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Overdrafts and skipping meals – payday pain tactics revealed

Do you find you’re dragging yourself towards payday by the skin of your teeth? If so, you’re not alone.

In fact, nearly one in four workers (23%) end up in their overdraft every month.  A quarter (24%) dip into their savings and more than one in ten (13%) skip meals in the runup to payday, according to a survey by Post Office Money.

With 25% of respondents admitting they have no formal way of keeping track of their finances, now could be the time to act and build up a buffer.  If you want to start fresh next payday, here are some top tips to help.

Payday pain – could you cut back?

If you are looking to save money, think about where you could cut back.

Spending on food is one of the most common areas where you can curb spending, with 40% hunting for reduced goods at the supermarket and 39% taking lunch to work, the survey says.

Thinking of different ways to socialise can also help. Now the weather is heating up, why not invite your friends over for a barbecue instead of going out for dinner (especially as it’s National Barbecue Week!)

Make sure you take a look at your bank statements as well. You may find some subscriptions you no longer use enough to justify the cost or more debits than you expect to see. Find out the cost of your subscriptions.


Swapping and switching

Being better with money doesn’t mean you have to start cutting back on everything you enjoy either. Small changes can make a big difference and swapping or switching can also be useful.

For example, are you on the best energy plan you could be on? Switching energy plans could save you more than £200 a year.

Switching where you shop could also make a difference. Charity shops can often throw up some good bargains, rather than using expensive brands.  Swapping around between supermarkets can often prove fruitful too.


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  • Natalie / 15 June 2015

    I find this newsletters massive help as I run a house in my wage alone and find the tips useful

  • mr bernard johnson / 14 June 2015

    very useful,wise advice given