Savvy Saver Explains ‘Key to Saving’ Money As He Accumulates Extra £ 1,400 Per Year | Personal Finances | Finance
Amid the easing of coronavirus lockdown restrictions, spending money is something people will be doing more and more compared to the last few months. However, that doesn’t mean that there aren’t some ways people can leverage their hard-earned money.
Take one of the top deal hunters, who saved almost £ 1,500 a year on their bills by ‘just buying’.
James Latter, 34, says too many people get fooled by complicated language and extras they never need.
The savvy saver, from Walthamstow, east London, says that by following a few simple rules, he finds it easy to be consistent and save money.
So what does James, a video producer, suggest?
Doing research, avoiding unnecessary or unnecessary additions and deviant bundles are his best tips, he says.
“The key to saving so much is to keep it simple,” James exclusively told Express.co.uk.
“Anyone who uses language that I don’t understand, I avoid.
“Any deal that sounds too good, do your homework first. “
He adds, “Sometimes there are amazing deals out there, but you have to keep your mind as a consumer, especially when the jargon is used so much.
With his savings tips, James is saving £ 1,434 a year.
He shared a breakdown of how he is achieving these gigantic savings.
How James saves £ 1,434 a year
Auto insurance renewal
Regular Price: £ 405
What James Paid: £ 322
Saving: £ 83
Telephone contract (annual)
Regular Price: £ 456
What James Paid: £ 96
Saving: £ 360
TV package (annual)
Regular Price: £ 516
What James Paid: £ 275
Saving: £ 241
Compare prices and buy used items
Saving: £ 750
Rather than paying a price of £ 405 for renewing his car insurance, James disputed the renewal quote and saved £ 83.
He said, “I’m just going for the cheapest I can find and looking for breakdown cover separately.”
James started his business in Leeds eight years ago after graduating from Leeds University before returning to the capital.
The savvy saver was able to use the savings he made to buy new equipment for his business and finance his mother to go online by giving her a Plusnet broadband subscription and a Google Nexus tablet.
When it came to choosing his own smartphone, James considered what he would really use it for, rather than what he could use it for, he explains.
He opted for an LG V20 on a SIM Plusnet plan, which costs £ 8 per month for unlimited minutes and 10GB of data, saving him £ 360 per year compared to an equivalent plan, which costs 38 £ per month.
James had bought the unlocked handset three years ago for £ 274, meaning he could research the cheapest deal.
He explains that he has also avoided expensive TV packages – by choosing unlimited fiber broadband from Plusnet, which costs £ 22.99 per month to stream movies from Netflix, which costs him £ 5.99.
He says it saves him £ 168 per year compared to another provider’s plan.
Having recently moved, James needed to purchase furniture, including a mattress, sofa, and kitchen supplies.
But instead of rushing to buy all three at the same time, James used tracking sites like CamelCamelCamel.
This helps track the price history of items, revealing if they were previously cheaper.
If he can’t find a price that suits him, James searches for the second-hand item on eBay, Amazon Marketplace, and Gumtree.
Using this tactic, he managed to find a nearly new Kenwood microwave for £ 15 and a leather sofa for free.
“People get caught up in marketing, but it’s amazing how many things on Black Friday and Cyber Monday were a lot cheaper even a few weeks ago,” he says.
James estimates that he applies this principle to between 80 and 100 articles per year, saving him at least £ 750.
He said, “I really take the time to do my research and look at a lot of great deal sites online.
“There is a buzz that you are getting the best value.
“Being self-employed means my income can be a bit irregular, but these savings mean that if I have to replace a piece of equipment, I can do it regardless of where the money is coming from and I can do great things. for people who need it. that, including my mom.
James has shown that money-saving hacks can be effective, and the concept could apply to others as well.
New research from value communications provider Plusnet has found that the average household wastes £ 1,500 a year on confusing products or services they don’t want or need.
The survey found that the average UK household over the past 12 months has paid £ 299 on their mortgage scores, £ 222 too much on their fuel bills, threw £ 156 on broadband and wasted £ 132 in television packages.
Worryingly, they also spent £ 162 on car insurance and £ 84 on pet insurance that they didn’t realize they bought or didn’t understand, according to a survey of 1 500 British adults ordered by Plusnet.