12th October is National Savings Day – follow these top tips and start saving:
- Make saving a habit – even if it’s only a few pounds a week. Check out savings schemes to suit you at Manchester Credit Union or via the Governments Help to Save
- Have a savings goal – something to aim for helps focus your mind.
- Draw up a weekly or monthly budget and keep a record of where your money goes. You will feel more in control. Make sure priorities such as rent and council tax are paid first.
- Cut back on non essentials – is now the time to stop smoking or spending on alcohol? Talk to your GP to get the support you need.
- Unemployed or lost hours? If you have been affected by Covid 19 saving might not feel like an option but if you need help and support to look at going back to work to increase your savings potential Real Opportunities or Motiv8 could help.
- Check you are on the best rates for gas and electricity, mobile phones and TV packages.
- Shop for groceries wisely – look at own brands and basic ranges, reduced items and offers - but make sure they are genuinely a better deal and that you will use them. Have you tried the Bread and Butter Thing or the Pantry at the Tree of Life??
- Avoid high interest loans such as pay day loans and door step lenders. Check whether you can get an interest free budgeting loan if you are in receipt of benefits or whether a grant may be available for essential items.
- Check out Freecycle, Facebook, Charity Shops and the Tree of Life for cheap or even free furniture and clothes.
- If you have debts, don’t panic! Get free advice and check you are getting the benefits you are entitled to by contacting WCHG’s Financial Inclusion Team, by calling 0800 6335500 or via our App.
Check out the Money Advice Service for more information about living on a low budget.