KIS Bridging Loans
 
Presented by KIS Finance
 

Since the start of the UK lockdown, we’ve all been forced to make huge adjustments to the way we live our lives.  For many of us this has included having to accept unexpected changes to our income, which have resulted in needing to relook at how we manage and spend our money.

You don’t need an expensive gym membership to exercise

The price of a gym membership can vary hugely; some gyms charge £20 for a monthly membership, whilst overs can charge upwards of £100 per month. A lot of us think we need a gym membership in order to exercise, but with the UK lockdown preventing us from being able to go to the gym for the last two months, we’ve had to turn to alternatives.

There are thousands of free, yes free, home workout videos on sites like YouTube and Instagram, which people have been turning to in the absence of the gym. And these videos are often made by fully qualified personal trainers and health & fitness professionals.  Many of us have realised that the workouts you can do at home are just as good and equally beneficial as the workouts you can do in the gym, plus you have the additional comfort of doing them in your own home or garden.

You only need to go food shopping once a week

In pre-pandemic life, a lot of us would go food shopping as and when we needed to, instead of planning meals and doing one major shop. However, the guidelines during the lockdown have been to shop as infrequently as possible, meaning we have been forced to shop just once a week or less. This has led to many of us turning to tinned or frozen products, which has made a lot of people realise how much they can save by doing this instead of buying fresh ingredients throughout the week.

It’s important to have an emergency fund

Most finance professionals will advise people to have an emergency fund in place, but not everybody necessarily takes this advice on board, or they save just enough to cover a new tyre for their car or a new washing machine. The pandemic has shown us that unexpected things do happen and you need to be prepared. Your emergency fund needs to be enough to cover a couple of months’ worth of income, so you don’t have to rely on credit or help from friends and family to cover bills and expenses if you have an unexpected drop in wages.

Your budget will stretch further than you think

Before the lockdown, you were probably adamant that your budget couldn’t stretch any further and you were already cutting down costs everywhere you could. A change in income, however, has made many relook at their budgets and find ways to cut down costs even further.

With non-essential shops, pubs, restaurants, and other leisure facilities being closed, it’s probably made many people realise just how much they can save by cutting down these costs.  Food costs can also easily be cut down by buying tinned and frozen ingredients where possible, planning your meals ahead and shopping less frequently.

It pays to switch energy suppliers

With us all spending much more time at home than usual, energy bills have soared. If you’re not someone who compares energy deals every year and just lets your tariff roll over because you don’t usually spend that much time at home, you’ve probably been paying a lot more than you need to through the pandemic. The difference between the cheapest and most expensive energy deals on the market can be hundreds of pounds per year, so it’s very important to get on the comparison websites and check that you’re getting the best rate available to you.

 

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