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  • #17 Shop at Larger Stores (Bigger is Better)

If you have a big supermarket near you but you currently shop in the small, convenient stores then STOP! You are probably paying a premium just for using a smaller shop. Instead, you should try to use the larger shop as prices are likely to be around 10-15% cheaper. There is also the added bonus of extra choice and so your savings could be even greater than these figures.

If you don't think this is worth it then let's do some simple calculations. Let's say you spend £40 on food per person per week in your household (it may be more, it may be less). This is £2080 per person per year. Now let's say that the larger supermarket is on average 15% cheaper (likely an underestimate). The savings per year would be £312 per person per year. That is A LOT of MONEY just from shopping in the wrong store. For a family of 4, this could be well over £1000 of savings each year. 
Obviously the extra money spent on getting to the bigger store must be factored in (e.g. fuel costs and time). But if the difference between the two stores is negligible then it is definitely worth shopping at the larger store. .
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget #shopping
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #17 Shop at Larger Stores (Bigger is Better)

    If you have a big supermarket near you but you currently shop in the small, convenient stores then STOP! You are probably paying a premium just for using a smaller shop. Instead, you should try to use the larger shop as prices are likely to be around 10-15% cheaper. There is also the added bonus of extra choice and so your savings could be even greater than these figures.

    If you don't think this is worth it then let's do some simple calculations. Let's say you spend £40 on food per person per week in your household (it may be more, it may be less). This is £2080 per person per year. Now let's say that the larger supermarket is on average 15% cheaper (likely an underestimate). The savings per year would be £312 per person per year. That is A LOT of MONEY just from shopping in the wrong store. For a family of 4, this could be well over £1000 of savings each year.
    Obviously the extra money spent on getting to the bigger store must be factored in (e.g. fuel costs and time). But if the difference between the two stores is negligible then it is definitely worth shopping at the larger store. .
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget #shopping

  •  2  0  4 hours ago
  • #16 Let compound interest work for you

This is a big one and really is what turns people into millionaires (or not). It's all about compound interest and how you can earn interest on interest on interest.... and so on. When you have compound interest working in your favour then there is a big opportunity for your wealth to grow. However, when you are working against compound interest it makes it hard to save and grow your wealth. Let's take a look at it.

When considering compound interest an example is the easiest way to get the point across. Say we have £100,000 invested which returns 7% per year and that these returns are immediately reinvested. After 10 years the investment would be worth £196,715. After 20, £386,968 and after 40 years it would be worth £1,497,445. Now this is a very simple model (excluding inflation, changes in growth rate etc) but it clearly illustrates that when compound interest works in your favour it can increase your wealth drastically. 
Alternatively, when it is working against you (e.g in the form of loans etc)  the amount you owe grows in a similar way. This is why it is imperative to make compound interest work for you rather than against you. .
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget #compoundinterest
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #16 Let compound interest work for you

    This is a big one and really is what turns people into millionaires (or not). It's all about compound interest and how you can earn interest on interest on interest.... and so on. When you have compound interest working in your favour then there is a big opportunity for your wealth to grow. However, when you are working against compound interest it makes it hard to save and grow your wealth. Let's take a look at it.

    When considering compound interest an example is the easiest way to get the point across. Say we have £100,000 invested which returns 7% per year and that these returns are immediately reinvested. After 10 years the investment would be worth £196,715. After 20, £386,968 and after 40 years it would be worth £1,497,445. Now this is a very simple model (excluding inflation, changes in growth rate etc) but it clearly illustrates that when compound interest works in your favour it can increase your wealth drastically.
    Alternatively, when it is working against you (e.g in the form of loans etc) the amount you owe grows in a similar way. This is why it is imperative to make compound interest work for you rather than against you. .
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget #compoundinterest

  •  3  0  16 September, 2019
  • #15 Save while your young as you can live on much less

People often don't realise the financial decisions that you can get away with when you are young. Today we are going to explain how these decisions can save you a lot of money.

When you're in your 20s no one expects you to have life figured out. They don't expect you to drive a nice car and they don't expect you to own a mansion. This means you can cut costs in many areas of your life without anyone thinking it is strange. For example, you can live with friends (not only is this extremely fun it also saves you a LOT of money), you can drive an old car or get public transport and you can go on cheap nights out. Your age really is a ticket to save a lot of money and it is often an opportunity that many people don't capitalise on.

The technique to capitalising on the expectations of people of your age is to live well below your means. Many of you will have just finished being a student so why not carrying on living like a student for a few years whilst earning a starting salary. This will allow you to save and invest on even very low pay. As you get older you can slowly increase your standard of living, but by realising that you aren't expected to live an expensive lifestyle at your current age, you can continue to make many savings.
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #15 Save while your young as you can live on much less

    People often don't realise the financial decisions that you can get away with when you are young. Today we are going to explain how these decisions can save you a lot of money.

    When you're in your 20s no one expects you to have life figured out. They don't expect you to drive a nice car and they don't expect you to own a mansion. This means you can cut costs in many areas of your life without anyone thinking it is strange. For example, you can live with friends (not only is this extremely fun it also saves you a LOT of money), you can drive an old car or get public transport and you can go on cheap nights out. Your age really is a ticket to save a lot of money and it is often an opportunity that many people don't capitalise on.

    The technique to capitalising on the expectations of people of your age is to live well below your means. Many of you will have just finished being a student so why not carrying on living like a student for a few years whilst earning a starting salary. This will allow you to save and invest on even very low pay. As you get older you can slowly increase your standard of living, but by realising that you aren't expected to live an expensive lifestyle at your current age, you can continue to make many savings.
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #debtfree #budget

  •  2  0  10 September, 2019
  • #14 Eat less meat 
If you're looking to reduce the cost of your weekly shop you should really consider eating less meat. Meat is considerably more expensive that vegetables and can make up a large portion of your food spending. Also, processed meat tends to be less healthy than vegetables and so you could improve your health as well as increasing your bank balance.

Let's take an example. Say you eat meat 5 times per week and let's assume by rough calculations that meat is £2 more expensive than the veggie alternative per person. By cutting down the number of days you eat meat to 2 times per week that is a saving of £6 per week per person. Over the whole year this becomes £300 of savings per person. Therefore, a family of 4 could save well over £1000 per year by simply reducing the amount of meat that they consume. These calculations are only provided for a ball park figure but they show that the savings can be significant. Think what you could do with an extra £1000 per year! Maybe an extra holiday? More investments? A bigger emergency fund?

If you combine this with buying own branded products instead of the big named brands then your shopping bill will fall drastically, freeing up extra cash for investing or saving.

It would be really helpful if you could like and share this tip so that more people are aware of the financial benefits of food choices. Tag people down below!
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #veggie #vegan #vegetables #meat #debtfree #budget #share #tips
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #14 Eat less meat
    If you're looking to reduce the cost of your weekly shop you should really consider eating less meat. Meat is considerably more expensive that vegetables and can make up a large portion of your food spending. Also, processed meat tends to be less healthy than vegetables and so you could improve your health as well as increasing your bank balance.

    Let's take an example. Say you eat meat 5 times per week and let's assume by rough calculations that meat is £2 more expensive than the veggie alternative per person. By cutting down the number of days you eat meat to 2 times per week that is a saving of £6 per week per person. Over the whole year this becomes £300 of savings per person. Therefore, a family of 4 could save well over £1000 per year by simply reducing the amount of meat that they consume. These calculations are only provided for a ball park figure but they show that the savings can be significant. Think what you could do with an extra £1000 per year! Maybe an extra holiday? More investments? A bigger emergency fund?

    If you combine this with buying own branded products instead of the big named brands then your shopping bill will fall drastically, freeing up extra cash for investing or saving.

    It would be really helpful if you could like and share this tip so that more people are aware of the financial benefits of food choices. Tag people down below!
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #brands #branded #veggie #vegan #vegetables #meat #debtfree #budget #share #tips

  •  3  0  9 September, 2019
  • #14 Charity shopping 
So you've been budgeting well, you've been using the 1 week rule but it has come to the time where you absolutely need some new clothing. Being the ultra savvy shopper you are, you don't want to spend much money. That's cool, just check out some charity shops.

Charity shops are one of those things that most people of heard of but very few have actually used. They are great for getting unique items for a fraction of the cost of high street shops. Now, I wouldn't recommend buying underwear from charity shops but things such as shirts and jeans are fair game. There is such a variety of clothing you can find in these stores and it is really just down to your own personal style. A lot of the time you can also get much higher quality items, especially if you go to shops in wealthier neighbourhoods where more expensive items are likely to have been donated.

The only downside to this type of shopping is that often you have to search for a while or go to multiple stores before you find what you are looking for. However, with a bit of practice you will be a charity shop boss saving £100s if not £1000s per year and helping a variety of fantastic causes.

Comment down below and tell us what you have managed to pick up at charity shops
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney 
#budget #debtfree #save #charity #charityshops
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #14 Charity shopping
    So you've been budgeting well, you've been using the 1 week rule but it has come to the time where you absolutely need some new clothing. Being the ultra savvy shopper you are, you don't want to spend much money. That's cool, just check out some charity shops.

    Charity shops are one of those things that most people of heard of but very few have actually used. They are great for getting unique items for a fraction of the cost of high street shops. Now, I wouldn't recommend buying underwear from charity shops but things such as shirts and jeans are fair game. There is such a variety of clothing you can find in these stores and it is really just down to your own personal style. A lot of the time you can also get much higher quality items, especially if you go to shops in wealthier neighbourhoods where more expensive items are likely to have been donated.

    The only downside to this type of shopping is that often you have to search for a while or go to multiple stores before you find what you are looking for. However, with a bit of practice you will be a charity shop boss saving £100s if not £1000s per year and helping a variety of fantastic causes.

    Comment down below and tell us what you have managed to pick up at charity shops
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney
    #budget #debtfree #save #charity #charityshops

  •  3  0  8 September, 2019
  • #12 Don't be peer pressured 
With the invention of social media, there is a bigger budget killer than ever before. Peer pressure. It may not take the form of someone directly telling you what you should buy but it is nonetheless still prevalent. We are constantly comparing ourselves to each other and whether we know it or not, we are being pressured into living a certain way and buying certain things.

The easiest way to stop this (and it isn't actually that easy) is to stop thinking short-term and start thinking about the future. By having a long term financial goal that you are determined to reach, you will reduce the need to have the newest shoes or the fanciest car. If you are working towards something bigger it becomes much easier to forget about current fashion trends and instead think of the opportunity cost to your dream of making that impulse, pressured purchase. 
If you do ever feel pressured to purchase something, give yourself time. Leave it a week before you buy it and hopefully you will realise that it isn't essential. Never buy things because it is "just easier to buy it". Take some time to think. Do YOU really want this? Do YOU really need it? If the answer to any of these is no then should you really be buying it?

Comment down below about what you thought you needed but then decided against buying
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney 
#budget #debtfree #save #lamborghini #pressure #peerpressure #cars
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #12 Don't be peer pressured
    With the invention of social media, there is a bigger budget killer than ever before. Peer pressure. It may not take the form of someone directly telling you what you should buy but it is nonetheless still prevalent. We are constantly comparing ourselves to each other and whether we know it or not, we are being pressured into living a certain way and buying certain things.

    The easiest way to stop this (and it isn't actually that easy) is to stop thinking short-term and start thinking about the future. By having a long term financial goal that you are determined to reach, you will reduce the need to have the newest shoes or the fanciest car. If you are working towards something bigger it becomes much easier to forget about current fashion trends and instead think of the opportunity cost to your dream of making that impulse, pressured purchase.
    If you do ever feel pressured to purchase something, give yourself time. Leave it a week before you buy it and hopefully you will realise that it isn't essential. Never buy things because it is "just easier to buy it". Take some time to think. Do YOU really want this? Do YOU really need it? If the answer to any of these is no then should you really be buying it?

    Comment down below about what you thought you needed but then decided against buying
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney
    #budget #debtfree #save #lamborghini #pressure #peerpressure #cars

  •  5  0  7 September, 2019
  • #11 Look for coupons 
Now this is one that we have only recently started trying but the results have been good so far. The main idea is to do your regular shopping but use coupons that are issued by brands and companies to reduce the amount you pay.

There are a few different levels to couponing, it begins at a casual couponer and goes all the way up to the extreme. A casual couponer is likely to make a few savings here and there whereas an extreme couponer can save £100s if not £1000s per year.

How much you save is really down to how much time you invest. It is not easy to make the huge savings but it is fairly easy to cut a bit of money off your shopping every now and again. These small savings do add up in the long run.

So how do you go about couponing? Well there is no perfect way. A good place to start is supermarket websites and loyalty programmes. From there you can progress to offers in newspapers. There is a huge community of couponers that you could join who all knit together to help each other save. Even if this is not for you, it is worth keeping an eye out for coupons that you could use in your weekly shops.

Comment down below how much you have saved form couponing
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#personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #debtfree #coupons
  • @anyonecanbeam Profile picture

    @anyonecanbeam

    #11 Look for coupons
    Now this is one that we have only recently started trying but the results have been good so far. The main idea is to do your regular shopping but use coupons that are issued by brands and companies to reduce the amount you pay.

    There are a few different levels to couponing, it begins at a casual couponer and goes all the way up to the extreme. A casual couponer is likely to make a few savings here and there whereas an extreme couponer can save £100s if not £1000s per year.

    How much you save is really down to how much time you invest. It is not easy to make the huge savings but it is fairly easy to cut a bit of money off your shopping every now and again. These small savings do add up in the long run.

    So how do you go about couponing? Well there is no perfect way. A good place to start is supermarket websites and loyalty programmes. From there you can progress to offers in newspapers. There is a huge community of couponers that you could join who all knit together to help each other save. Even if this is not for you, it is worth keeping an eye out for coupons that you could use in your weekly shops.

    Comment down below how much you have saved form couponing
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    #personalfinance #savemoney #savings #financialgoals #setfinancialgoals #financetips #savingmoney #savingtips #money #moneyplan #talkaboutmoney #stepbystep #millionaire #financialdreams #finance #swapbrands #cheaperisbetter #moneysavvy #debtfreejourney #debtfree #coupons

  •  7  1  6 September, 2019

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