BBC Radio Stoke Money Saving Tips
Giliker Flynn recently featured on BBC Radio Stoke, we feature from around 1 hour and 13 minutes in this segment.
Our Tips for Saving Money
We were back on BBC Radio Stoke yesterday morning talking with Liz Elliot about money-saving tips for the new tax year in view of the rising costs of living. To reiterate some of the points raised, here are quick examples that may help with budgeting:-
- Write down your income and outgoings. Work out exactly what you pay out each month and learn to know what your surplus income is (the amount left to spend after your bills have been paid)
- After point 1, draw out a weekly allowance in CASH. Debit cards can often undermine the value of things that you are buying, making it easier to keep spending! A cash allowance each week will help you to budget.
- Shop online for deals. Use comparison websites for your energy suppliers, phone and broadband, and Bank Accounts. Every little penny saved adds up!
- Work for a smaller employer where your wage has been the same for years? Sit down with them and ask for a pay rise in view of the rising costs of living. Oversell yourself. As the old saying goes, if you don’t ask you don’t get!
- Use your tax-free allowances! You have a tax free allowance of £11,850 for this new tax year, an ISA allowance of £20,000, and a pension savings allowance of either £40,000 or your salary, whichever is smaller. Why pay tax when you don’t have to?
Need More Advice?
If you’ve listened to our interview and you would like more tips for saving money. Get in touch with our financial advisors in Stoke on Trent. The team at Giliker Flynn can provide independent tailored advice for all matters regarding your finances including savings and investment, pension and retirement.