Friday, 15 November 2013

9 Practical Money Saving Tips...

Tired of vague and boring tips to save money? Here are some practical tips to save you money easily...

1. Save on Prescriptions by Paying in Advance
Those of us that live in England that unfortunately still have to pay for our prescriptions, currently £7.95 each, can save money on them by buying Prescription Prepayment Certificates (PPCs). If you or a family member are frequently needing more than 13 prescriptions a year, buying a 12-month PPC for £104 could save you money, while a 3-months PPC at £29.40 could save you money if you need to buy more than three prescriptions a month.

2. Cut £100 off your Water Bill.
Many people who live alone are paying over the odds for their water bills, if it is not possible to have a meter installed you can ask the water company to base the bill on an “assessed charge” reflecting your actual consumption. Unsurprisingly water companies don’t exactly shout about this, if you think this applies to you contact your supplier and you could potentially save over £100 year.

3. Save Money on Train Travel
Carnets are batches of single tickets that many train companies offer on many commuter routes. You pay up front and they last for three months, offering great value if you make several journeys a week. Carnet tickets are also available on longer journeys, and from most of the big train companies. In some cases you get 12 trips for the price of 10, in others the price is discounted.
If you’re travelling in a group, buying a GroupSave ticket can save you money. Up to four people can travel for the price of two adults on off-peak services – and you can add more children at a flat rate of £1 each.
Is your train often delayed? Well the minimum compensation, by law, is 20% of the ticket value if the train is delayed by an hour. There are various other compensations offered by different companies and its well worth investigating if your journey is held up.

4. Save on your MOT
Does your car seem to always fail its MOT when you think it’s ok? Well why not try a council run testing station. These will charge you full price, but because they don’t do repairs, they have no incentive to fail your car. There are many reports of cars passing in Council run garages, but facing big repair bills at others.

5. Save £50 avoiding water "run-off" charges
Did you know that you pay for all the rainwater that runs off your property and into the public sewerage system? If your drainpipes aren't connected to the sewerage systems - and million aren’t - you can apply for a rebate of £50 a year. This is another little known fact that surprisingly the water companies keep quiet!

6. Always Google Promo and Discount Codes!
If you’re doing online shopping, always search Google for current discount codes and you can save varying amounts of money. Many vouchers may well be out of date, but it is always worth trying as most online stores have discount codes that can be entered at checkout. Also remember to download the smartphone voucher apps which can save you cash on anything from restaurants to clothes.

7. Remove the extras from your Bank Account
Bundled services with your bank account can cost £300 a year – for which you get travel insurance and breakdown recovery, plus some other services. But you can usually buy them more cheaply elsewhere. It should require no more than a simple phone call to your bank. There are lots of other dubious services that your account may cover (such as phone insurance) which you are likely to find very hard to claim with.

8. Is your Tax Code Wrong?
Make sure your tax code is correct, many people can save thousands by quickly performing this check and making sure you’re not paying over the odds for income tax.

9. Supermarket Home Brand Medicines
A 30p packet of Tesco paracetamol is exactly the same as a more expensive name brand product. Don’t be fooled by the branding and marketing. Always buy the cheaper version.

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