What is your favourite money and finance tip or little-known fact?

What is your favourite money and finance tip or little-known fact?

Do you have some nugget of advice that has changed the way you think about and manage your finances? Is there something you think everyone should know about?

Share your ideas here!

I think my tip is that anyone aged between 18 and 39 can open a Lifetime ISA (LISA) account, which allows you to save up to £4,000 a year in it, towards a first home or retirement. The government then and adds a cash bonus of up to £1,000 a year on top. For me, this means that I can get a lot of the money I pay in income tax/NI right back from the government!

https://www.moneysavingexpert.com/savings/lifetime-isas/

(edited 1 year ago)

Reply 1

tinyperson

18

I have a whole list. When going to buy some new clothes, always look at the size tag. If you are eating out, do check the prices carefully in order to see what is fairly cheap and what is pricey and also pay very close and careful attention to the reviews that are left by previous customers. Research the entire restaurant in question properly to find out more.

You can even save money by limiting the number of drinks.

Reply 2

CatusStarbright

OP

22

Original post by tinyperson

I have a whole list. When going to buy some new clothes, always look at the size tag. If you are eating out, do check the prices carefully in order to see what is fairly cheap and what is pricey and also pay very close and careful attention to the reviews that are left by previous customers. Research the entire restaurant in question properly to find out more.

You can even save money by limiting the number of drinks.

Good tips, thanks for sharing!

Reply 3

jenny07

15

Although it is important to save as much as you can for your future, don't forget to live.

As morbid as it sounds, we never know when life will end and so it's good to enjoy such spendings here and there. For example, if there's a restaurant you've always wanted to try or a place you always wanted to go. As with many things, moderation is key. Save here and there, spend here and there. Try and be sensible about it and if you're on the fence about purchasing something, it most likely means you shouldn't buy it.

Reply 4

tinyperson

18

this

Original post by jenny07

Although it is important to save as much as you can for your future, don't forget to live.

As morbid as it sounds, we never know when life will end and so it's good to enjoy such spendings here and there. For example, if there's a restaurant you've always wanted to try or a place you always wanted to go. As with many things, moderation is key. Save here and there, spend here and there. Try and be sensible about it and if you're on the fence about purchasing something, it most likely means you shouldn't buy it.

Reply 5

CatusStarbright

OP

22

Original post by jenny07

Although it is important to save as much as you can for your future, don't forget to live.

As morbid as it sounds, we never know when life will end and so it's good to enjoy such spendings here and there. For example, if there's a restaurant you've always wanted to try or a place you always wanted to go. As with many things, moderation is key. Save here and there, spend here and there. Try and be sensible about it and if you're on the fence about purchasing something, it most likely means you shouldn't buy it.

This is something I am trying to work on. What's helping is that fact that mortgage amounts depend on how much you earn so I have realised that I won't be able to afford to buy somewhere until I earn more - meaning there's less rush to save for a deposit!