Saving a little bit of money a month is a sure-fire way to protect yourself from a large, unexpected bill. For example, a routine opticians appointment can prove costly, if it is discovered you need new glasses.
Suddenly, the cost of a scheduled appointment and test, has increased significantly to cover the price of lenses, frames, fitting and further, more regular visits. It’s reported that 71% of people experience unexpected costs such as this, car repairs, household appliance breakdowns and vet bills, and with the average cost of an optician’s bill weighing in at £195, that can put an unwelcome strain on a household’s finances.
To avoid nasty shocks, it is important that you plan ahead and be prepared. Saving just £3 a day will help you cope with an unexpected bill, and that £3 can be achieved by cutting back on everyday items you really could do without. If you can’t manage £3 a day, put aside whatever you can.
Magazines or newspapers, a takeaway coffee or evening beer, snacks, scratch cards, maybe a bus trip you don’t need to make. Skipping just one can make a significant difference.
Data is from research by Money Advice Service. For more help with calculating how you can make savings, consult www.moneyadviceservice.org.uk