Bursting the Big Black Financial Cloud
In recent times the press has been full of reports of monetary doom and gloom. The credit crunch has undoubtedly been the talk around many breakfast tables across the UK and with predictions of a looming recession is there any silver lining to this cloud?
Much has been made of the rise in grocery prices but with the competition between the supermarkets being so fierce it can definitely pay to shop around from week to week in order to get the best deals. By browsing online stores you can check out the various offers without having to leave your home.
With petrol and diesel prices rocketing so steeply of late, owning a vehicle has become considerably more expensive than before. If you’re considering changing your car then it’s the perfect opportunity to go green and save yourself some money at the same time by converting to Liquefied Petroleum Gas which could save you up to 50% on your fuel bills. Even if you’ve just got a new car you could still have it converted which will bring long term financial benefits even once the initial outlay has been factored in.
Domestic fuel has not been immune from rising costs either and again as this is a competitive market there is the chance to lessen the impact of these by switching supplier. Doing your homework and making the right choice is important if you want to maximise your saving. Also if you’re currently with different suppliers for your gas and electricity then getting them both from the one company often comes with a dual fuel discount.
The interest rates on credit cards can vary widely from lender to lender and this is another area of your finances that could bring about savings if you’re prepared to do a little research. Transferring your existing balance to a new card with a better interest rate can make your monthly repayments much more affordable.
In these testing financial times it can be tempting to cut back on things that you may deem unnecessary. For example your home contents insurance may have expired and you think it’s not worth renewing because of the cost. Before you make any rash decisions which you may regret later, it could be worthwhile looking at some of the money saving options above rather than be faced with having to find the money to replace everything in your home if the worst was to happen, such as a flood or fire.
Ensuring you have adequate life insurance cover is also important and again your monthly premiums could actually be reduced if you’re prepared to shop around.
By doing a little bit of leg work and examining all of your available options you can help to negate some of the impact of the gloomy economic environment and brighten up your bank balance.
Dislcaimer: Matthew Pressman writes for a wide variety of commercial clients. This article is intended for information purposes only and readers should seek additional information before taking any actions based on its content.
