Top 10 money saving tips for 2011

After health and fitness, financial matters often place high in the list of things people desire to change in the New Year. But you don't have to put all your eggs in one basket or wait for that promotion when you make a number of small changes to your spending and saving habits that could have a big impact on your financial security.



If you're not used to budgeting, January is as good a time as any to start. Setting limits on everything from your weekly grocery shop to luxury purchases made online could soon reduce your unnecessary spending and ensure you're only buying what you truly need and desire, avoiding those spur-of-the-moment purchases that can be a source of regret later. The places you spend your money could also be adding to the price you pay, so it's always worth checking out alternative stores - both on the high street and online, where price comparison websites will do much of the work for you.



Looking after the pennies doesn't mean denying yourself your favourite things, but rather finding out how to enjoy life's luxuries for less. Something as simple as preparing a breakfast and taking your lunch to work could lead to significant savings as the days, weeks and months go by, and you'll also be better able to ensure that you're getting all the nutrition you need - instead of having to rely on what's available in the canteen or newsagent during lunch hour.

The cost of petrol and public transport soon adds up too, so you should consider whether you truly need to drive or take the bus to work and other destinations in your local area. If you live close enough to walk, this could be a great option for your physical wellbeing as well as your wallet, and the same can be said for cycling.



You can still make the most of holidays with a saver mentality, and you won't have to swap destinations abroad for beach holidays in the UK when you check out the best deals ahead of time. Everything from accommodation bookings to searching for advance train tickets and flights could mean you enjoy a dream holiday at a fraction of the price you'd usually spend, just for using a little foresight and planning your trip ahead of time.



Finally, if you have savings, you could grow your nest egg at a much faster rate when switching to a higher interest savings account.