Boost your bank balance by over £2000
Using the internet can be a fantastic way to manage your money. Katy Ward shows you how you could save £2209.36 just by logging on.
For years, friends had been telling me about the amazing savings they made online. Being a technophobe, it took me a while to catch on. As soon as I did, however, I was shocked by how much extra money I had in my pocket each month.
Read on to see how managing your money online could leave you £2209.36 better off.
Ditch your paper bills
Lots of utility companies and banks will cut the cost of your bills if you volunteer to manage your account online and switch off paper bills. This is because sending out paper statements is a huge expense for companies.
Managing your account online also reduces staff costs for gas and electricity suppliers as customers often submit meter readings themselves.
Savings: Finding a better deal on your gas and electricity could save you £430* a year.
Hunt down the best bargains
Price comparison sites have become hugely popular in recent years. By going online, you could search for the cheapest deal in a matter of minutes.
These days, you can use these clever sites to compare prices on a huge range of products from baby clothes to books.
What’s more, this is also a great way to purchase financial products. If you stick with the same utility or insurance company for years, you’re unlikely to get the most competitive deal. This is because plenty of companies only offer their best deals to attract new customers.
Savings: Imagine you want to renew your car insurance. According to recent figures from the AA British Insurance Premium Index, the average cost of car insurance is now more than £1,000. However, those who shop around save an average £387.
Get paid to shop
If you are going to buy something over the internet, you might as well earn a bit of extra cash in the process!
Cashback websites such as Quidco and TopCashback pay you every time you make a purchase based on a referral from their site.
Even better, you could double your rewards by using a cashback credit card to pay for your purchase.
Right now, the American Express Platinum Cashback Credit Card offers 5% cashback on spending of up to £100 during the first three months. After that, you’ll get 1.25%.
Savings: According to Quidco, an average user can expect to earn £262.36 per year.
Cash in on your unwanted items
As a nation, we’re obsessed with buying things on auction sites such as eBay. If you’re overspending online, you might want to think about becoming a seller instead. It’s just as exciting!
Following my birthday, I found myself with two copies of the same Sex and the City DVD box set. Without a receipt, I decided to sell one online and bagged myself £35.
Savings: Now I whack everything I no longer need on eBay. Past sales have included a mobile phone, a bottle of designer perfume and spare concert tickets. In total, I’ve notched up around £350 profit.
Frugal food shopping
If you work full time, going to the supermarket on a Saturday afternoon can be a nightmare. Buying groceries online with websites such as mySupermarket.co.uk can reduce both your stress levels and your bill.
This nifty website compares the prices of thousands of items sold at Tesco, Sainsbury’s, Asda and Ocado. Once you’ve completed your selections, you buy your groceries from the store that sells these items at the lowest price.
Savings: Before going online, my weekly shop would cost me approximately £75. I’ve cut this back to about £65 – saving £520 a year.
Check out voucher sites
Since the credit crunch, more of us are cottoning onto the benefits of being thrifty and regularly visit voucher websites such as VoucherCodes.uk or HotUKDeals.
These sites can help you get a better deal on almost anything from a takeaway pizza to your daily newspaper.
Savings: Anyone who frequently goes out to dinner should investigate two-for-one vouchers on main meals. If you eat out with a friend once a week, you would save around £10 on your bill. Over the course a year this adds up to £520 (£260 per person).
And it isn’t just your bank balance…
Making massive saving isn’t the only benefit of going online. The internet is also quick and convenient.
Unlike your local bank branch, the internet is open 24 hours a day so you can sort out your finances whenever suits you without having to face queues and unfriendly staff. And to finish on a less selfish note, you’ll also be doing your bit to protect the planet.
*At least 10% of our customers saved a minimum of £430 per year when arranging an energy transfer using our services during the period 1st August 2009 to 17th November 2009.
**Articles featured on BeatThatQuote.com are for information purposes only and reflect the views of individual writers. Articles are not, and should not be considered as, financial advice. BeatThatQuote.com strongly encourages our readers not to rely solely on information contained within this article/our website, but to conduct their own research and seek independent advice about the financial products they purchase.**
Categories
