AS the festive season looms, many of us are looking at ways to save money.
But not all advice is good. We got experts to bust four common myths . . .
KEEP ALL MONEY IN A CURRENT ACCOUNT: This could be costing you.
Brian Byrnes, head of personal finance at the savings app Moneybox, advises: “Many people think the best place to keep their cash is a current account.
“Actually, with interest rates now higher than they’ve been in 15 years, it’s worth shopping around and seeing if you can get a better rate on your savings.”
BLACK FRIDAY DEALS ARE ALWAYS THE BEST: Many people scramble to pick up Christmas gifts on the Black Friday weekend, later this month, but there could be a better time to splash cash.
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Finance expert Michelle Delker says: “Rather than going shopping on these dates, track prices of items you genuinely desire, and use price-tracking tools or apps to get items when prices are at their lowest.”
USE A SHOPPING LIST: When hitting the supermarket, you might think writing a list is the best way to save.
But Sarah-Jane Outten, shopping expert at MyVoucherCodes, says: “We often think sticking to a list avoids overspending, as we dodge impulse buys.
“But when we militantly stick to one, we tend to ignore the bargains on offer.
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“If we’re willing to switch brands or even meal ideas, we can save a fortune.”
SAVE BY DITCHING DAILY TREATS: If you buy five coffees a week at £3.30 each, you would save £16.50 by cutting them out.
But your chances of sticking to this are not great in the long term, says Sarah Coles, head of personal finance at savings platform Hargreaves Lansdown.
She suggests: “It’s much easier to start with changes that mean you only have to do the right thing once — such as shopping around for insurance.”
- All prices on page correct at time of going to press. Deals and offers subject to availability
Deal of the day
TIME for a new watch? This Armani Exchange rose gold model is down from £149.99 to £74.99 at Argos.
YOU cannot go wrong with a deep-red lippy.
Try Revolution Pro’s satin matte lipstick, £6, from River Island.
HAVE a banging bonfire night with Heck’s Guy Porks sausages, featuring diced apple and a hint of black treacle.
Six-pack is £3 from Tesco, until November 21.
GIVE yourself a gentle wake-up in winter with the Lumie sunrise alarm, £49 from Dunelm.
Or try the Groov-e wake-up light, £34.99 from Robert Dyas.
Leah’s little helper
SEND a Moonpig Krispy Kreme card to a loved one and they get a code for a free original glazed doughut.
Cards are free to order with the code SENDJOY until November 14 – you pay just £1.25 postage.
Shop & save
BRIGHTEN up your home decor with Dulux’s ten-litre pot of pure brilliant-white paint.
It’s down from £25 to £20 at B&M.
Hot right now
DOWNLOAD the McDonald’s app to get offers and prizes every day until the end of November, including 99p menu items.
PLAY NOW TO WIN £200
JOIN thousands of readers taking part in The Sun Raffle.
Every month we’re giving away £100 to 250 lucky readers – whether you’re saving up or just in need of some extra cash, The Sun could have you covered.
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Everycode entered equals one Raffle ticket.
The more codes you enter, the more tickets you’ll earn and the more chance you will have of winning!