Saving money is especially difficult as the cost of living rises, and it can often be difficult to discipline oneself to not spend. However, all is not lost when it comes to taking action, and not all progress has to come from tightening one’s belt. The financial comparison website Lending Expert has looked into ways a person will be able to boost their bank balance.
This can be done between now and the New Year, meaning some Britons will even see changes in their back pocket by Christmas.
The first course of action is looking into making a switch when it comes to a bank account – which can end up as fairly lucrative.
Aside from another bank potentially having better benefits or perks, some providers are currently offering switching incentives to Britons.
Santander is offering £130 cash back to switch, while NatWest is among one of the banks offering £100 to make the change.
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Some of these are free and can give Britons a helping hand when it comes to tracking their income and expenditure to leave more in their pocket each month.
And in a similar sense, when it comes to money management, a credit card could be an appropriate course of action for many.
Some of these offer cashback options which could be key for those hitting the shops for Christmas presents and food, while others offer points for shopping in certain stores.
However, it is always important to pay a credit card off in full to avoid spiralling debt.
Finally, the Christmas season may also be a good excuse to make a dent in cleaning around the house.
This could unearth a myriad of items such as clothes, furniture and tech that a person no longer has any use for.
Once identified, these items can be sold on websites such as eBay, Gumtree or Facebook Marketplace.
According to the advice, people could easily pocket £50 to £100 or even more, simply for just a few hours of their time in making an inventory of old possessions.
David Beard, CEO at LendingExpert.co.uk, said: “The recent rise in costs of food, gas, childcare, fuel and rail fares means many families are wondering where the money for Christmas will come from, with many plunging themselves in unmanageable levels of debt to afford the additional cost of Christmas.
“With a bit of effort, there are ways to earn extra cash in the run-up to the expensive season.
“It’s important not to overstretch yourself this year in the name of Santa. Remember things like National Insurance and Council Tax will be going up next year too.
“You need to be budgeting for an expensive year ahead so think twice before splurging.”