The UK's top wealth coach, Nicola Cairncross, has compiled the following top 10 tips for saving money - just in time for the New Year. You can read Nicola's blog at www.wealthcoach.typepad.com.
1. Cut out one cappuccino a day - £1.85 a day saved (and then invested) gives you a 100% chance of becoming a millionaire in your lifetime.
2. Change your mobile message - ask people to email or Skype you instead (still got your mobile for emergencies but you can then call them back on Skype for free).
3. Instead of giving the kids pocket money, pay them interest on their savings instead (teaches them good habits too).
4. If you take more than one trip abroad per year, buy your travel insurance annually, saves ££££££££.
5. Shop online - you can stick to a budget much more easily and check if you need those extra tins of canellini beans!
6. Visit www.moneysupermarket.com to find out which are the best 0% credit card deals, then move your debts.
7. Buy your books from www.Amazon.com - books are much cheaper in the USA than here.
8. If you use any stores online regularly, check at www.cj.com or www.affiliatewindow.com to see if you can join the store's affiliate scheme and earn commission when you buy.
9. Open a SIPP (self administered pension fund) now, as from next April you will be able to put all sorts of things into your pension fund - residential property, wine, art - and any gain is tax free.
10. Think about how to make MORE money rather than cutting back - start a part time business, do some babysitting or take in ironing. Find a way to make money from a hobby or interest and have fun doing it.
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