10 ways to beat Spring Budget like your own Chancellor – including £200 free money

THIS week’s Spring Budget includes a raft of measures to help hardworking families save money – but you can do even better than the Chancellor.

No matter how tight your finances are, our top ten budget tips will help you cut back on spending, boost your savings and beat the banks.

3

Get started today and watch your hard work stack up.

1. Confront your money

3

Having money worries is scary, but you can’t make things better until you know what you owe.

Make a list of all your debts, including overdrafts, loans, credit cards, store cards and outstanding bills, and then review all your bank accounts so you know how much money you have.

2. Create your own budget

A budget is simply balancing money in and money out.

To get started on yours, use the template on the Government-backed MoneyHelper website.

3. Tackle your debts

It is usually due before you start saving.

There are two ways to do this.

Or you pay off the smallest debt first, so that you can see that you are making it
progress.

Or take over the debts with the highest interest as a priority, so that you reduce the total amount you have to pay off.

4. Reduce your costs

By reducing what you spend every day, you can pay off your debts or build savings faster.

If you switch to a discount store like Lidl, you can get up to a third off your weekly shop.

Also see if you can reduce your telephone, insurance or utility bills.

Compare rates on useful online platforms such as moneysupermarket.com.

5. Check your benefits

Make sure you claim what you are owed.

Check the website for current information about what you are entitled to benefits calculator on the Turn2Us website.

6. Create an emergency fund

Doing this can help you pay for unexpected expenses, like the water heater breaking down, without having to borrow an expensive credit card or set up fees.

Set aside a small amount each month until you have a reasonable amount
cash reserve.

7. Switch bank accounts

Banks offer you a maximum of €200 if you transfer your current account to them.

Compare offers at Money saving expert.

8. Start micro-saving

Even if you can only save a few dollars a month, it will add up over time.

Use a budget app that automatically sets aside money when you spend money, like Plum, or set your online banking app to automatically save money for you.

9. Exchange your savings

If you are lucky enough to have existing savings, see if you can get a better interest rate.

Usage Guide from MoneySavingExpert to compare them.

10. Start a side job

3

Register with Indeedflex.nl for temporary work that is paid the same day.

You can also clear out old clothes and sell them on Vinted or take the paid online surveys at panel.onepoll.com.

Find more great ideas on The Sun’s side hustle page.