Published: 18/02/2022
We all love the Christmas season. But, according to YouGov four in 10 of us will have increased our debts, despite wanting to start the new year financially secure. So, here are some money saving tips for 2022.
If you’re a dedicated ASOS shopper or addicted to Marks and Spencer's food it's worth reviewing your shopping habits and seeing if you could get the same things, elsewhere. Whatever it is, check what you’re spending and where, and see if there's savings to make. supermarket’s own brands can be pretty tasty too!
Say you spend typically £30 a weekend on a boozy night, you might whine how January is depressing enough as it is, but, cutting out the G&Ts for just 30 days (or the weekends) could save you around £120 a month.
New year, new start. By manually having to type your details in every time you want to buy something online, you will think whether you really need it - or it's super-easy and you're impulse buying. Leave things in your basket to consider whether or not you actually need them.
Clearing debt is a process, and it needs to be managed in stages rather than simply trying to pay off as much as possible as soon as possible.
Start by working out how much you owe, then prioritise which debt needs clearing first, ideally the one with the highest interest or urgent debt. Pay as much as you can afford and try to remain consistent in payments until the debt is cleared. If you've got little or no money spare to pay debts, seek advice straight away. Consolidating debt can also be an efficient way to help reduce debt or interest and make paying debt more affordable."
1Plus1 offer personal loans for consolidation, backed by a guarantor, subject to both the borrower and guarantor meeting our affordability and credit worthiness criteria.
If you think you may be interested in a 1Plus1 Loan, please give us a call on 0330 1200 313 and one of our friendly staff will be more than happy to discuss the process with you, or start your application here.
Seriously, we would all consider the purchases we're making so. much. more. if they were made with physical cash rather than a contactless card.
Although we're all using contactless payments more because of coronavirus, it’s important to keep track of your money. Take a look at pre-paid cards and only upload what you can afford to spend each week.
Most of us have some expensive habits that cost us more than the unusual. Depending on just how expensive the habit is, it could be really beneficial to cut it out of your spending until you're in a more financially stable position.
On average, people who smoke ten cigarettes a day spend £37.80 per week, or £1,971 per year (based on an average packet of cigarettes costing £10.80). So, just think of how much you could be saving.