Let’s face it: There’s never been a more important time to save money than right now for most of us.
Well, it turns out there are some great ways to save money that are under our noses.
But what are they?
Today, I’ll reveal 4 super-simple ways you can store your dosh away for rainy days.
And it gets better:
I’ll even throw in a few clever ways you can earn extra money – including things you can do from home.
It’s all here in this post, so let’s get straight into it…
1. Seek Payment Support on Your Main Bills
If you’re not making as much money as you once were, you may struggle to pay those important bills and debts.
But – fear not:
Many creditors are offering support to those at risk of missing payments.
The best thing you can do is tell your creditor about your issues.
In most cases, creditors are offering affordable payment plans and payment holidays to help.
But each case is different. So the offer you receive may vary depending on what you agree on.
Here are the most important bills you may need to look for support with:
Rent or Mortgage
Utilities (gas, electricity, water)
Look, I don’t claim to be a genius on finances. So before you do anything, visit Money Advice Service for up-to-date advice to help you stay on top of your budget during this period.
2. Claim Your Allowances & Benefits
Whether you’re claiming benefits or not, EVERYONE is entitled to them.
But you might be wondering:
What benefits may be available to me?
Or, if you are an existing claimant:
How does this health crisis affect my benefits?
Like seeking support on your bill payments, the answers to these questions will depend on your situation.
Here are some examples:
If your income has changed and you’re earning less, you may be entitled to Universal Credit. Universal Credit is a payment to help with your living costs.
If you're at risk of losing your job, your company may qualify for special grants to cover your pay. These grants cover 80% of the salary of employees, up to a total of £2,500.
The best advice I can give you is:
Head over to the entitledto website. They’ve whipped up a fantastic guide that will help you figure out what you may be entitled to.
Now let's continue...
3. Get Refunds On Your Ticket Purchases
Do you use public transport?
Have you bought tickets to a sports event, concert or attraction that you can’t use anymore?
Well, this section is the only ticket you need right now.
A. Getting Travel Ticket Refunds
The government has ordered the public to only use public transport for essential journeys.
And many train operators are moving to a reduced timetable with fewer trains, as a result.
But what does this mean for your pre-bought ticket?
The short answer is:
You can get a refund on your pre-bought travel ticket.
However, each train company or transport governing bodies has its own eligibility requirements for refunds.
I’ve compiled a list of some of the major train companies and governing bodies and their refund policies:
B. Getting Event Ticket Refunds
If you pre-bought tickets to an event that were purchased through an official seller, then you should be entitled to a refund.
You might be wondering:
What about tickets bought from an official ticket-reselling website?
You can still get a refund.
Many events organisers are willing to automatically refund on cancelled events.
But there are drawbacks:
Not all sites are this flexible. Some sites are only offering refunds for CANCELLED events.
Tickets for postponed events may not be refunded.
What’s more, additional costs, such as booking fees and postage, may not be repaid either.
You’ll need to check the event organiser’s terms and conditions to find out what you’re entitled to.
C. Getting Flight Ticket Refunds
This is a very fluid subject. And lately there has been a lot of hassle between customers and airlines.
The truth is:
Some airlines will fight tooth and nail to avoid giving you a refund on your ticket.
Often they will offer you another flight or voucher to be used on another flight, at a later date. This is usually the offer when there is a no-refund policy.
But accepting this is risky because of the current air travel climate we’re in.
Don’t let these moves stop you from trying to get a refund. Contact your airline and insist on a refund – they may do it this time around.
One other thing you may be interested in knowing…
If you booked your flight using credit card, you may get help from your card provider as they are jointly liable for flights that cost more than £100. Give them a shout to and let them know your issue.
4. Freeze your Sports TV Subscriptions
Clearly you won’t be needing your sports TV subscription for the time being.
So this is one of the best ways to save money.
Sky are allowing customers to pause Sky Sports subscriptions.
That’s a nifty £23 a month in savings!
This DOES NOT mean that you won’t have to pay your Sky subscription.
You will still be charged for the rest of your bundle.
But you do get an added benefit:
You can still watch the Sky Sports without paying for it.
So sit back and enjoy some amazing sporting moments from the past.
Before we move on, one last piece of advice:
Whatever you decide to do with your money, make sure you put your needs ahead of your wants.
If you’re paying for anything you may not need during this period, now’s the time to PAUSE THOSE PAYMENTS.
You’ll find you’ve got A LOT of cash you can put towards much more useful things.
Now on to the bonus round: ways you can earn extra money…
Top Ways to Earn Extra Money
Who doesn’t like making some dosh!
Perhaps you fancy making an extra income from home. Or you’re looking for a new job today.
Here’s the deal:
There are plenty of ways to earn extra money even now.
Take a look…
1. Make money online
The great thing about making money online is that you can do it anywhere, at any time.
And there are tons of different ways of doing it. Some may take your fancy, others won’t.
Let’s break some of them down.
A. Become a freelancer
Freelancing is one of the best ways to make money at a place and time that suits you.
Jobs can range from copywriting and providing customer service, to managing brand social media accounts.
B. Earn money for completing surveys
This is growing in popularity. That’s because it’s a really easy way to earn money.
Research companies are always looking for feedback. So they pay people to answer questions and test their products.
But how much can you make?
You can make up to £3 on some surveys!
Though, surveys paying around £1 are more common.
It gets better:
Many surveys only take, on average, around 3 minutes to complete.
A bit of quick maths and:
THAT’S A POSSIBLE £20 FOR AN HOUR OF WORK!
You probably want to get started now? Here are some of the best sites paying for your surveys now:
C. Sell items you don’t need
We all have things lying around the house that we don’t need anymore.
Well, you never know – they might be more valuable to somebody else.
Take a look around the house and start gathering up those clothes, books, CDs, films and games you no longer need.
It doesn’t matter if your items are new or used. As long as they are in good condition, they are sellable.
And it doesn’t cost a penny to do it!
2. Make money offline
Even though we are in lockdown, there are still outdoor jobs that need doing.
There are employers offering jobs right now!
Supermarkets and online delivery services have been very busy during this period.
Stores like Tesco, Iceland, Lidl and Morrisons recently announced that they were looking to hire new drivers and store employees.
But those are just a few of the big retailers offering jobs.
Not so fast! Here’s a top tip:
Before you start to look into jobs, make sure that your CV and cover letter is up to date.
A well-prepared application is always a big plus to employees.
Don’t run off just yet…
I want to talk to you about some money-related things you should avoid during the lockdown.
This section is really important and insanely useful, so keep reading.
Keeping Your Money Safe: Things To Avoid
When saving money, it’s important to keep it safe for the things we need.
The best way to do that is to make smart decisions. But that gets harder in more desperate times.
So here are some of the things you may want to consider avoiding.
1. Don’t borrow money unless you can pay it back
Let me say this from the start:
Borrowing money should be used as a last resort.
It may be a quick fix in an emergency but it can also cause long-term problems.
Financial help such as credit cards, loans and overdrafts come with additional charges and traps.
If you’re not careful, you could wind up with mounting debts from your credit or loan situation.
There is a safe (ish) way of borrowing money, though:
If you decide to borrow money, asking family and friends is a good place to start.
Not only will you avoid high additional costs and interest, they will also be more flexible about when you pay it back.
But even that isn’t without its problems. For example, things can happen in your relationship and the loaner can want their money back sooner.
2. Beware of Coronavirus scams!
Just when we thought things couldn’t get worse, along come the fraudsters!
Phishing scammers, in particular, have stepped up their work in light of these desperate times.
Now they are claiming to be part of the World Health Organisation (WHO) to get your personal details.
That’s just a tip of the iceberg when it comes to the scams around right now...
Some scammers are contacting people pretending to be banks offering financial help as a way of getting your account details.
Others are emailing people pretending to be the HMRC offering tax rebates in the hope you share your personal details.
But here’s how you can stay ahead of the game:
The Money Advice Service have A Beginner’s Guide to Scams that you should read.
It will tell you all you need to know about common types of scams around, how to recognise them and how to protect against them.
3. Don’t gamble foolishly
Recently it was reported online gambling companies are pushing punters towards riskier wagers because of the sports suspension.
As the sports stop and money becomes more difficult to come by, you could be tempted into trying your luck hoping for a big win.
DON’T do it!
Gambling companies rely on desperate people making mug bets.
Instead, try this alternative:
Low risk casino offers can help you control the risk you take in gambling.
Our dedicated casino offers company, Team Casino, will guide you through the world of low-risk casino offers.
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Give it a go when you’re done here.
You’ve read 4 super-simple ways to save money.
Now it’s time to start saving! 💷👍