WEBVTT

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MHARI AURORA: Saving money
when you're on a low income

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can feel impossible,
but having a strategy

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could make all the difference.

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Firstly, get organised.

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When on a tight budget, it's
important to keep track of all

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your income and outgoings so you
can easily spot any areas where

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you could reduce your spending.

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To reduce your spending,
plan your meals for the week

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so you only buy the food you
need and you actually use it.

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And wherever possible,
hunt for discounts,

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whether it be in the supermarket
or shopping for household

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appliances or equipment.

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Making sure you don't pay
more for your essentials

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will make a big
difference to your wallet.

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Don't forget online could
end up being cheaper,

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especially if you can
find introductory codes

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to sign up for new accounts.

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When shopping,
always ask yourself

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two questions-- do I need this?

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Will I use this?

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Be sure to use price comparison
websites so you're never

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overpaying for your bills, as
the average UK household could

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save 300 pounds a
year by switching

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gas and electricity supplier.

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Another tip is to be mindful
about your fuel consumption.

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And at a time when people
are travelling less,

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do you really need your car?

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After all, you may
be paying thousands

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to keep a car and
service that you're

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unlikely to use very much.

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Switch off lights and appliances
when they're not in use,

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and wear warm clothing
when it's chilly.

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And turn down your thermostat
by one or two degrees.

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Reducing your heating
by just one degree

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could save you 80
pounds in a year.

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And look into how much energy
your household appliances

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consume, and limit
your use of the ones

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that need the most energy.

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When trying to save money,
it's important to set yourself

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targets of how much you would
like to save every month

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and incorporate this into
your monthly budgeting.

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You could then open
a savings account

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and set up a standing order,
which would then get you

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into the habit of not
having that money to spend

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without the temptation
of it sitting

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in your current account.

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Find out more at
Yahoo Finance UK.

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