Top tips to improving your personal finances

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The economy may have hit our bank accounts hard but the good news is there are limitless ways to improve your personal finances. From ensuring you make the most of your money with the best deals on household bills to swelling the coffers with a little entrepreneurial spirit, why not follow a few of these tips to help boost your household income?

Compare the market

The first place to start is by ensuring you pay only the best rates for services. Shift suppliers and procure the best prices for products and you’ll be amazed at how much you can save. Settling for the renewal rates offered by existing suppliers can incur unnecessary expense. Suggest you’ll take your custom elsewhere and you’re bound to reap the rewards of revised rates. In a competitive climate it doesn’t always pay to be a loyal customer.

Ditch outdated policies

You should also ensure you’re not paying for outdated or irrelevant policies. It’s amazing how easy it is to part company with a couple of pounds each month for an outdated policy that provides very little benefit. However, for those invaluable household services, such as broadband, make sure you’re paying a competitive price for your perfect package. Find out more here and pick a product at the right price for your budget.

Turn clutter into cash

No matter how well you manage to save money, it’s always a bonus to bring a little extra in. You may not necessarily have cash in your attic, but you’re bound to have a considerable amount of clutter. Why take up valuable storage space with items you no longer use? Take a look in your loft and sell your superfluous stuff. It’s surprising how many of your unwanted items may be snapped up at a car boot sale. Similarly, get set for some serious selling on an online auction site, such as eBay. Selling online tends to procure the highest prices and many serious sellers manage to make a considerable amount of money on the side.

Put your business hat on

You may find you have a flair for making a fast buck. Buying items cheaply at boot sales and selling them online for a higher price may be a successful money spinner. With a little research and market awareness you can work out what sells well and set up a lucrative little sideline.

From flogging old, unworn gold for cash to gaining a few quid from unwanted gadgets, there are a variety of reputable websites that make the process quick and easy. Read reviews and do some research to avoid getting ripped off and when you’re looking to make a little extra money, it’s always worth remembering that one man’s trash is another man’s treasure.

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2 Responses to Top tips to improving your personal finances

  1. The ditch outdated policies tips is spot on. We recently reviewed our life insurance and short term disability insurance and found that we could save $1,500 a year just adjusting these to our current needs. See the comment luv for the specific info!
    Derek @ recently posted..Life Insurance and Short Term Disability Insurance – RecapMy Profile

  2. There’s always things around the house that you could make money on. If you clean your house once a month you are bound to find a few things that are worth something to someone else. I’ll try to keep a storage area of stuff that I don’t use anymore but I know could sell when I get around to it. Usually ends up being a decent group of my junk, but other’s treasures.
    Janine @ MoneySmartGuides recently posted..Your Free Credit Report: 3 Times A YearMy Profile

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