- 31 Aug 2020
- Reading time
- 7 minutes
Who would be negative towards new, much more economical choices for their monthly budget in London and other big cities? No one can deny feeling disappointed for being obliged to spend a fortune for simply wanting to maintain a life in a big city either as students or as hard-working professionals. It is high time for anyone who wishes to acquire a money-saving routine to reconsider their existing habits and try to take the next step forward while looking into more modern, high-end and money saving solutions. While it might concern reducing costs towards energy providers (such as British Gas, for instance), home insurance or for themselves and their vehicles (such as through Go Compare), saving money at food through better handling and management and last but not least save money through setting up a savings bank account, all these are viable options towards start spending less while living in a big city.
Nowadays, as we are moving into the 21st century, it is essential that we make a turn into more ecological and alternative ways of using domestic appliances that generate energy. More and more people are now using solar energy to cover their house’s power needs. Especially, solar water heating is becoming a new trend that proves to be extremely effective for consumers and customers (as customer experience reviews such as the ones found at BritainReviews show). Solar water heating is based on the use of solar energy which aims to reduce our domestic carbon footprint. It is true that solar energy derives from solar panels, the most common device being used for this purpose.
However, another form of these panels has already made its appearance for domestic reasons, namely solar thermal panels. These panels are responsible for converting the energy of the sun for water heating processes. As stated by Greenmatch, a family of four can reduce its annual water-heating bills by £55 to £80 whereas the already applied means of water heating would be even more costly. According to the same source, the benefits of introducing to our households this renewable water heating process are the following:
• An apparent reduction and money-saving in annual bills
• More energy-saving in the long term
• More durable and with lower maintenance costs
All the above point take these panels to the top of our potential choices for money and energy-saving methods.
While looking into more money-saving solutions for households and housekeepers who have decided to settle in London as well as in other big cities, home and car insurance can be also a real headache but there are certain options that could provide anyone with a money-saving insurance schedule. So, if you are interested in discovering the hidden flaws of getting a reasonable insurance yearly plan then you should consider the following. As mentioned in confused.com, the useful tricks of keeping prices down are related to how you will schedule your payment. If the entire amount is paid at once, then costs will be lower. Your mileage accuracy and your black box technology will help you run a tailored insurance plan. When applying for insurance, it is inevitable that the more you buy the better it is for the insurance company. However, think twice and do not opt for more than you need. Measure your needs and decide accordingly so that you will end up with the desirable final total amount which will save you time and money. Another trick that may have slipped your attention is targeted reduction in yearly costs as far as your insurance plans are concerned. This refers to your ability in switching insurance providers as long as you have made strategic research on how to avoid the ones that require always more from you. Other ways, or tricks as already mentioned above, include matching your needs to what you can afford and making solid research through Customer Reviews in 2020 to find the best offer.
Moving further to what can be a money saver for our city living, cheap and healthy food can prove to be one of the most profitable ways to achieve it. In London, paying £10 a head or less is supposed to be a real good deal moneywise. But does this mean that we should cut down on quality, too? Of course, we should not be considered less expensive solutions that would diminish our health and our energy. Either as students or as working professionals, you will find more than 100 suggestions of eating out without spending too much in TimeOut. Many places can appeal to your appetite as well as your budgetary needs. On the other hand, if you are considering eating more healthy while focusing on your budgeting plan, you should then consider cooking at home which will reduce not only your daily expenses but also will act as a stress reliever and will reenact your imagination. According to customer reviews, home cooking options are unexpectedly profitable ways for people to spend time as a family, find new ways to enjoy some quality time and of course save at least 30 per cent extra money for food and cooking costs. Finally, another way to save money in big cities is through proper waste management and through the use of efficient compost bins such as the ones you can find on Evergreen.
After all, coronavirus has by all means succeeded in reconsidering what we spend our money on and of course, this crisis has triggered this massive feeling of going back to a more natural, simple and stress-free way of leading our lives. There are many more options to reconsider if someone is determined to save and increase his life quality along with his income. However, a step at a time will make this journey much easier and much more stable with long-lasting effects for you and the rest of the people around you. Undoubtfully, your start will become a great inspiration for your family, friends, colleagues or even your neighbours who will most probably try to follow your options.
If you want to become better at understanding finances but you don’t know where to start, at least know that nowadays there is a wealth of information on the subject and getting started is not difficult. Libraries, bookstores and websites can provide you with most of the information you need on every financial topic you can imagine. Anyone who is interested and willing to put in the time can get access to all the needed resources. Here are some tips so you don’t get lost in the process:
Take a finance course
Look for courses from universities and other academic institutions that can guide you in your learning journey. You can also have a quick read at books such as The Richest Man in Babylon or the well-known "... for Dummies" series which can provide you with insight into the basics of finance so that you can then identify specific items that you would like to learn more about.
Internet is your friend
For any questions, there’s no better place to go to for fast, easy access to information than the web. You can look for finance information at Investopedia and similar sites that provide access to infinite amounts of information and will also keep you updated on the latest financial developments. You will also be able to find economists, strategists and other experts that can be interesting and informative to you.
Get deeper into the subjects
Once you’ve covered the basics of finance it’s important to immerse yourself in more complex financial subjects. There are great publications and magazines that can truly help you gain more in-depth knowledge than you will usually get surfing the web or taking on a course. The more you are able to deal with complexity, the easier also the basic finance matters will be to deal with.
Get familiar with the language
There is really not one formula to do this, the best advice is to just take initiative and immerse yourself into the subject while taking the time to search for the meaning of unknown terms when you come across them. Taking on a course can also help you a lot in getting familiar with the finance lingo. Some of the main concepts you will learn about will be: how to measure profitability, EBITDA, operating income, revenue and operating expenses.
Don’t avoid finance just because you don’t feel you’re good at math or you find it boring. It’s not as complex as it seems at first and it is truly necessary to keep score on your business and measure your progress. Most finance operations are mathematically not that complex.
Either because you feel you are ready to take on your finances on your own or you feel you may need some advice and assistance, check out these finance companies that may help you engage in and improve your finances.