Feeling the pinch? Here’s how to stave off the threat of rising UK prices

You may have heard in the news over the past few days that the UK’s rate of inflation has jumped to 2.9%, a four-year high that came as a bit of a surprise to many economists. But what does this actually mean for people and families up and down the country?

It effectively spells higher prices for goods and services across the board, particularly clothing which has become more expensive due to rising import costs for retailers. According to the latest figures from the Consumer Price Index, petrol prices have increased from 1.8p a litre to 115.7p over the course of August, while diesel rose 2p to 117.6p. In both cases, experts say that this is also a continued knock-on effect from the falling price of the pound, which has dropped 13% since the Brexit referendum last June.

As for wage growth, recent statistics from the ONS also show that the value of the average British pay packet remains unchanged in months, and therefore lagging behind the rising cost of living.  The challenge now facing households is working out how to stave off the impact of inflation wherever they can, particularly in the key areas mentioned above.

Making your money go further

The weekly shop. Most households have their preferred choice of supermarket nailed down, and this is often based on convenience rather than value. While most of the big UK supermarket brands may be closer to our home, or offer online delivery, it usually pays to scout around places like Aldi or Lidl to find bargain deals on your pricier purchases such as meat or alcohol. Get hunting!

An alternative commute. If you’re a regular commuter and drive to and from work in the car every day, it’s worth weighing up the total cost of your weekly petrol against public transport options. This might mean that you have to get up slightly earlier in the morning, or make walking a bigger part of your daily routine, but that isn’t necessarily a bad thing – and if you stand to save a few bob in the process, even better.

Track your spending. For those who are serious about making their monthly income go a little further, it might be worth downloading a personal finance app that can help you to measure and manage your daily and monthly expenditure. Most of these apps are quite intuitive and can be synced safely with your personal bank account. Clever, huh?

Deadline to spend your old £1 coins looming

Almost six months have passed since the new 12-sided pound coin was unveiled and introduced into financial circulation by the Royal Mint. Although the new design is thinner, lighter and said to be the most difficult coin in the world to counterfeit, it also effectively spelt the death knell for our beloved ‘round pound’, which has been in circulation since 1983 when it was introduced as a replacement for the former £1 note.

During  these 34 years, it’s said that over two billion pound coins have been printed by the Mint, making it one of the most widely produced coins in British history. Now, people living in Great Britain only have a limited time remaining to spend, bank or donate their old pound coins before they becomes obsolete and no longer usable.

The deadline

If you have any old £1 coins lying around in your wallet, or down the back of the sofa, you have until 15 October to spend them. This is the date by which shops and businesses are legally allowed to refuse the old coin as legal tender.

For those who are looking to make every penny go as far as possible, we recommend having a major review of every nook and cranny in your house to make sure you’ve no quids lying around.

Adam Lawrence, the chief executive of the Royal Mint, said: “The end of the round £1 is a significant chapter in the Royal Mint’s 1,000-year history, and I’m sure that many in Britain who have grown up with the familiar round coin will experience a certain amount of nostalgia when the last one comes off the presses.

“The Royal Mint is constantly looking to the future, however, so, whilst the round £1 has served us well, it is time to turn our attention to the new £1 that in time will be used by millions of people in Britain and become equally well-recognised across the world.”

Is the Internet changing our holidays?

It’s not all that long ago that the very idea of booking your holidays online seemed like something out of a science fiction movie. Fast forward to the modern day and it’s clear that digital technology (particularly the Internet) has changed the way we do things forever, and it seems that taking our vacations is no exception to that rule.

But it’s not just the process of booking your jollies that has been updated for the modern world. It’s safe to say the Internet has made its stamp on the average holiday in a number of different ways – and we’re here to run through a few of them for you…

Well-connected airports

The journey to the airport is always one full of promise and anticipation. Now, the very act of being there has been optimised and streamlined by the Internet of Things.

Aside from the ability to cut the queues and check in online before getting there, many airlines now let you download your boarding pass to your smartphone or tablet, so you don’t have to worry about any missing tickets or paper. Not only that, certain airports even send you notifications when your passenger gate opens, or if there’s a delay on your flight.

Bye, bye maps

When you picture a tourist, it’s hard not to conjure up the classic image of them floundering with a oversized map of the city, trying to pinpoint their path to a beautiful bridge, church or some other local landmark.

This image is becoming far less commonplace these days, all thanks to our friend the Internet. Mobile 3G data (or 4G if you’re really lucky) allows holidaymakers to ditch the A3 fold-up map in favour of one that is a fraction of the size, completely intuitive at the touch of a thumb and that even directs you where to go! All things considered, that’s some feat that has probably saved a lot of tourists a lot of time getting lost.

A bigger voice

In the past, the prospect of a bad experience with a particular travel agent, airline or resort was often brushed under the carpet to an extent. People could lodge complaints, of course, but the need for the organisation or establishment in question to address these concerns was always a private affair.

That’s certainly not the case now with social media. Many people are choosing to voice their bad experiences on Twitter or Facebook, where their entire network (potentially thousands of people) get to view their displeasure for a particular experience. No wonder then that some of these companies make a show of replying to the customer in kind, promising them freebies or discounts or whatnot! Not bad, eh?

First time buyer? Here are 5 tips to save money in your new home

So you’ve finally got a firm foot on the property ladder and now find yourself sitting at a kitchen table that you can call your own – congratulations! All that saving has proven worthwhile, and so begins the enviable task of unpacking the mountain of boxes that line various rooms throughout the house. Lucky you.

Of course, such an occasion clearly warrants the ordering of a takeaway to christen the new place in style, but we recommend that you don’t make a regular habit of it. For most homeowners, it’s essential to maintain a tight handle on finances to keep up with mortgage payments, bills and to rebuild a nice little nest egg for all those home improvements already in your mind’s eye.

We’ve put together this neat little list of tips, tweaks and changes that could help you put away a few extra pennies each month in your new home. Have a read through and see which ones might work for you…

Handling the heat

While it may not seem like the most attractive of tasks, it’s well worth popping up to your attic and having a root around the insulation you have between the beams up there. Is it installed correctly? Is it at least 6 inches thick?

These are key considerations that may save you money on your heating bills during the winter months. If your house is poorly insulated it means that heat is able to escape more easily, and therefore your central heating system is likely to be working overtime to keep the temperature up.

Lightbulb moments

If you’re looking to cut down on the cost of electricity in your household, conducting a full-scale review of your lightbulb situation is an integral element.

You may want to consider switching to LED bulbs. While they’re definitely more of an immediate investment than standard bulbs and will set you back a few pounds more, they use very little energy, contain no mercury vapour and last at least 10 years. Financial savings aside, imagine not having to change a lightbulb for an entire decade!

Forget the tumble dryer

When the tumble dryer first started becoming a fixture of British homes back in the 20th century, the technology was considered to have spurred a small household revolution. Finally, the days of hanging out clothes to dry on a washing line were over. Joy!

But are tumble dryers really that necessary? Compared to their washing machine counterparts, we’d have to say no. Hanging clothes out on a line (preferably under shelter from potential rain) may take a little longer for them to dry, but it’s certainly far cheaper and more environmentally friendly.

Cook up a storm

A really simple tip that is more like common sense than rocket science. You remember what we were saying earlier about the takeaway curry? Of course, it’s okay to treat yourself every now and again, so long as you avoid falling into the trap of ordering food every other night.

Technology hasn’t helped in this respect because there are a whole host of newfangled apps designed to make ordering a takeaway a piece of cake. Well, don’t give in! Make sure you stick to your weekly shopping schedule and force yourself to whip up a quick meal in the kitchen, even when there’s a slight feeling of ‘I can’t be bothered’.

Back-to-School: The bits and bobs you can pick up for a bargain

With the summer holidays now in full swing, no doubt you’ve been enjoying some extra time with the kids, and plying their free time with as many activities (and chores!) as possible.

For parents who like to plan ahead as much as possible, thoughts will soon turn to the new school year, only a month or so away. We know all too well that the cost of sending your child into the next year at school can soon rack up, especially if you’ve more than one little darling in your ranks. But while certain essentials, like a new pair of shoes, are obviously better-bought brand new, there are plenty of bits and bobs that you can pick up second-hand for a fraction of the retail price.

A good idea would be taking a full inventory of your requirements before starting the big push, as this will allow you to get a clearer view of where you could potentially save a few pennies. Here’s a choice handful of our best back-to-school bargain tips…

Textbooks

With each new school year comes a fresh curriculum, and a fresh set of textbook requirements. The total cost of that book list can seem a tad daunting, particularly if your child has reached GCSE level and beyond.

Scouting around on online directories like BookFinder, or even Amazon, which cleverly compile a comprehensive list of used textbooks from a wide range of online vendors. Just make sure you’re getting the correct edition of the title in question, and you’re good to go!

Laptops

Whether completing assignments or coursework, or making regular use of interactive revision tools, a good quality laptop or PC is now absolutely essential for the 21st-century high school student.

Fortunately, there’s more choice than ever when hunting down the best bang for your buck, providing you know what to look for in a solid spec. You won’t need anything higher than an i3 (or equivalent) processor, 250GB hard drive and 4GB of RAM, which will set you back somewhere around the £200-300 mark.

Musical instruments

Got a keen violinist, trumpeter or, heaven forbid, drummer in the household? Before you go forking out top dollar on a brand new instrument, it’s well worth checking any local classifieds and notice boards to see what’s available.

Even if it means replacing a few strings or two, chances are you’ll be able to pick up something decent for a fraction of the price, especially if your child is still at a fairly beginner level.

PE kit

Any parent will know that sports gear is one of the main back-to-school expenses that they’re likely to face each year. As with school shoes, it makes sense to have a good quality pair of all-purpose trainers that your child can use for PE, but beyond that, you should be able to pick up a few bargains when scouting around for shorts or shin pads or a second-hand tennis racquet.

Before you head into your nearest sports megastore, why not get the feelers out on social media to see if any friends have any unwanted items or scout around local thrift shops and discount stores to see what you can find at a good price.

A beginner’s guide to haggling in the UK

In many countries, cities and marketplaces dotted all over the planet, haggling is a way of life. No doubt most of us will have been caught up in the excitement of haggling at some point, probably on holiday.

The rudimentary process of buying and selling is less of a soulless transaction in these places, and more of a ballet that has been going on for centuries. There’s no danger of looking cheap for wanting to get a fair price for something, particularly if you think it’s far more expensive than what it should be. In fact, if you choose not to haggle in countries with ingrained haggling tendencies then it’s almost certain that you’re going get ripped off. It’s a necessary game that people must play, and enjoy.

But not so much in the UK, right? Think of the way that any major supermarket operates and you might say it’s indicative of our way of life. We now rely on fast-paced services that require as little human interaction as possible. We’ve replaced humans on the till with optimised robots who almost rush you into gathering your bags and change, and leaving the shop.

The very idea that haggling could become a part of our day-to-day life seems more unlikely now than ever before. We’d argue otherwise.

Location, location, location

Okay, so while haggling over the price of a cheese and onion sandwich in Tesco isn’t likely to get you very far, there are plenty of independent shops, butchers, bakers, grocers etc. where you can strike a deal with the proprietor, particularly if you’re looking to buy several items.

In this sense, twenty-first-century life has been built on convenience in favour of best value for money, or quality. By seeking out the more informal shopping atmosphere that tends to be found in an independent shop, it’s far more natural to engage the shopkeeper in conversation. If you find an item with a slight issue, a shirt with a button missing or a cushion with a slight mark, then it’s likely you can talk your way into saving a few pounds.

The online haggler

If you thought the art of haggling would soon bite the dust in the digital age, think again. The Internet has afforded shrewd shoppers with more opportunities to sniff out a deal.

Live web chats are a great way to interact one-on-one with a member of staff and ask for discount codes, promotional offers and free delivery. Certain social media platforms like Twitter also allow people to broadcast their views on a particular product or customer service experience to the general public, which can often prod the business into getting in touch with the customer with a discount or some sort of freebie.

Point out your loyalty

As a customer who spends money regularly with a certain business, it’s only fair to expect some recognition for your ongoing loyalty. Fortunately, many businesses do make efforts to reward their regulars in some way, even if you have to ask for it.

For instance, the next time you’re in the market to upgrade your mobile phone then it’s worth pointing out how long you’ve been on your contract for. This could easily land you a discount, a better tariff or more 3G data each month.

Trouble nodding off? Try these expert tips for a better night’s sleep

We have all been told the importance of a good night’s sleep, though there are a whole host of reasons that may prevent us from sufficiently recharging our batteries when we hit the pillow each night.

According to the latest Great British Sleep Survey, most people in the UK are kept awake by their own stresses and worries about what happened today and what they’ve got on tomorrow. And although there are common physical factors such as noise, bodily discomfort and needing to make regular trips to the toilet, it seems that psychological stress is the most prevalent cause of sleeplessness.

The fact is that poor sleeping habits affect every aspect of our daily lives, and we tend to feel the impact most during the following day, both physically and emotionally. That’s why regular sleeping habits are absolutely essential to secure a healthy lifestyle routine.

With this in mind, let’s take a quick look at some expert tips for getting a better night’s sleep… and no, we don’t just mean counting sheep.

Exercise

We often think of exercise in terms of its physical benefits, but the psychological plus points are just as important, if not more so. The energy we generate within our bodies by eating food throughout the day needs to be regularly burned, not just to prevent gaining weight, but also to make us more mentally ready for bed.

You don’t need to go too deep into the physiological science behind this to realise that building up a sweat as part of an hour’s daily exercise is often more than enough to ensure we’ll be reaching the Land of Nod sooner rather than later.

Evaluate your mattress

They say the two most important possessions you can have in life are a good mattress and good pair of shoes, because if you’re not in one, you’re in the other. Maintaining the quality of your mattress is so important to prevent common ailments like back ache, which in turn can severely affect the quality of your sleep each night.

If you find yourself tossing or turning just to find a comfortable spot where you’re not necessarily being poked by the odd spring or two, it may be time to get down to your local bed shop.

A medium to firm mattress is more advisable than a soft mattress with little support – and it’s an investment that can work wonders for your sleep pattern.

Cement your own bedtime ritual

First of all, it’s really important to set yourself a time that you turn the lights off each night and get into bed. Your mind will eventually become conditioned to the action of turning off the lights, and the challenge of falling asleep will become easier and easier.

However, it pays to think about what you’re doing beforehand too. People have a tendency these days to be glued to their smartphone or tablet screen even when they’re lying in bed. By disconnecting earlier in the evening, an hour before you plan to go to sleep for instance, and perhaps spending that time reading a chapter or two of a good book, your brain will feel more ready to hit the hay than it would otherwise.

Life Hacking: Productive morning habits worth trying out

Many of us find it challenging enough to get out of bed on the right side each morning, but really it’s what we do as soon as we’ve opened the curtains that can have a huge impact on our attitude towards the day ahead.

If you’re looking to squeeze every bit of productivity out of your waking hours,  it’s well worth genning up on this list of morning hacks, each designed to enhance your daily routine from the first ring of your alarm clock. Even if you decide to commit to one or two of these habits, that might still be enough to improve your standard morning experience. Heaven forbid, you may even find yourself looking forward to it.

Let’s see which ones might work for you…

1. Prepare your breakfast the night before

More often than not, one of the main issues that comes with an ineffective morning routine is the tendency to skip breakfast – our most important meal of the day.

By cutting up fruit, preparing plates and making sure your favourite cup is ready to go the night before, you’re actually preparing your brain to wake up with the extra motivation of an easy, stress-free breakfast.

2. Forget the snooze button; drink water

When our alarm clock goes off, many of use have a tendency to hit the snooze button as soon as possible. In fact, sometimes it almost seems to be an innate human reflex.

Well, it doesn’t have to be. The snooze button simply isn’t conducive to making the most of your mornings, so it’s probably for the best to cut it out altogether. One trick you can try instead is to keep a glass of water on your bedside table. Taking a big swig as soon as your eyes open can help the body and mind to wake up – or, you’ll at least feel a greater need to get yourself to the bathroom.

3. Set a morning playlist

German philosopher Immanuel Kant once referred to music as the quickening art – and we’d be inclined to agree, especially in the context of a morning routine.

Setting up a playlist full of your favourite songs is a great way to apportion time to certain tasks. For example, you might say to yourself that by the time the fifth song ends I want to be dressed and ready to leave the house. Oh, and don’t forget that a little morning boogie can really help to get the blood pumping.

4. Drink your morning coffee outside

While this isn’t always advisable (especially in the UK), going outside into your garden or balcony to drink your preferred choice of warm beverage is a good habit to get into whenever the weather permits, especially in summer.

Breathing in that fresh morning air and taking a moment to observe life within your vicinity is a far more natural start to the day than immediately checking your emails first thing. You’ll have plenty of time for that throughout the day.

5. Designate a space for your phone, wallet, keys and bag

This is a biggie. There is nothing worse than not being able to find your car keys in the morning, largely because you often have nobody to blame but yourself.

That might sound a tad harsh, but all that stressing out can so easily be avoided by setting out a clear space to put the most important items of your daily inventory. This way, you’ll know exactly where to find them each and every morning before you leave the house – and it’s very likely that you’ll appreciate having made life a whole lot easier for yourself.

5 easy ways to save money on your weekly food shop

Love it or hate it, the weekly shop is a recurring tradition for families the world over. It also presents a key opportunity to get smart with our money, particularly if we’re looking to keep a tight rein on budget.

The good news is that there are plenty of quick tweaks that could easily save you hundreds of pounds over the course of a single year – and none of them involve missing out on your favourite bits and pieces.

Here are five easy ways to save money on your weekly food shop…

1. Choose value over convenience

When faced with the choice between supermarkets, a lot of people tend to automatically opt for the one that is closest to their house. But while this convenience is certainly a plus, it’s not always the most cost-effective.

Scout out a few different supermarkets before deciding which one offers the best value for your average weekly spend.

2. Write a list (and stick to it!)

By taking a few minutes to jot down a list of all the things you need for that week, you are far less likely to go out spending on a whim, and it will definitely cut down the time you spend rambling around the aisles.

Remember, idle browsing is the enemy of the conscientious budgeter.

3. Cash in on vouchers and coupons

Whether it’s Nectar points at Sainsbury’s or a Clubcard at Tesco, regular shoppers can benefit greatly by building up their balance of bonuses.

The trick here is to get into the habit of using your card every time you nip into the supermarket. It might take a few months of restraint before your bank of points starts building, but just remember you’re putting yourself in a good position to save further down the line.

4. Fill the pantry

How often does the idea of ‘not having anything in the cupboards’ result in getting a takeaway? Quite often, we’d say.

Make sure you’re well stocked on long-lasting items such as rice, pasta, olive oil, tinned tomatoes and the like. These should be considered essentials that enable you to whip up a quick meal whenever necessary.

5. Go big on non-branded items

The question as to whether one can actually tell a discernible difference between branded and non-branded items is a really interesting one – and likely to be rooted in our own psychology.

If you’re still adamant about a difference in quality, why not set yourself a taste test on things like ketchup or cornflakes and see whether you’d be happy putting more non-branded items in your trolley.

Are contactless cards worth the risk?

It’s not difficult to see why contactless cards have become so popular. Who wouldn’t prefer to pay for small purchases like coffees and train tickets with a single tap? But while £25.3bn was spent using the contactless cards last year, new figures from Financial Fraud Action UK suggest that we should be cautious when using the technology.

Contactless fraud recently grew by almost 150% in 2016 – increasing from £2.8m to £6.9m in the space of a year. This might only represent 1.1% of total card fraud, but with contactless adoption still on the rise, it’s worth knowing the risks.

In 2015 the consumer comparison website Which? discovered a flaw in contactless cards using a card-reading technology which is easy to obtain online. They were able to remotely steal details from a number of sample cards, using them to make purchases including a £3000 TV.
While a £30 limit exists on payments made in store on contactless cards, this exploit makes the limit irrelevant, as it only requires the card details which you would typically use in an online purchase.

A more immediate risk comes from the fact that many businesses process contactless payments offline, with card machines storing up a number of payments which will be processed long after the transaction. This allows fraudsters to use cards which have been cancelled, often without the victim’s knowledge, as some banks don’t inform their customers when a cancelled card has been used.

This places the onus on customers to discover and challenge fraudulent payments on their cards, which can be difficult considering the huge range of minor transactions which they are now used for.

How to avoid contactless card fraud

There are a few key steps you can take to avoid contactless fraud. While it might sound like the equivalent of wearing a tin foil hat, using a specially lined wallet could help to prevent your card from being ‘skimmed’ (having its details stolen) by scammers.

You should also be careful to never hand over your card to servers in bars, cafes and shops who may use the opportunity to run it through a skimming device while out of sight. Asking for receipts is also important, as they frequently aren’t offered to contactless users. Frequently checking your transactions will help to ensure that you are aware of any unusual transactions and that you aren’t being overcharged.