If your debts are a problem and you are really determined to get out of the debt trap, then there are some adjustments that you can make to your lifestyle to help you move closer to a debt free life.  Here are 6 areas that you could consider when trying to reduce your living costs….. 

1. Home –Look at the cost of running the house you live in.  Are there any cheaper alternatives?  For example, could you look at downsizing to a smaller house?  This would save on your mortgage or rent as well as your utility costs, and you may even make a saving on your Council Tax bill. 

Do you have a spare room?  If so, you could consider renting it out.  You are able to earn up to a yearly maximum of £4250 tax free!

2. Second Income – If you have some free time, could you try working a second job?  This would give some extra money to put toward your debts.    

3. Car – Most of us see our car as a necessity, but is it essential?  The cost of running a car is not just the fuel that you put in it on a weekly basis, it is also insurance, maintenance, servicing, and car tax.  Can you walk, cycle, or car share?  As well as saving money and getting fitter, you would be saving the environment!

If you have 2 cars in the family – could you manage with one car for a while without too much disruption to your family? 

4. Holiday alternatives – We all look forward to getting away in our spare time, but it doesn’t mean you have to spend on a holiday away from home. Consider arranging an activity for each day you have off. These don’t have to cost a lot, look at free museums, picnics in the park, or walks. 

5. Your Lifestyle – Do you pay for a gym membership that you have not used in a while?  Do you use all of your mobile phone allowance?  Do you need the extra sky box that is in the spare bedroom?  All these things add up to extra expense in your budget.  If you are tied to a contract you could always try talking to your supplier and see if you can reduce your monthly payment. 

6. Your Habits- Do you realise that if you smoke just 10 cigarettes per day then you are spending £90 per month on tobacco; that is £1080 per year.  A sandwich and a latte at lunchtime could cost you £5 per day – this would equate to £1296 per year.  Frightening thought! 

Could you consider taking a packed lunch or changing to cheaper tobacco products?

Why not set yourself a challenge?  How much money can you save in your budget by making some changes to your lifestyle?

Summertime can work out an expensive time of year - whether it is taking the kids away at the school holidays, numerous BBQ’s, or family days out. Here are a few ideas to help you enjoy the summer sun without blowing your budget.

As soon as the sun pops out the British tradition is to have friends round and light those BBQ’s. There are many ways you can do this on a budget:

• Share the load - ask your friends to bring a bottle and some food
• Look for competitive supermarket deals – two for one offers, etc
• Make your own burgers and kebabs
• Entertain the children with games like hide and seek or have a paddling pool available – ask a friend to bring one if you don’t have one

Fun Family Days out

Summer on a budget is not just about being in the garden, so if you fancy a day out read on!

• Theme Parks  - Look for vouchers in the papers and online (link to MSE days out savings)
• Local Parks – You could explore your local parks, whether it is a romantic stroll or organising a treasure hunt for the kids. To cut down on costs further why not take a picnic?!
• Museums – Most museums are free to the public so why not learn more about your heritage.
• Seaside – The seaside is not only for kids, however if you are packing the children then they could look for crabs in rock pools or have hours of fun building sandcastles
• Bike Rides – If you’re feeling energetic look out for local parks and woods with bike trails.
• Swimming – children under 16 and adults over 60 swim free in England - a great way to have fun and keep active.

Holidays and weekends away

After working hard all year, you deserve a well earned break that won’t break the bank

• Online discounts – major hotel chains offer online discounts and room sales. Don’t forget price comparison sites as you may get the same room cheaper by booking through another website.
• Camping – fancy a bit of adventure and getting back in touch with nature, then you can pick up a cheap tent and hop into the wilderness. Organised campsites are also available countrywide and are fairly cheap to book.  
• Budget airline offers – There are fantastic deals to be had, but watch out for the booking fees! If the accommodation bumps up the price why not have a day trip and travel back late evening?
• Visit family or friends – if they have an extra room, you could ask if you could stay over and return the favour next time
• Home Exchanges/ House Sittings – home from home! Why not exchange with someone in the UK and or abroad. There are a number of websites on the internet where for a small fee they will put you in touch with other site members.