Spellman Financial Services

Better budgeting

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better budgeting

We all do it

We are all guilty of spending cash on things we don’t need.

Even the most frugal of spenders could look at their budget and find ways to cut back on non-essential items and increase their savings pot.

If money is tight or you are just trying to save more here are some money saving tips.

Avoid the impulse

Before buying anything, especially those items that are more expensive like electronics and gadgets ask yourself:

  • Do I need it?
  • Can I afford it?
  • Will I use it?
  • Have I checked if it is cheaper elsewhere?

If you have answered no to any of these then don’t buy it.

Google it

Google is your friend when shopping. Especially if you know what you are buying.

You may be able to find what you are looking for cheaper online or for the same price with cheaper or free postage. And always look out for online deals or use money apps like Honey which automatically search for and apply discount codes to your basket.

You may be able to purchase items substantially cheaper if you buy it second hand on sites like Amazon Marketplace or eBay.

Do you need to upgrade?

You may have an iPhone XR or a Samsung Galaxy S10 in your pocket and you may be coming to the end of your mobile phone contract.

You may be thinking it doesn’t cost a lot to upgrade but, to upgrade your iPhone to an iPhone 11 Pro could cost you from £799 and to upgrade your Galaxy S6 to an S20 Ultra will cost you from £1199.

But do you really need that phone upgrade. You may not have noticed the cost of your current phone as it is bundled in the monthly charge with your calls, texts and data costs.

And once it is paid off that is extra money available to you every month to save, or to pay a little extra towards another bill, such as a credit card.

Work it out

Nearly a quarter of Britons have a gym member on 12% use it regularly. And with the average gym membership being £35 per month that £420 a year being wasted.

If you are not using your gym membership cancel it as soon as possible and become more tech savvy about your fitness.

You will find a YouTube channel on almost every kind of workout from dance to yoga.

Alternatively, you could download some free apps like 7 minute workout or the Zombies, Run – the immersive running game.

Watch what you're watching

If you have multiple TV and streaming subscriptions cut down to the ones you really watch.

Do you really need Netflix, Amazon Video, Britbox, Apple Tv and Google Play?

If you still want to keep terrestrial channels such as the BBC move from satellite and cable subscriptions to Freeview or Freesat.

What else?

Avoid eating out or ordering in cooking at home can be much cheaper

Cut your utility bills. See if you can get a cheaper deal by switching supplier. If you are on the cheapest deal try using less by turning down the thermostat, switching off lights and washing up in a bowl instead of under a running tap.

Get rewarded when you do spend. Sign up to loyalty schemes for the retailers you use most often.


Why use ourselves?

We are rated 5 stars by our customers on Google, Vouched For & Facebook.

We can provide face to face advice to customers in Coventry & Warwickshire. Or a telephony service if you prefer, for Local or National Customers.

Luke Spellman, the Mortgage Broker you will speak to, has over 10 years experience in Financial Services. 5 of which has been spent working directly with Mortgages.

So for simply more information and for a non-obligatory free chat. Please contact us below.


Get in touch

If you would like any individual advice or further information on any of the above or alternative Mortgage or Insurance Advice.

Please do get in touch and contact us on the below details, to see how we can save you money on your Mortgage.

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Address & Telephone

102 Stoney Road, Coventry, West Midlands, CV3 6HY
Telephone: 07739387944

Opening Hours

Monday-Friday: 08:00 – 20:00
Saturday: 08:00 – 14:00
Sunday: By appointment
Other times: can be arranged by appointment

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