Tight as a ducks bottom under water? (Saving tips)

Member Name: nikkisly

Product:	Saving tips
Date:	24/11/01 (613 review reads)
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I have recently been on holiday to a very posh Health Farm. It was lovely, although, between you and me, it cost an arm and a leg and most of a torso too. Actually, though, it didn't cost me anything in real terms since I managed to pay for it all using my "tin can plan". I also have enough left over to do all my Christmas shopping (including groceries) and it didn't hurt a bit.

The idea is simplicity itself. I invested in several cheap tin-can money banks and placed them all around the house. Then I set about filling them.

1. As they say in films, the most important thing is location, location, location! I put a bank wherever I might expect to find loose change. There is one by my washing machine for the odd few coppers I find when I'm checking pockets before doing each load. There is one in the bedroom to catch any change that falls out of pockets when undressing - another in the bathroom for the same reason. As soon as each tin is full, the money is counted, bagged and paid into an instant access building society account thus earning me interest.

2. Last year, in a separate tin, I saved every single £2 coin that came into our household. Often this meant prising them out of Mr nikkisly's grasp, or even pilfering them when he was asleep. (Apparently, £2 coins are in very short supply since so many people are saving them in this way.) I received them so infrequently in change that I didn't really miss them when they had gone into the 'bank', but over the weeks they mounted up, making a total sum of £600 over 12 months.

3. I also made great use of Boots online. Everybody needs basics like shampoo, soap, toothpaste and deodorant and by checking the Boots website once a week, I was able to take advantage of their three for two offers as and when they arose. Normally with Boots, you are offered a choice of delivery times and dates, at least one of which is free. Plus on-line purchases qualify f
or Advantage points that can be used against purchases of selected items in the shops. The trick is to put the amount saved straight into your tin bank.

4. Last year I bought all my Christmas cards, wrapping paper and decorations in the January sales at 60% off their pre-Christmas prices. These are then stowed away in the attic with the Christmas decorations and naturally the money saved is stowed away too.

5. I also buy quite a few Christmas presents in the January sales too, although there is a cautionary tale to be told. A few years ago, I managed to forget where I'd hidden them so had to brave the chaos of the pre-Christmas rush and spend even more money. This doesn't work if you're the sort of person who likes to buy (and eat) a lot of chocolate and have absolutely no willpower whatsoever.

6. I changed my mobile 'phone. I'm not a big mobile 'phone user, but since I do a lot of driving alone in the early mornings in all sorts of weather, I feel it is necessary to have one for emergencies. Previously I had been with Orange and paid an annual fee which entitled me to 60 minutes of free calls each month. However I found that I was rarely using my free minutes, so switched to a pay as you go tariff. My new 'phone cost me £39.99 from Woolworth's and, so far this year, has cost me £20 in 'phone vouchers, representing a saving of almost £50. Or £1 a week for the tin can banks.

7. I became an avid car-booter without even leaving my home. Having wandered round a few boot sales and talked to a few of the stallholders who were there week after week, I offered them my goods to sell. I now have a network of sellers who will buy my second hand books or surplus plants whenever I have them. One 'phone call and they come to the house, we agree a price and they take anything I have to offer. Far less labour intensive than standing about in a field with your legs crossed for lack of a toilet every week a
nd it guarantees that you will sell everything rather than having to bring most of it back home again.

8. Rather than automatically renewing insurance policies on demand, I spent a few afternoons on the telephone with a copy of Yellow Pages close to hand. Most insurance firms are keen to attract new business and most have free phone numbers for customers to obtain quotes. Taking into account my car (and Mr nikkisly's car), buildings and contents insurance, I estimate that I saved almost £400 last year just by switching insurance companies. Another tip - when making business calls of any kind, telephone when the business is closed and leave an answerphone message for them to return (and pay for) the call.

9. I paid cash for everything I bought, large or small and I'm prepared to haggle. You may not have the means to offer to pay for large purchases with 'pound notes' (neither do I) but start small - an offer of a discount is often forthcoming if you're prepared to pay cash. (It makes sense for the retailer who wants your custom but often has to pay a premium if you pay by credit card.) Last year, I successfully negotiated a £3000 discount on my fathers' new car, a £2000 reduction on some building work - even £5 off a pair of jeans. Unfortunately I have too many scruples for this to be totally successful. I have a friend who haggles everywhere, even at his local supermarket when doing the weekly household shopping and almost invariably gets a discount.

10. Finally, I kept a close eye on my savings. While I'm not fortunate enough to have vast amounts of cash lying around, I do have a little "rainy day" money, which I was shocked to discover, was earning me the grand amount of 0.3% interest. By switching my savings to a different account, I was able to receive 5.25% interest with the minimum of effort. It really is worth shifting your savings around to maximise their potential earnings and is actually fa
r less hassle than it sounds.

I might be tight. I might be penny pinching. But I've also just counted the contents of my tin can banks for the purpose of this opinion and, since the beginning of October, have accrued £150 in loose change alone. Worth considering?

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