Money saving tips from ASDA! Information on insurance and savings
Money Saving Tips from ASDA!
As one reader family recovers from Christmas, we suggest ways of trimming their household bills.
Many families find their finances stretched to the limit in December. Charlene Anderson, 33, a part-time hotel receptionist, and her husband, Ian, 34, who works for an engineering firm, are no exception. But the couple, who live in Kirkaldy, Fife, with their 14-month-old son, Connor, want to make a fresh start with a financial plan that looks after the whole family.
They’ve already taken action by setting up a joint life insurance and critical illness policy through Asda Life Insurance. ‘We thought this was important when Connor came along,’ says Charlene. ‘The policy covers the mortgage, plus a bit extra, and there’s also an allowance for Connor if he were to become seriously ill. ‘Our credit cards get used heavily in December, so come January, it’s time to start saving hard. We want to move from our flat to a house with a garden, so we need to start putting some money aside for a deposit.’ Charlene is tackling her debts with a 0% interest credit card, and also has a savings strategy: ‘I’ll top up Connor’s Child Trust Fund and put a little aside in my own cash ISA each month.’
Home help
• According to Energywatch, the average household now spends around £900 on gas and electricity each year. Turning the heating down by just one degree could save the Andersons £40 a year. The optimum temperature for comfort is 19-20°C.
• Washing clothes at 30°C gets them just as clean as washing them at 40°C, and Charlene will get four loads done at this temperature for the price of one at the hottest setting! She could also try Ariel Excel Gel, which gives brilliant cleaning from as low as 15°C. Cold is the new hot!
• Have your boiler serviced regularly. And consider installing an energy-efficient condensing boiler – it could save up to £200 a year.
• Draw curtains at night and use draught excluders to stop heat escaping under windowsills and doors. Wooden floors look lovely, but they aren’t energy efficient, so use thick rugs to help keep heat in.
WHAT OUR MONEY EXPERT RECOMMENDS
1. Compare deals for car insurance and home insurance. Asda has a panel of insurers that searches the market for you, and will do the same when the policy is up for renewal.
2. Start saving for next Christmas now! Asda’s Christmas savings card helps you put a bit away weekly and adds a bonus in November if you have at least £49 on your card.
3. Help your children save. Children born on and after 1 September 2002 receive a £250 voucher (£500 for those in less well-off families) to be invested in a Child Trust Fund account. You can top it up by as much as £1,200 a year until they’re 18. Asda’s Child Trust Fund [http://www.asdafinance.com/savings/child-trust-fund/], provided by The Children’s Mutual, lets you top up online by debit card, or set up a regular direct debit.
4. Protect your family’s finances. Life insurance costs more as you age, and premiums rise with ill health, so act now. Asda works with Life Search to find the best life insurance; income protection and critical illness cover.
WORDS: SALLY HAMILTON, DEBBIE VOLLER. ILLUSTRATIONS: KATE MILLER.
*BASED ON THE PRICES OF SMARTPRICE PRODUCTS IN NOVEMBER 2008
