Wednesday 4 March 2009

Remember to take advantage of any points or savings schemes from your supermarkets. You will be buying ten times the amount of stuff you buy now so they soon mount up. The main schemes are Tesco Points and Sainsburys Points, if you have an ASDA Store card you get good cash back but make sure you pay it off in full every month because they have a very high rate of interest. Also shop around for your credit card you can do as my parents do collect a great number of air miles if you are careful. This is especially the case if you have to buy a lot of big things like washing machines and beds. Also it can be economical from the point of view that the bank charges you to put money into your current account and to take it out. They do not however charge you to use your credit card and the transaction to pay it off is classed as one transaction so this may be cheaper to manage your money this way. Also you have the second advantage of the itemised receipt from the credit card and if anything goes wrong with your purchase you have a secondary guarantee. Only do this though if you have the discipline to pay it off every month!

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