Saving thousands on your bills

Rent

Perhaps the most controversial item on this list is the Rent vs Mortgage argument. In a lot of cases, renting can be as low cost as getting a mortgage and comes with a number of benefits. Firstly, you won’t owe £150,000 to be payable over 40 years! This means these debts wont be passed on to your next of kin should you die before you pay for the house. Renting means you can move to a larger or cheaper place as and when you like – or to a new area altogether. House maintenance should be taken care of by your landlord, and even some utility bills may be thrown into the price. If you fail to keep up your mortgage repayments, the banks will move pretty swiftly to boot you out, but many rental agencies or private landlords

can often be paid much smaller sums in order to keep the roof over your head. Finally, if you are lucky enough to get help with your housing costs, many agencies will pay more to rented tenants than mortgaged individuals. Buying a house may still be seen as a good investment should the housing market go up in price – but at the moment it’s going down! – turning the whole thing into more of a gamble. Average lifetime saving (£): Variable.

 Take Holidays Closer to Home

Holidays are often seen as a necessity, but luxury holidays can work out more expensive than they are worth. Traveling to other countries for your holiday can be full of hidden costs, such as airport taxes, insurance, and even the price of a passport, so one thing to consider is just how far do you need to go for have a few weeks of fun?? At the bottom end of the scale, camping holidays can be enjoyed for the price of a tent and a food budget, and a well planned trip could mean you are waking in a new location every day. Similarly, consider hiring a camper or motor-home – and take a tour of the wilderness. Holidaying in foreign parts may still carry a note of prestige, but who needs prestige when you’re broke? Average yearly saving (£): Over £2,000 ($3,000).

 Don’t Buy New

Buying ‘New’ costs more, and even more so when considering buying cars. A car can lose up to 50% of its worth in just 12 months, so the second-hand car market is ripe with good quality almost-new vehicles. At the bottom end of the market, a good car may cost as little as £1,000 and could be just as comfortable, reliable and economical as a brand new equivalent. The second-hand hard goods market is also awash with good quality gear. Online auction sites are by far the best places to buy gifts and gadgets at a fraction of the cost of their retail counterparts. For example, a one-week-old computer processor was found for just £90 on EBay – saving £60 – £80 on the price of a brand new one. Charity shops can be gold mines for clothing, drapes, toys and dvds, and because charity shops almost always insist on goods being of the best order, whole outfits can be bought for next to nothing. Average yearly saving by not buying new (£): Unlimited.

 Shop Without the Labels

Many items have a higher price tag even though they may be carbon copies of other brands; simply because they have a popular label. Many motor manufacturers rebrand imported products to sell the same thing for a higher price. Many clothing manufacturers do the same. So if you can swallow your vanity and shift the ego, there really is no need to wear a label in order to look smart. If you must do, why not just buy a box of sew-on labels and do it yourself! On the shopping front, you may have to ask why you always buy Pepsi when multipak cola feeds the same need for less? Ok, so it might taste better, but it also costs… Again, if you must be suckered into wearing named brands, there are many places which sell the same things for less; and charity shops always have a nice selection of pristine labels on offer. Average yearly saving (£): £250 ($380).

 Wed Naturally

The second most expensive single item on this list is a wedding. Weddings happen to most people, and most have to save for years to get what they want. However, there are always alternatives. One way would be to organize your own wedding using one of the many priests in your area. For example, I asked a Shaman to marry myself and my wife-to-be in a special clearing by a river; I created my own vows; and the whole thing came to under £400. There are many people willing to marry folks for the fraction of the price of a church service, and getting married on a beach, or in a forest – or having a themed wedding – may prove much more memorable and special. Collective saving over a church wedding (£): Over £2,000 ($3,000).