Should you have money left each month but it just seems to vanish? If you are paying off debts, it is still useful to have a bit put aside so it's easier to cope with unexpected problems. This article looks at Plum Basic, an app that takes the hard work out of saving. It moves small amounts that you won't miss from your bank account into a savings account several times a month. (Originally … [Read more...]
Budgeting & Savings
Good budgeting is the cornerstone of dealing with debts. The basics are covered in Top tips for simple & realistic budgeting that works.
If your debts aren't out of control but you want to pay them off as quickly as possible, taking control of what you spend will help you get there faster.
And having some savings will make it easier to stick to a budget month after month, rather than having a crisis every time an unexpectedly large expense happens.
Should I get a smart meter?
Smart meters let you see the cost of the energy you are using immediately. 14 million households already have smart meters. But how useful are they in practice? And are there any problems? And is your supplier saying you have to get a smart meter as your meter is dangerous? There is one big issue you may not have heard of... This article looks at the pros and cons when you are thinking … [Read more...]
Will a prepayment meter make it easier to budget?
Many people want to reduce their gas and electricity bills and are wondering if switching to a prepayment meter will help. So could a prepayment meter help you to use less energy and budget more easily for these high prices? Sometimes a supplier will suggest you should change, saying the budgeting will be easier. But in 2022 and early 2023, many energy suppliers forcibly installed prepayment … [Read more...]
7 ways to save – which will work best for you?
Do you find it hard or impossible to save? many people feel they ought to be able save but always fail when they try. others are saving for a big goal but not as fast as they want. if you are struggling with money, you may desperately want a small emergency savings pot to make life a bit less stressful. There isn't a simple answer - no way is easy for everyone. What works for one … [Read more...]
Save a house deposit or pay off debt?
A reader asked: "A friend said not to pay my defaulted debts off but save money towards a deposit for a mortgage - is this a good idea?" It's often unwise to rely on friends for debt advice... They may be guessing, their situation may have been quite different from yours, or they may be assuming what happened to them years ago is still useful today. And in this case, the friend may know … [Read more...]
Buying too much online? 5 ways to cut back
A few taps on your mobile and that handbag, those kids' clothes or this kitchen gadget is on its way to you. Very convenient with busy lives and little time to go to the shops. Or when the shops are shut because of lockdown! But when money is tight or you want to save for something important, or you are just bored with being at home all the time, it can be just too easy to overspend. … [Read more...]
Get a simple budget that works – don’t make excuses!
You need something that puts you in control of your spending. Your grandparents used to budget using a pencil and paper. But they didn't have contactless cards and mobile bills and overdrafts and credit cards and takeaways... Now many people find it harder to budget and feel they have lost control. For a budget to make your life easier, it has to be realistic and not time-consuming. This … [Read more...]