10 Ways to Save Money this Winter

During the winter months we all feel the pinch, with those expensive heating bills, office parties and all the trappings of the festive season. Yet there are ways to save money this winter so you can enjoy your hard earned money to its maximum – here are ten to help you out…

1) Staying in is the new going out

Enjoy a night in rather than spending a fortune on taxi fares, food and drink and a new outfit. Instead of going out clubbing or the casino, gather your friends round and keep warm indoors playing some games online. You can replicate the feelgood ‘going out’ mood within your own four walls.

You can even host your own dinner party. Try out some new recipes and impress your friends.

2) Make sure your home is insulated

Reduce your heating bills by ensuring the heat stays securely in your home and doesn’t disappear out of the windows and walls. You could save hundreds of pounds a year by insulating your loft or with cavity wall insulation. For more tips on money saving ideas around the home go to which.co.uk.

3) Pump it up

Ensure your car tyres are at the correct pressure as the temperature outside drops.

Checking your tyre pressure reduces the chances of a blowout or other serious tyre malfunctions, which can be costly to repair. The wrong tyre pressure also affects your car’d performance, which means you could be spending more at the petrol pumps.

4) Enjoy a cheaper cuppa

Your kettle is one of the most expensive home appliances to run and in the winter months we often stay at home longer enjoying lots more warm drinks. To save money don’t fill the kettle to the top – simply use your cup to measure the right amount to be heated. The kettle will boil quicker and use a far smaller amount of electricity.

5) Shut the door

Close off unused rooms in your house. We all have a spare room or space in our house that we don’t use for much of the time. So to save a few extra pounds make sure you close that room off and turn the temperature down if not off.

6) In the pipeline

Find out where your stopcock is located. If the weather changes and gets very cold you could end up with frozen pipes bursting. If you know where to look and know how to turn off your stopcock then it could prevent a flood which can be very costly to repair. For more advice see thameswater.co.uk.

7) Keep wrapped up

When you’re spending your time at home wear layers of clothes. Add an extra base layer of clothing and put on an extra thick jumper to save on turning up the heating.

8) Gift planning

It’s easy to get carried away with presents so make a list of gifts and try not to stray from what you have planned to spend. Don’t get your head turned by extra offers online or in stores.

9) Get crafty

Make your own presents that will be significantly cheaper to produce and a lot more satisfying for your friend or loved one to receive something that you’ve spent time on. The same goes for cards too.

10) Switch it off

During the festive season many of us like to get into the Christmas spirit and decorate our homes with lights. The best way to save money when doing this is to turn off lights when you are not in the room and switch all your old lights to LED bulbs as these last for a greater amount of time.

3 Reasons to Start Investing Now

Investment is something people have all sorts of feelings about. Because most people understand that an early start is one of the key ingredients in the healthy investment recipe, those who did not have the opportunity or forethought to start investing at a young age may find themselves discouraged as time goes on. This discouragement may convince this sort of person that investing isn’t worth it, at this age. This, however, is usually not the case. Even though it’s true that many decades give investments many opportunities to succeed and grow, people can still achieve significant returns during shorter periods of time.

A recent survey by Lottosend indicates at what age most people feel that an investment portfolio should be initiated. The results are as follows: 20’s 59.7%; 30’s 22.4%; 40’s 8.7%; 50’s 9.2% (18-24: 20’s 49.3%; 25-34: 20’s 52.6%; 35-44: 20’s 59.8%; 45-54: 20’s 64.5%; 55-64: 20’s 67%; 65+: 20’s 71.1%). The latter set of numbers indicates the percentage of certain age groups that said that people in their 20’s should start investing, more so than later ages. This demonstrates that this notion becomes more clear as people age. Older people often express regret at not having invested sooner. But again, this is no reason not to invest at all. There are still many advantages to investing later in life. Here are three.

  • Older People May Have More Income to Invest. Though young people have the advantage of time when they start investing, they often don’t have other key element: disposable income. Investment allocations should only be made with income that can be set aside. Older people tend to have more money in savings than their younger counterparts. This isn’t always the case, but when it is, it allows older people to initiate investments which pay off much earlier than younger people with their comparatively smaller contribution capabilities.
  • Older People May Have Workplace Support. As people get older and progress in careers, they are more likely to be presented with options like a 401(k). These workplace sponsored tax protected investment accounts often feature employer matched contributions. This phenomenon doubles every bit of money squirreled away by the account holder.
  • Older People Have Had More Time to Manage Debt. Young people have a lot of reasons to carry debt. They may have had to pay for school with loans, they may have children, they may have a new mortgage. The interest associated with loans and debt sometimes negates the efficacy of investment dividends. If a young person has credit card debt, there is almost no way to invest efficiently, since more money will be lost through credit card debt interest than can reasonably be earned through normal investment means. If older people have their financial houses in order, they may invest very efficiently, even if they are just beginning.

For all of these reasons, older people who have not yet begun the investment process should not become discouraged. Investing can begin at any age, with real benefits making it worth it for nearly anybody.

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