5 money hacks

Grazia (UK) - - Report -

1. Get a phone-based bank ac­count, such as Star­ling, to track your spend­ing and iden­tify money-wast­ing. Trans­fer your salary into pots for ex­penses, bills and sav­ings as soon as you are paid.

2. Hav­ing a de­cent credit his­tory will not only en­able you to get a mort­gage or loan – it will also help you save money, be­cause you will be of­fered bet­ter deals. If you’re rent­ing, you can now add rent pay­ments to boost your credit file through Credit Lad­der.

3. There are lots of apps to help you save lit­tle and of­ten. Chip analy­ses your bank ac­count and puts aside how much it thinks you won’t miss. You can do the weekly sav­ings chal­lenge with Monzo and the app IFTTT, sav­ing £1 on Mon­day, £2 on Tues­day, up to £7 on Sun­day. You’ll have £1,500 in a year.

4. The more fric­tion­less a trans­ac­tion, the less we have to think about it – so ditch con­tact­less and give your­self pocket money in cash.

5. For­get loy­alty. If you haven’t switched your fuel, mo­bile phone, in­sur­ance or broad­band provider af­ter the end of your first con­tract you won’t be on the best deal.

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