The home guide to fiscal responsibility by saving money

When it comes to home finances, there are few of us who really have it covered. Sure, we can manage our money with some success, but there are great money saving tips out there that you may have never come across before.

They could be helping you to change what your payables look like. The home is the main source of financial expense for most people, due to rent payments, bills, and grocery costs, but there are some things that you can do to say goodbye to the extortionate costs.

Here are some money saving tips everybody needs to know:

Move your credit cards

A lot of us use credit cards in order to make up for our financial losses. No matter how well you manage your money, you will need to apply for a credit card or a loan, and you wouldn’t be alone in doing so.

However, you could be doing yourself a big favor by keeping an eye on the current credit cards and the changes in interest rates on the market. If you’re paying out more than you should be, then you’re going to end up spiraling further and further into the world of debt.

Always ensure that you’re always looking into the rates out there and what the best way to manage your finances would be.

Buy pre-owned instead of new

As soon as you drive your new car off the dealership lot, its value decreases, sometimes by thousands. You can buy the same make and model for a lot less when it is a used car, so if you’re thinking of selling it at any point, you’re going to be at a real loss.

Don’t be fooled into thinking that new is the only good option here, as you can get a vehicle with a low mileage – in a great condition – for a fraction of the cost.

If you’ve never done this before, you may not know where to begin searching for used cars, but there are many routes that you can take, from used car dealers to checking out the cars on sale in your local area.

Buy groceries under a generic or store brand

When it comes to groceries, some of us know what we like and we’re willing to pay out for it.

However, it is common knowledge now that the cheaper, non-branded and store private label products are actually made in the same factories as their more expensive counterparts and the ingredients and tastes are exactly the same. The only thing that differs is the packaging, so why should you spend out just to have a fancier box?

If you’re not really one for going down a brand in groceries, just try a few cheaper alternatives next time you shop and see how they compare. You could save yourself a lot of money, for exactly the same products.

Purchase secondhand tech

You will often shell out more money that you’d like if you want that new iPhone, Samsung Galaxy or laptop, at prices far higher than you’d like to pay.

Checking out sites like eBay before you spend could be a good idea, as there are people selling their old tech for a fraction of the price and they are still as good as new.

Some people just like to change (and upgrade) their phones more than others, and will be selling some of the most up-to-date models at a cheaper price.

You have to be careful what you’re bidding on, so make sure that you look at all of the product specifics. This could be a great way to save yourself a bit of cash on those more expensive goods.

Change your bills over

If you’re in rented accommodation, or even if you own your own home, you may think that the electricity, gas and water suppliers that you’re currently using are the ones that you have to stick with.

This couldn’t be further from the truth in some areas, as there are many different companies out there, all competing to have the best rates. You can look at some comparison sites on the Internet if you want to see which providers would be the best for you.

Make sure that you’re always looking out for a better company to switch to. It could save you a lot of money over the year, so don’t just stick with what you already have.