Spend cash and save at the same time!

SINCE I began offering advice about money 10 years ago, I’ve concentrated on solid ways to save. But this week I am going to take a different approach by suggesting good ways to SPEND your money.

The problem here is resisting the temptation to do everything on my list.

Use cash instead of a debit card for all “non-cost of living” expenses like your morning coffee and treats.

The reason for this is simple: as cash is tangible money, you can really sense it slipping away at the till.

It becomes harder to overspend and is less shocking at the end of the month when you see the bank statement.

Buy a travel card. If you use trains or buses on a regular basis, investing in a weekly or monthly travel card is not only up to 20% cheaper, it’s also more convenient.

There’s no more scrambling for change for the bus, or missing your train because you are stuck in a queue.

Buy an M&S dine-in for two. For a tenner you can have steak and chips, a pudding and a bottle of wine. It’s actually one of the best deals of its type out there – Tesco and Morrisons do a version – and a great way to have a treat without feeling bad about the cost. Not every night though!

Buy a cheap flight. Beat the cheap airlines at their own game – get online, look at available flights with the lowest price and book.

I am not saying take a trip to Bristol from Birmingham, although you could, I am saying look at destinations you may have an interest in seeing, and get yourself a cheap break away from it all.

Booking a couple of months or more in advance can bag you a return flight for as little as £19.99, so it’s worth investigating.

Buy decent shoes. These days we can save a small fortune by choosing cheap shops and brands, but poor quality shoes can ruin your day and will need to be replaced way sooner than they should.

I encourage you to spend just a little more on a good solid pair and they will pay for themselves in the long term.