The recession has meant a tighter budget for many households, so it is increasingly important that we save money on our outgoings. Rising living costs and unemployment combined with a lack of available credit is likely to continue, so finding ways to save money this year is going to become more of a necessity.

Finding ways to cut back on spending and stretching out your income should help you tackle the credit crunch much more effectively and simple changes could see you being hundreds of pounds better off. Below offer just three simple ways to save money this year, but please feel free to comment and add yours to the list:

ways to save money

1: Switch your Shopping Habits – The amount that we spend on our weekly shopping always seems to be increasing and food is one necessity that we cannot live without. But, as a country, we also waste a lot of food which in turns means that we waste a lot of money!

One way to save money this year could be through planning your weekly shop in advance. Plan your family meals and hit the supermarket with a list of everything you need and don’t stray from it. The special offers are designed to be tempting, so it is very easy to spend more than you planned. Alternatively shop online where you may be less tempted by special offers.

2: Find a Cheaper Insurance Provider – We all should have insurance for our home and it is essential that we have car insurance. But you may find that these payments take up a large chunk of your income. One way to save money is to find a cheaper insurance provider.

When it is time to renew, make sure that you take the time to compare prices from a range of providers and you may be surprised at how simple it is to save money. Just make sure that the level of the cover is what you expect. Your current provider may also price match any genuine quote, so this really is a good thing to do and an easy way to save money which could go towards paying off your credit card debt.

3: Find a Debt Solution – If you have a number of unsecured debts which you are struggling to pay, you may find that this could be the best time to find a debt solution. There are a number of ways that you can deal with your debts. For example, you might find that consolidating your payments into one lower monthly payment through a Debt Management Plan will help your be able to control your other financial commitments, much as a mortgage, much more efficiently.

Remember that there are a number of debt solutions on the market, some which could stretch your monthly income further by reducing the amount that you have to pay per month. Although this means it will take you longer to repay your debts, you should find that your monthly payments are no longer a struggle.

Contact Harringon Brooks today for debt advice about our range of debt solutions