Save Money

1. Motoring and transport tips
2. Home tips
3. Finance tips
4. Lifestyle and shopping tips

Motoring and transport tips

Steering you towards more economical journeys

Ease back on the gas for better fuel economy

With fluctuating petrol prices it pays to modify your driving style. Instead of pushing the accelerator flat to the floor as quickly as possible and then slamming the brake whenever traffic slows, gently pulling away and braking in plenty of time can increase fuel consumption dramatically (driving at 100 mph uses roughly 5 times more fuel than at 50 mph).

Allow yourself plenty of time for your journey and you won't have to race to get to your destination on time. Stripping the car of unnecessary ballast helps as well. Golf clubs, roof racks, and tools in the boot all put a bigger strain on the engine. Check your tyre pressures regularly to further improve fuel usage, and fill up at the cheapest petrol station you can find but don't be loyal, shop around.

Switch it off, whatever the weather

It's nice to get into a warm, pre-heated car in the winter, but be brave and don't start the engine until you've scraped the ice and frost off of the windows. It is a huge waste of money and bad for the environment. In the summer, avoid running anything electrical that you don't need — hot air blowers, window demister, even turn the radio off if you're not really listening to it.

If you put miles per gallon ahead of miles per hour you'll be amazed how much difference these measures can make. Over a year you can find yourself saving enough to pay next year's road tax or insurance renewal.

Home tips

Handy household hints to reduce the cost of domestic life

Running your home like a business will produce a better bottom line on your domestic balance sheet.

Running a home is not a 9-to-5 job — the hours are terrible and the pay diabolical — but treat it like a business and you can make huge savings each year. Energy costs are a worry right now, so the first thing to do is cap your bills. Don't think about doing it, or put it off until tomorrow, do it today. Speak to your providers before the next price hike kicks in. Once you've done this you can then set about reducing your usage.

Less charge all round

Keep an eye on what your kids are doing. You may find yourself constantly following them around and switching off their various electrical appliances. It only takes around an hour to fully charge a mobile phone yet kids happily leave them plugged in overnight, and encourage them to switch off games consoles, stereos and televisions. A typical PC left running for 24 hours will use £70 of electricity over a year — if you only use it for 2 hours a day you could save almost £60 each year by turning it off.

Turn the heat down for cool savings

Turning the thermostat down on your heating reduces your heating bills by 10%. You won't notice the difference in the warmth of your home but you will in your quarterly bill. Never use the washing machine unless it is full, and use a cool wash wherever appropriate. The same applies to the dishwasher. Use surplus hot water from the kettle in the washing up, and recycle the water from the baby's bath to wash the car or give the garden a drink. Try taking showers instead of baths to reduce your water and gas bills, and keep your time in there to a minimum. A shower uses 6-10 gallons of water per minute. Knock 2 or 3 minutes off of your daily ablutions and you'll notice the difference in your pocket.

These are just a few really simple measures that any of us can take to reduce our energy usage. Better than feeling the heat when the bills drop through the letterbox.

Finance tips

Bags of ways to be clever with your money matters

Get kids into the savings habit as soon as possible — they might thank you one day

Saving isn't just about you after all. Encourage young relations, or your own offspring, to save by opening a bank account for them. And they'll love the starter goodies they get, like a piggy bank. It could be a good idea to only let them contribute to an account, but not withdraw. A good incentive might be that you'll match however much they save every month or so. Our Island First account can start your little ones on the road to saving.

Play smart

Before you start building a nest egg, make sure you are paying off any outstanding consumer debt. Always pay off debts with the highest APR first because these are costing you the most in interest charges.

Save, save, save

Once you've freed up some extra funds, open a savings account and set up a direct debit for a set amount each month. Don't worry if it's a small amount, the most important thing is to get yourself into the savings habit and make it a top priority. Saving should always be one of the first things you do with the money you earn, not the last. And remember you can increase the amount over time. Find a savings account to suit your needs.

Review your finances

Our lives and financial situations don't stay the same; they can change. You may get a better-paying job or you may get a pay rise or receive some inheritance. As a result you may be able to save more and want to take advantage of other products, such as term deposits or stock-market-related investments. When you are making your decision, always be aware of your risk tolerance. Have a financial health check in branch to make the most of your money.

Lifestyle and shopping tips

Helpful habits and trusty techniques to save you money in everyday life

There's a simple way to turn dusty possessions into shiny money

"Junk" is an ugly word. It implies that your unused belongings are worthless. Nothing could be further from the truth. Virtually everything has its price. The clothes you'll never wear again, the books you've read and the Christmas gifts that you didn't ever want in the first place all have a loving home waiting for them. All you need to do is find the right buyer, and the internet has made that process much simpler.

Use your head to maximise your profit

Online auctions are a great way of converting your unwanted items into cash, and a few golden rules will make the difference between picking up small change or big bucks. Be creative with your listings to make them stand out from the crowd. Include a picture wherever possible. This will cost you a few extra pence but is worth the investment. Set your auctions to end at around 8pm — 9pm on a Saturday or Sunday when most people are at home — a late finish time also allows for the difference between time zones and gives you more chance of picking up custom from abroad, particularly America.

Music to your ears

DVDs, CDs and even old vinyl can still bring in money instead of sitting around taking up storage space. Music buyers in particular are extremely passionate and will pay top money if you have something that they desperately want. If you haven't got the time or patience to list all of your discs individually on auction sites, there are companies online who will buy them from you in bulk. All you have to do is enter the details and you get an instant valuation and quick payment

Year-round entertainment — for little or nothing

Once you have cashed in and created valuable shelf space, don't rush out to fill the gaps with more films, music or books. There are hundreds of online clubs you can hire them from these days. Best of all, your local library has a wide range of movies, music that you can borrow very cheaply — and books of course, that are absolutely free.

Remember be ruthless with your possessions. If you've not used it in the last six months or so, the chances are you never will. Clear out your clutter and watch the cash come rolling in.