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There are many costly expenditures that are unfortunately a necessary evil, but there are always ways to ensure you can save at least a little bit of money on items such as furniture and electronics, as well as your heating and water bills.

One of those, furniture, is a cost that always crops up from time to time. With several rooms in any home and the need to furnish pretty much all of them, there is a good chance that buying furniture is an annual grind on your finances.

There are, however, several ways in which you can save money when purchasing items of furniture for the home.

Buy quality products

When purchasing furniture for the home, you will usually want it to stand up to the test of time and the only way of achieving that is to purchase quality furniture such as solid oak. The better the quality, the longer it will last and the better it will look in your home.

Quality solid wood furniture does of course tend to cost more than your typical “wood effect” items, but in the long-term, it will pay off as it will last longer and therefore remove the need to keep on buying new pieces of furniture because they’ve worn out quickly.

For those pieces of furniture that tend to get tucked away from sight and only come out occasionally, they’re the ones that you don’t have to worry about emptying your wallet on.

Getting your DIY on

Some people have a healthy dose of experience in fixing things and tend to be a bit handy in woodwork or similar. If you’re one of these, then you have the ability of saving money on your furniture by mending those items that are looking a little worn out.

Given the right equipment, refinishing wooden furniture is very possible and doesn’t have to take that long either. This is a great way of sprucing up furniture that looks a bit tattered, but could easily be brought up to scratch with a fresh layer of stain or paint, maybe the upholstered sofa requires a bit of stitching. It really is a great alternative to buying new furniture when it can be repaired all the same.

Keep your eyes peeled and be patient

It is very likely that you’re struggling to find that perfect solid oak table for the right price after looking for what feels like forever. The trick is to be patient and just keep your eyes open for new deals and sales.

Christmas and New Year will often be perfect times to find the right kind of deal you’re after, therefore it can really pay off waiting a few weeks or months until that time and grab yourself a brilliant deal.

There are numerous examples of people adding to their home or changing rooms completely; it’s a great way to make your home better and saves the hassle of moving house just to get a new conservatory or a bigger kitchen.

The only problem with that is that it can be terribly expensive and rising costs can drain your bank account. Although there are no estate agent fees or solicitor intervention, you do have to worry about how it’s going to be built, the equipment that will be required and dealing with your local authority if you need planning permission.

There are ways, however, that would enable you to save money on such necessities.

Doing the work yourself (or as much as possible!)

Many people who plan to build on their own home are trained in the relative skills that will enable them to do most of the work. The costs of hiring labour can be vast and if they go over the proposed schedule, then you’ll have to pay out more money.

You might find that some businesses will purposely provide a longer schedule to make more money, so it can be worthwhile to shop around to see who can do the work in a decent amount of time and for a reasonable price if you can’t do the work yourself.

If you are able to do some work yourself, you may still need to outsource someone to do something like loler testing and inspection to make sure you can go ahead with your build and get your certification for safety.

Hire, don’t buy equipment

If you are able to take on the work yourself, you’ll obviously need to get the correct equipment, whether it be lifting equipment, handling equipment or drills and mortar. However, make sure that you hire and not buy, because you’ll only use this equipment once and so it’ll be fie to hire lifting equipment from someone like Lifting Gear UK.

The expense of owning such equipment is very high and remember you’ll have to keep in the best of shape so that means maintaining it and making sure it’s always working safely.

Complete the project all in one go

Cost often spiral when projects get dragged out further and further because your budget usually only applies to the planned schedule. The longer the project lasts, the more labour costs will be required and most likely equipment and material costs too.

Using the term “budgeting” can sometimes be off-putting because people think it’s a way to deprive them of something. Budgeting is actually a way to find out how much money you need for living expenses so that you can control how your pay is used and have something to set aside. Here are a few effective budgeting strategies you can use to meet your financial goals.

Tip #1: Record everything

You may list down your essential expenses like utility bills and insurance payments, but do you also record the smaller ones, like the little purchases at the convenience store or even your vending machine jaunts? Remember, these seemingly trivial expenses do add up, and they can mess up your budget. The trick is to keep all your receipts and write everything down, so that when you work on your budget, it’s accurate, down to the last cent, allowing you to better manage how your hard-earned income is spent.

Tip #2: Select your platform

If your finances are really simple, then maybe a pencil and paper are all you need to plan your expenses. However, if your budget is a bit more involved, you’d need a platform that can make things easier for you. For instance, you can use spreadsheets to map out your budget from scratch or download templates for something more specific.

You can also look for online personal finance services like ClearCheckbook and Money Strands or any other similar websites. Such services have useful budgeting features like generating a spending plan and chequebook balancing.

Tip #3: Spend less than you earn

All your efforts at budgeting would be ineffective if your expenses are larger than your income. What you need to do is spend less than what you earn. Take note that if you use up more than your income, you will accumulate debt. If your income and expenses are pretty much equal, you need to spend less or earn even more. If this is the case, go for spending less it’s much easier than getting a second job. Spending less than your income allows you to accumulate wealth.

Tip #4: Pay yourself first

Think of putting money in savings like a bill to be paid to yourself. Indicate the savings as part of your budget and withdraw it before spending your funds on bills, groceries or any other expenses. See to it that you deposit your savings budget immediately in a separate account so that you won’t mistakenly spend it. If possible, set up a way for your savings to be deducted automatically from your salary. You won’t even realise you’re accumulating wealth.

Tip #5: Reduce entertainment expenses

There’s probably an allotment for “entertainment” in your budget, which could cover expenses like watching a movie, going on dates or even buying video games. Play close attention to these costs because it might cause you to overspend. To reduce entertainment expenses, consider:

• Getting bundled packages for phone, television and internet service.
• Borrowing audio books, movies and even video games from public libraries.
• Visiting free art exhibits or movie festivals for dates.

Tip #6: Prepare your own meals

It’s more expensive to eat out than to prepare your own meals. Consider that having a meal for two people at a mid-priced restaurant would cost around AU$77 to AU$80. Groceries for two people, on the other hand, would cost around AU$150 to AU$200 per week. You can eat at inexpensive restaurant (i.e. fast food) to save on costs, but that’s not good for your health. To save money on food, learn to cook healthy meals. That way, you cut down dining out costs and possible doctor visits.

Tip #7: Overestimate when allotting funds

If you’ve been budgeting for a while, then you probably know that many expenses have variable costs due to fluctuating prices. To prepare your budget for this unpredictability, look over the last year’s worth of receipts/bills and pick the most expensive you ever paid as your guide until an increase is announced. Here’s another tip: When allotting your funds, make sure you don’t use the exact figure. Instead, round off to the higher number, so that you won’t be short on funds.

The tools of budgeting all come down to a basic process of keeping track of income and expenses in one location. This makes it possible to target areas of over-spending and arrange a projected budget that is both realistic and oriented towards saving. Just as the old days of using a hand-held calculator and accounting pad gave way to computerized spreadsheets and stand-alone programs, newer methods have been supplanted in recent years by internet-based programs.

Tweaking categories and establishing limits is still an individualized matter, but it is no longer necessary to transfer the numbers from each account into a centralized system. Online money management tools are capable of accessing accounts for which they are given your login information, but this feature is not a given due partly to security reasons.

Many programs are available, and choosing the best depends upon which you find most compatible with your financial needs. Since all these programs are free, advertising should not be a surprise. Some of the most popular tools for financial planning are:

Mint

Mint is the most versatile and user-friendly of the options available. Login information is easily entered for a fast and comprehensive accounting of everything from monthly spending patterns to total net worth. One of the more valuable features is its ability to gather as much information as is stored in the account. Investment accounts entered into the system will be tracked on a weekly basis.

The downside for some users will be the automated budgeting. Preset totals are attached to every category, and it will take some time to configure these for your individual needs. Until you do, expect to face reminders and overspending warnings regularly. Initial setup can take around an hour, and it will take more time to get the program matched up with your financial life.

Wesabe

This program offers some of the same features as Mint, such as the ability to pull data from multiple accounts and automatically compile net worth, liquid assets and debt. If you have been using Quicken, this is a good choice for now. Mint does not yet support importing from Quicken, but Wesabe does support this option. One feature Wesabe does boast is an active user forum.

Importing from Quicken is the only way to get around the need to manually categorize types of spending, which is one drawback. Another downside is that Wesabe does not function with some accounts, which means you are stuck without information or having to manually enter it.

Manual Upload

Many free programs are available for monitoring your finances on the go, and most of them require manual upload of information. Before thinking this is more trouble than it’s worth, consider some of the advantages of sites like BudgetPulse, moneyStrands, and Buddi.

Since there is no account information entered, there is no risk of your accounts being compromised by hacking of these third-party sites. They are also more functional due to simplicity. Manual uploading may seem like time travel to the past after experiencing Mint, but these alternatives often include community, small business, and other group tools.

It is worth the time to find a program that best fits your financial situation and personality. Budgeting is the first step to overcoming debt and planning for the future. The only thing you’ll lose from a poor choice is time.

The Budget is rarely an occasion for celebration, and Chancellor George Osborne’s announcement that plans to increase fuel duties by 3p per litre would not be dropped has been met with negative reception from many British motorists, who feel they are already being charged too much for fuel.

These new fuel duties will go into effect from August 2012, and a number of motoring groups have voiced their criticism of the initiative, which will cause cash-strapped motorists to be even more out of pocket. With the price of unleaded petrol rising above £1.40 in many parts of the UK, motorists will be paying more than ever before at the petrol pump.

Osborne has defended his decision by pointing to his previous scrapping of the fuel tax escalator in the March 2011 budget, which he explained would have made fuel 6p more expensive at present, if still in effect. This has reportedly saved motorists a total of £4.5 billion according to the Guardian newspaper, but many people feel more could have been done to combat the rising cost of motor fuel.

It’s not only fuel prices that were affected by the recent budget either, with the CO2 emissions threshold for company cars also being reduced from 160g per km to 130g from April 2013, which will penalise employees driving less fuel-efficient vehicles and medium-sized cars in general. However, diesel drivers may benefit from the change, with the dropping of the 3% diesel tax supplement from 2016.

If you’re concerned about the impact of the Budget on your day-to-day driving, switching to a more fuel efficient vehicle could be the most effective way to shield yourself from rising fuel prices, although this is not an economical option for everyone. Finding out how your driving habits could be consuming more fuel than necessary can also be very useful for helping a full tank last longer, such as avoiding stop-start driving or taking alternative routes to avoid traffic congestion.

Now is the ideal time to make these changes to your driving habits, with fuel price increases showing no signs of slowing down. Over the last two years, the monthly fuel bill for a family with two petrol cars has reportedly risen over the last year, and unleaded petrol is expected to have hit £1.50 by the time the new fuel duties are in effect in August. Comparing car insurance to find the best deals and buying used parts for repairs could help you save money in other aspects of car ownership.