give away or use as gifts? This may save unnecessary purchases.
Friday: Check your fridge and food cupboard contents. Plan to use up anything almost at it’s use-by date. See lovefoodhatewaste for recipe ideas. Consider cooking a double portion meal this week to freeze ahead for a ready meal. Plan the week’s menus then write a shopping list of ingredients required.
Saturday: Log onto moneysavingexpert for ideas to save cash.
Sunday: Log onto www.thehungersite to donate food for the hungry free of charge. There are also links to other charities from here. Just click.
Share your saving strategies on our Talk Back page.
First Steps to Managing your Credit Cards
Pat writes:
You may be in the position of relying on your credit card to actually buy basic items, such as groceries. After you have made the minimum payment on your cards, paid the monthly mortgage instalment, gas, electricity bills and council tax and maybe a car loan, you simply have not got cash to buy groceries. The only way to feed the family is to use your credit cards.
If that is your situation, you may ask yourself if there is any hope of getting out of debt. I think that most people can become debt free, providing they are determined and prepared for a long term change of habits.
The first thing you can do is to find out exactly what interest rate you are being charged by each one of your credit cards. The figure should be shown on your monthly credit card statement, although it may be in very tiny print.
You may see two rates – the monthly recalculation rate and the ‘effective rate’, or APR. The reason there are two rates is that credit companies charge what is called compound interest. That means that you pay interest on the interest owed. If you want a full explanation, see www.monetos.co.uk.
If you have more than one credit card, and one of them has a lower rate, try to put all your new purchases on the lower rate card – while maintaining (at least) minimum payments. If you can manage more than the minimum, concentrate your efforts on paying more to the more expensive card(s).
If you only have one card, consider changing to another card. There are a number of money comparison websites that will give up to date information on interest rates and potential benefits.
This advice may not help you if you are at the maximum spending limit on your cards. If that is the case, we do list some useful contacts on our Help and Advice page.
We also provide a number of suggestions as to how to spend less money further down this page.
The website moneymadeclear.fsa.gov.ukincludes guidance for anyone with a credit card. It explains how they work, what costs may apply and what you need to know to manage your account.
Holiday Health Insurance Alert
Don’t let inadequate health insurance cover spoil your holidays.
Anyone planning to travel to another country should check that they are covered in case they should fall ill while on holiday.
Residents of the United Kingdom should possess a European Health Insurance Card. You may not have noticed that there is an expiry date on your Health Insurance Card. Make sure that you check the expiry date well before the time when you plan to travel.
If your card has expired, it is usually possible to renew it online at www.dh.gov.uk/travellers. If you are a resident of the United Kingdom, but not a citizen you will need to renew by telephone; you can find the number on the website.
Please note that the European Health Insurance Card entitles you to reduced cost or sometimes free healthcare when treatment becomes necessary during a temporary visit to other countries of the European Economic Area or Switzerland. It gives you access to treatment under the same terms as people that live in the country you are visiting.
This is not a substitute for travel insurance. It may not cover all costs of healthcare, and never the cost of travelling home.
Before you travel, you are advised to take out a travel insurance policy.
Find out exactly what you need by doing some research on healthcare in the country you are visiting. You can find information about other EU countries at www.nhs.uk/healthcareabroad. It is a good idea to take the relevant information when you travel, as it tells you what to do if treatment becomes necessary while you are on holiday. (Obviously, this also applies if you travel abroad for work.)
Health insurance for travellers may cost less than you imagine. Take a look at Go Travel Insurance Ltdto get information about cover and cost.
Review Your Spending
(Be a Careful Squirrel)
Set a budget: Improve your financial wellbeing by careful planning. Whether you are trying to reduce your debts or build up some savings, it is helpful to work out a monthly financial plan. The insurer AXA offers advice and a free budgeting tool on their website. Find it at http://mybudgetday.axa.co.uk/
=
Check your bank statement: Check carefully to see whether you really do require all of those standing orders and direct debits. Have you forgotten old now unwanted insurance policies e.g annual holiday insurance if you are not holidaying this year, magazine subscriptions no longer required, book club memberships etc.
Credit Cards: If you are not able to pay off the entire balance on your credit card each month, you need to factor in the cost of interest charges before you can truly know whether or not you are getting a bargain!
Perhaps you have run up a large unpaid balance – if that is the case, carefully consider whether you actually need anything new. Maybe you could find something in a charity shop, or on eBay.
If your spending is on a 0 per cent credit card offer, make sure that you know when the offer runs out. You could take a look on www.moneyfacts.co.uk and possible find another 0 per cent card to switch to before your present arrangement expires.
Credit Cards: I’ve bought several lovely sale bargains, and paid for them all with credit cards. When the bills come in, I will pay them all off in full, as I do every single month.
If you are not able to pay off the entire bill, you need to factor in the cost of interest charges before you can truly know whether or not you are getting a sale bargain!
Perhaps you have run up a large unpaid balance – if that is the case, I suggest that you carefully consider whether you actually need anything new. Maybe you could find something in a charity shop, or on eBay.
If your spending is on a 0 per cent credit card offer, make sure that you know when the offer runs out. You could take a look on www.moneyfacts.co.uk and possibly find another 0 per cent card to switch to before your present arrangement expires.
Check value for money on your current spending: Do you have a monthly standing order for a gym subscription? Is so, how often do you go to the gym? If you decide that you are not getting value, take a look at the terms and conditions to see how much notice is needed to terminate membership. Make sure that you have an alternative form of exercise. Consider teaming up with a friend to walk or swim on a regular basis, or joining a local exercise clase. You could even purchase a skipping rope.
A note of caution: If you make arrangements to consolodate outstanding debt, do not be tempted to use your house/flat as security. Failure to keep up payments could result in the loss of your home.
See our Help page for further assistance.
Put a Lid on Food Prices
Food prices seem to be constantly rising which is a huge drain on most budgets. However, in the West, many of us are wasteful with food throwing away quantities each week. Why not help the environment and your purse by planning your meals before you shop? If you make a habit of planning your weekly menu then making a shopping list accordingly this should save wastage and cash.
http://www.cheapcooking.com/
http://hubpages.com/hub/Menu_Planning_
http://lovefoodhatewaste.com
Thinking of buying a take-away meal because you haven't got the food in your kitchen to make a meal? Here's a website that we like, because it suggests dishes that you could make with the contents of your fridge and cupboard. Take a look: www.cookingbynumbers.com
Herbs: It's lovely to have fresh herbs to use in your cooking but these can be very expensive purchased from the supermarket. Consider potting up your favourites to grow on your windowsill or in pots on your balcony or patio. A packet of seeds will last for several plantings. You can even plant up extra pots as gifts.
Ready Meals:These can be really expensive and are often not particularly nutritious. When you do have time to cook, freeze a portion or two so that you have home made ready meals in your freezer for when you are in a rush.
www.mysterydining.co.uk dine for free and report on the experience.
Increase Your Income
Become a Representative. Tricia writes: If you love make-up and chatting to people, consider becoming a Body Shop, Virgin Vie, Arbonne or Avon representative. When my daughter was small, I had several part time jobs fitting around child-care. One was as an Avon representative. It wasn't the most lucrative of jobs but it was fun and I did meet quite a number of people. My daughter even came with me in her pushchair as I called on people with the catalogues. Having no car at the time, I sold on an Avon round very local to my home, plus to friends and family. It provided a few 'little extras', plus a discount on Avon purchases and rewards for reaching sales targets.
For those with access to a car, Body Shop or Virgin Vie parties can be great fun, plus with Body Shop you are helping to promote the ethical side of the buisness. This year, I held a Body Shop party in my home. We enjoyed trying out the various products in a themed party based around hands. I could have chosen make up with a face make over or foot products. The representative at our party enjoyed her work. She often sold at day-time Body Shop parties for mother and toddlers groups etc. hence it wasn't all evening work but you do need to be out-going enough to be able to encourage people to hold parties.
With these plans, it is usually possible to build up your own team of representatives you recruit and receive a small percentage of their earnings too.
Consider earning a second income
An evening or two working in a bar, restaurant, as a carer or exploring the possibility of earning extra cash from a hobby or skill could be worth considering.
=
New Shoes: When I buy leather soled shoes, I take them to a cobbler to have some more robust soles applied before I wear the shoes. Most cobblers will be able to supply these soles in a pale colour, to match the original leather shoes, so they will still have that ‘new shoe’ look. 
As these shoes are made of suede leather, I sprayed them with rain protector before wearing them, to reduce the chance of them getting spoilt by wet weather. And as a final touch, I store them with shoe trees to keep them in shape. All three steps will make the shoes last longer.
Useful websites:
www.cantbarsed.com/fashion for discount vouchers and promotional codes for top high street brands.
www.bigwardrobe.com for on line wardrobe swaps.
Save Money on Beauty
Hair: Some very popular salons charge lower rates on days early in the week than on Fridays and Saturdays, while others salons have specific days when apprentices give haircuts and styles, under supervision from qualified hairdressers. You may have to ask to find out about these rates. Also, it may be possible to simply have a dry cut, but not all salons offer that service.
Lipstick: When the lipstick is almost used up, a make-up brush will extract the last of the product, giving you extra use.
Products in Tubes: Cut the tubes of almost empty products. You may find enough product for another week of use. To prevent the product drying up, use cling wrap to seal between use.
Every Penny Counts
www.moneysavingexpert.com Try looking at this site on a regular basis for new ideas.
www.myvouchercodes.co.uk Always explore a voucher codes website such as this one (there are several) before making an internet purchase. You can often get free delivery or 5 to 10% off purchases simply by typing the appropriate code in the check out box. Offers change. Comet, Currys, John Lewis are a few examples.
When buying on-line, consider logging on through a website such as Quidco or air miles to gain cashback or airmiles on your purchases. The cashback soon adds up.
Magazines: There’s no doubt that buying magazines can be a drain on your purse, now that some of them cost almost £4.00! If you enjoy reading magazines, try making an arrangement with your friends to share magazines.
If you have a favourite magazine that you purchase every month, watch out for special subscription offers. These can save money, and sometimes come with a ‘free gift’. To make the most of these offers, do not let the subscription run on past the period during which the price is reduced – publishers are relying on ‘customer inertia’ to help them make a good profit!
=
Free stuff! Try out the website http://www.gumtree.com/ Especially useful for money saving, there are sections on freebies, swaps and rideshare (remember personal safetly issues here though). It's free to post some ads too. To access information relating to your local area, click on the change town facility at the top left, otherwise your page will probably come up relating to London.
