Look after the pennies and the pounds will look after themselves
There are many sayings in the financial industry and one which is sometimes ridiculed is "look after the pennies and the pounds will look after themselves". However, if you take a step back and review this particular saying you may well begin to understand exactly where it comes from!
While the vast majority of us will at some time look to save money on our monthly budgets and household expenditure, the chances are we will look to save too much too soon and lose focus. The truth is that while there may be the chance to trim your car insurance by a couple of hundred pounds, remortgage your home and other similar potential cost saving exercises, it is really the small savings which are be more visible if you open your eyes.
If you can save £10 a week on your telephone that will add up to £500 year, if you can reduce your sky package by say £20 a month then you will save upwards of £200 a year and so on and so on. It is the small long-term savings which will inevitably take some of the financial pressure off those in the UK who have been struggling for some time. Aim low and work higher, do not aim high and then move lower!
Share this..
Related stories
Sainsbury's set to take advantage of the downturn
Sainsbury's has today released plans for a significant expansion of the company's operations which will see store space increased by 15% before March 2011. In a bold move the Sainsbury's management have decided to use problems for some of their competitors to grab a larger share of the UK grocery market. Today's announcement was followed by a £432 million fund-raising exercise which will be compl...
Read MoreThe FTSE 100 rally moves into sixth day
The FTSE 100 index today closed up 59.28 points at this 4638.92 which is a sixth consecutive day of gains. While many observers are puzzled as to why the index has started 2009 so positively it may well have something to do with the recent rally on Wall Street, which came to an end at the close of play today.
The UK stock market is awaiting news of the MPC ruling on UK base rates wi...
UK banks still short of capital
In a disappointing move for the UK banking sector and the UK government, the Bank of England still believes that many UK banks are still short of capital adequacy. This is despite the fact that billions upon billions of pounds of taxpayer's money has been poured into the sector, with little return as yet. So what exactly is going on?
While it would be wrong to suggest that the UK ba...
Private care home capacity falling in the UK
The Local Government Association (LGA) has revealed a stark reduction in the number of private nursing home places available in the UK. The ongoing recession would appear to have hit private nursing homes hard as more and more of the UK population struggle to find the funds required to pay for the service. A survey by the LGA has highlighted the fact that 15% of local authorities in the UK are alr...
Read MoreUK gilt sale fails for first time since 1995
The Debt Management Office (DMO) which is in charge of managing UK government debt has today confirmed the failure of the sale of £1.75 billion worth of gilts set to mature in 2049. This is the first time that a sale of gilts has not been fully covered in the market with bids received for just £1.63 billion worth of stock on offer. This is a marked change from recent auctions which have on avera...
Read More