Cut down on your luxuries!

by Rachel Robson on 20 August 2009  |  1 comment
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You might be amazed at how much you can save by cutting down on a few of life’s little luxuries or switching to a better deal...

As I was working my way through the millions of emails I get each week, I came across an interesting press release from Debt Free Direct which got me thinking.

The release highlights how much you could save by cutting down on a few luxuries. So here goes:

Switch utility suppliers... and you could save £180

Scale down your digital TV package... and you could save £378

Change your mobile phone tariff... and you could save £258

Don't renew your gym membership... and you could save £420

Sell the second family car... and you could save £1,860

Stop smoking... and you could save £1,825

Total saving £4,921!

I think that's a really impressive saving just for cutting down on a few things or switching your deal for a better one.

Ok, gas and electricity isn't really a 'luxury' as such, but if you switch your tariff you really can save the pennies. And switching your utility supplier might not be as difficult as you think. Read A step by step guide to switching energy for more advice and don't forget to check out our gas and electricity comparison tool to find out which tariff is cheapest for you.

If you've got a digital TV package, do you really watch all those channels and is it really worth paying out all that money? If you don't need it, get rid of it! If you're looking for a better TV package, read Save £110 with a broadband bundle.

You might be surprised how much you can shave off your mobile phone tariff just by haggling with your current provider or shopping around. If you're looking for a better tariff, read The best mobile phone tariffs!

Gym memberships can cost an absolute fortune so if you're going to get your money's worth you really need to make sure you're going to work out regularly. But even so, there are much cheaper ways of keeping fit. Read How to get fit for less for further inspiration.

Cars can be very expensive to run and if you've got more than one car sitting in the driveway, the costs really start to stack up. So if you think you can survive with only one car, ditching the second could save you a fortune. Alternatively, if you know you definitely can't live without two cars, read Ten top tips to cut your fuel bill to find out how to lower the costs of running a car!

Finally, quitting smoking could not only leave your bank balance healthier because you're no longer paying for cigarettes, but it could also lower your life insurance premiums by around 40%! Read Make money from your New Year's resolution for more advice.

Good luck!