Don’t let the heat go to your head this summer. No matter how hot it gets outside you should keep cool when it comes to your money. Whether you are going away on holiday, using your annual leave to do a spot of DIY or going on a great British family day out, it’s essential you look after your home, your car, your belongings, and your cash.
1. Spend your money wisely in foreign countries.
Be wary about using your credit card abroad as you could be stung with high charges and fees, including commission and a charge for just using your credit card in a shop or restaurant. Choose one of the few travel-friendly credit card providers that make spending money abroad a whole lot cheaper. The Post Office charges 0%* commission and no fee for buying goods on your card. It does levy a small withdrawal fee but it still beats the majority of credit cards hands down.
2. Make sure you have an adequate travel insurance policy.
They can be cheap (if you buy online!), quick to arrange and can be invaluable if something goes wrong while you are abroad. But read the policy details carefully on any insurance you are interested in – and check that you don’t already have cover with your existing current account, as some offer it to customers free of charge. Alliance & Leicester’s Premier Current Account for example comes with free annual European travel insurance.
3. Plan your summer car care.
Carry a spare tyre if you are setting out in the car for a summer weekend break, and keep a large bottle of water in the car in case the engine overheats (and a bottle for yourself too). Also, think about upgrading to comprehensive car insurance, or at least third party fire and theft, to cover yourself. When you are in unfamiliar surroundings it is more likely you could have a bump, or that you might park the car someplace where it is at risk of theft.
4. Do some home improvements.
With the property market in the doldrums many homeowners are reluctant to move, but you can still make your home more appealing. If you just want to spruce up the place, a lick of paint could work wonders and shouldn’t be too pricey. If you want to be a bit more ambitious, it might be time to put in a new kitchen or bathroom. If you think this is going to be too expensive, why not compare personal loans to see if you can find a great value deal.
5. The rising temperature may mean it’s time to turn off your heating for a while, but don’t forget about it altogether.
Why not switch to the cheapest energy supplier for your needs before the end of summer. You can switch your gas, electricity or both together and the process is extremely quick. You might not notice the difference now, but once summer ends and the cold nights return you could start making big savings on your fuel expenditure.
* Rates correct at 02/06/2009.
