Reduce Outgoings | Budgeting Advice London

For most individuals and families a car is something they can not do without. For some families, where both parents work, they need 2 cars. Cars can be a very expensive to run, but there are things that can be done, to try and cut back on the running costs of a car.

Keep Car Fuel costs down

By using your car properly you could save up to 15% on your fuel costs. Driving your car gently, with proper tyre inflation, no roof racks, no air con, no over-revving etc. can all help you get the most out of your cars fuel. Also shop around when filling your car to get the cheapest fuel costs.

Shop around for the cheapest Car Insurance

Search around for cheaper car insurance. Most Car Insurance companies do not charge a fee for changing over to a new insurer, providing you haven't made a claim, so searching around for a better deal may be beneficial. Its good to keep in mind that the insurance companies all want your business so they are willing to match quotes and lower quotes that other companies so play them off each other to get the lowest price.

Car Sharing

Car sharing is a fantastic way to save money on car costs for families and individuals. You can pair up colleagues and friends who are making the same journey at the same time. Each of you can take turns weekly or to drive to work. This can save you an absolute fortune on fuel costs.

Rent your Car parking Space

Are you working all day? Is your driveway free? Rent out your car parking space. Depending on the location of your driveway you could earn over £200 per month for simply letting someone use your drive. You can read more about this on websites such as www.parkatmyhouse.com. This also works both ways. For example, parking charges in the London area can be extortionate and you could save on parking costs by renting someones car park space.

Shopping is probably what we spend most of our money on. Between buying food and drink, and clothing it is costing more and more every day as prices keep going up and up. Supermarkets and store spend millions on trying to get us to part with our hard earned cash, enticing us to buy things that we don’t need. Here are some tips you can follow to avoid overspending…

• Make a shopping list and stick to it.
• Draft up weekly meal planners.
• Draft up weekly meal planners.
• Ignore sweets and magazines at the till. They are there to make you spend extra.
• Don't follow Store Layouts, go to specific points you need to.
• Special offers aren't always what they seem. Think about what you are being offered. i.e. 3 for 2 deals. Do you even need 2, never mind 3.
• Sometimes supermarkets promote something as a special offer for example product A is only 99p all this week. However if you check out the price in other shops it might be regularly only 89p all the time.
• Not all value and cheaper brands are compensating taste. Try out the different cheaper brands and see what you like and switch. This can really help you save a lot of money on your shopping bills. If you dropped to a cheaper brand on all your shopping you could save over a third on your weekly shopping bill.
• Do use the supermarkets vouchers, loyalty point’s cards and deals. They can really pay off.
• Compare the various supermarket prices.

It's the little luxuries in life that keep us sane and make us happy. But these little luxuries are often what we spend a lot of money on and when you are struggling with your debts, it's difficult to have them. On the flipside of this, when we are in debt and feeling down we spend unnecessarily to make us feel happier.

Give up or cut down on smoking. Smoking is a very expensive and nasty habit. Once you get hooked to smoking it’s extremely hard to give up. Even if you love smoking and have no intention of giving up, you'll be amazed at how good you'll feel if you even cut down. The effects are amazing, both physically and financially; far outweighing the joy of smoking. If you smoke 20 a day at around £6 a packet, that’s £2190 a year that you practically blowing into the air. Over 30 years that’s over 65 thousand pounds. There are a lot of things you could do with 65 thousand pounds. You wouldn’t have any debt for one thing.
If you are thinking of quitting, there are many organizations out there to help you give up. You don't have to do it alone. It's not easy and normally takes someone about 7 attempts before success, but coming from experience, you will notice the benefits.

Cut down on Drinking. After smoking drinking is one of our next favourite pastimes. We usually drink the at the weekend when we go out socialising and spend the most of our money. Drinking is also a very expensive pastime. Drinking a little less, buying a cheaper brand or monitoring your intake can all save you money. If you are used to going out drinking every week then you will be spending a lot of money. If you even sat in or drank less every other weekend you would find a massive saving in your monthly out goings. If you drink a lot when you are out, try having a carry out and going out later. Or take a specific amount of money out and stick to it. Not only will you be saving money but it will also be healthier for you.

Cut down on Take-away food and Eating out. Buying take away food costs a lot more than buying food and cooking it. It is a lot cheaper, tastier, healthier and more rewarding to buy your own ingredients and make your own food. If you have take away as a treat, once or twice a week then you will be spending a lot of money. Try only buying take away every other week or once a month. It will be better for your pocket and your health. You will find that you appreciate it a lot more too. The same goes for eating out. Eating out at restaurants can be an expensive business.  Something that you could cook at home for £5 could cost £30 - £50 or more at a restaurant. If you eat out regularly and are struggling with debt you should try and not go out as often and keep these meals for special occasions. By the time you buy dinner, taxis, drinks etc. these

Clothing is another necessity that can also be a luxury, and an expensive one. Be vigilant with your purchases. Ask yourself: "Do I need this?" Raid your wardrobes, see what you can update, accessorise and re-invent. Also wait for the sales when you will find the same items at half price or more. There are many sales, bargains and cheap clothing stores about. Try shopping on sites like ebay were people want to sell clothes they don’t use or maybe even have never worn, you will be surprised at some of the bargains you can pick up.

Holidays are a luxury that most of us feel we can't live without. There are plenty of holiday offers out there, so shop around for the bargains. Sometimes it may be cheaper to book flights and accommodation separately and if you sign up for the airline newsletters you can get flights all over Europe for really cheap, even as cheap as a few pounds.

Gym membership is a very expensive luxury. Why sign up to a gym that is costing you a fortune each month when you can exercise for free! Running, walking, swimming, and cycling are all methods of exercise that can save you a fortune in Gym fees. If you like attending classes, most leisure centres do cheap classes with no subscription. You can go as and when you please.