Monday Money

I’m really inspired by the many people on Instagram sharing their progress towards paying off debt and getting out of the red for good.  I know how easy it is for borrowing to build up and, before you know it, it’s suffocating. Laying out a budget with income and outgoings is the only realistic way to get a grip on finances. . Charting progress is a great way to stay motivated and knowing that you’re not the only one in this position can also be incredibly comforting - you can find some of these accounts through #debtfreecommunityuk #debtfreecommunity #debtfreejourney and #debtfree . But at the same time as these great accounts, there are reality tv stars on instagram, presumably being paid, to promote debt management companies and their owners. It seems pretty irresponsible- in many cases paying for help with debt only makes the situation worse. There is a lot of FREE help available to anyone who needs help and advice on debt, including the charity StepChange , as well as...

From the start of this month, you can buy Premium Bonds with just £25 - down from a previous minimum of £100. Premium Bonds are essentially a big monthly lottery offered by the government through NS&I , where you stand to gain up to £1m in prizes.   Y ou buy bonds to enter, which you can then cash in at any time.  I use Premium Bonds as place to stash the majority of my medium term savings, alongside high interest current accounts. I know my money is safe and can be accessed quickly (within a couple of days). Plus I like the excitement of being in with the chance of winning up to £1million each month. However, there are no some downsides of putting large amounts of money in Premium Bonds. How PBs work The prizes range from £25 and go up to £1million, and you can hold between £25 and £50,000 of bonds. But the odds of winning anything at all are very low and there is no interest offered alongside the prizes. NS&I says the priz...

Who hasn't daydreamed about winning the lottery? The holidays, treats for friends and family, and giving up work makes for a nice little fantasy when you're feeling the grind. But the reality is playing the lotto - a couple of pounds, a couple of times a week - is pretty expensive and quickly adds up. And we all know the chances of winning the jackpot are basically a zillion to one. This is why Pick My Postcode [aff] is a genius alternative free lottery that definitely won't leave you out of pocket - but could leave you quids in. Jackpots on the site are generated by paying advertisers, rather than an entry fee. You simply sign-up with your postcode, which is then entered into daily draws and check the site each day to find out if you've won. There are a number of draws throughout the day, but the main draw is worth £500. You have to log on to the site to claim prizes, which in turn generates website views for the advertisers. Users have 24 hours t...

I've made nearly £300 just from switching my current account in the last three years. I now have two bank accounts, and thinking of switching one again, as there are some pretty good cash incentives around at the moment. First Direct is offering £100 to switch; Halifax £50 upfront and £85 in another six months, and NatWest and HSBC are both offering £150 to switch. It's so easy to switch account when you use the switching service, all direct debits are carried over and you don't need to worry about any of the paperwork between the two accounts.   Of course, it's important to have a current account that suits your needs, whether that's a cheap overdraft or high interest. I know lots of people are reluctant to switch bank account - precisely because they are happy with their provider. Part of the reason I ended up with two bank accounts is so I can keep one that I like and use another for switching.. if you want to do this, just make sure you keep track o...

There's something really therapeutic about having a clear out of old clothes and giving your wardrobe a bit of a blitz - especially in January. It just makes your whole mindset feel less cluttered and more organised. eBay and Facebook marketplace are great for selling individual items - it's also worth bundling together vest tops or baby clothes that won't sell for much on their own. There are are also some lesser known, high street recycling schemes that can be used for items that you would otherwise bin. It means any textiles from odd socks, ripped trousers to old primark t-shirts can be saved from landfill. Just pop all these old bits of clothing into a carrier bag. Then either take it to H&M where you get a £5 voucher that can be used on any £25 or more purchase, or & Other Stories where you get a 10% off voucher . & Other Stories also give 10% voucher when you bring back one or more of their beauty containers to store. If you're partia...

Life right now is basically a haze of food and TV with the occasional walk thrown in. Who even knows what day it is? But I've found the downtime in this 'in-between bit' is actually a good opportunity to get some life / money admin done. A couple of changes now make all the difference come the end of January when the struggle to get to payday is real. This time last year, I effectively halved my phone bill by moving off my contract and on to a sim-only deal. I also changed energy supplier, probably saving a good £20 or so a month. If you want to be better with money in 2019, here's a checklist of things to do now that will start January off right... ⇨ Reached the end of your mobile phone contract? You'll keep paying the same price even though the phone is paid  off. If you don't want to upgrade models move on to a sim-only deal. ⇨ Change energy supplier. This is so quick and easy to do. Use a comparison site such as uSwitch to find the best d...