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Better Budgeting

027th February 202027th February 2020
By Oakwood Mortgage ServicesIn General

We are all guilty of spending cash on things we don’t need. Even the most frugal of spenders could look at their budget and find ways to cut back on non-essential items and increase their savings pot. If money is tight or you are just trying to save more here are some money saving tips.

Avoid the impulse
Before buying anything, especially those items that are more expensive like electronics and gadgets ask yourself:

  • Do I need it?
  • Can I afford it?
  • Will I use it?
  • Have I checked if it is cheaper elsewhere?

If you have answered no to any of these then don’t buy it.

Google it
Google is your friend when shopping. Especially if you know what you are buying. You may be able to find what you are looking for cheaper online or for the same price with cheaper or free postage. And always look out for online deals or use money apps like Honey, which automatically search for and apply discount codes to your basket. You may be able to purchase items substantially cheaper if you buy it second hand on sites like Amazon Marketplace or eBay.

Do you need to upgrade?
You may have an iPhone XR or a Samsung Galaxy S10 in your pocket and you may be coming to the end of your mobile phone contract.

You may be thinking it doesn’t cost a lot to upgrade but to upgrade your iPhone to an iPhone 11 Pro could cost you from £799 and to upgrade your Galaxy S6 to an S20 Ultra will cost you from £1199. But do you really need that phone upgrade. You may not have noticed the cost of your current phone, as it is bundled in the monthly charge with your calls, texts and data costs. And once it is paid off that is extra money available to you every month to save or to pay a little extra towards another bill, such as a credit card.

Work it out
Nearly a quarter of Britons have a gym member but only 12% use it regularly. And with the average gym membership being £35 per month that’s £420 a year being wasted.

If you are not using your gym membership cancel it as soon as possible and become more tech savvy about your fitness. You will find a YouTube channel on almost every kind of workout from dance to yoga. Alternatively, you could download some free apps like ‘7 minute workout’ or the ‘Zombies, Run’ – the immersive running game.

Watch what you’re watching
If you have multiple TV and streaming subscriptions cut down to the ones you really watch. Do you really need Netflix, Amazon Video, Britbox, Apple TV and Google Play? If you still want to keep terrestrial channels such as the BBC move from satellite and cable subscriptions to Freeview or Freesat.

What else?

  • Avoid eating out or ordering in cooking at home can be much cheaper
  • Cut your utility bills. See if you can get a cheaper deal by switching supplier. If you are on the cheapest deal try using less by turning down the thermostat, switching off lights and washing up in a bowl instead of under a running tap.
  • Get rewarded when you do spend. Sign up to loyalty schemes for the retailers you use most often.

There are many ways you can spend less, if you would like help with better money habits, please get in contact.

Self-employed? Prioritise your pensionProviding a retirement windfall for your child

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Oakwood Mortgage Services Ltd
Oakwood Mortgage Services Ltd
5.0
Sharon Price
Sharon Price
15:30 12 Aug 20
In these current times Stuart has assisted me with a temporary solution to my mortgage issues which went very smoothly. I will be working with Stuart again very soon to change mortgage product completely. Thank you Oak wood Mortgage Services
Ben Brown
Ben Brown
16:38 31 Jul 20
I would like to say a huge thank you to Oakwood Mortgage Services and in particular to Richard Burley who seems capable of working miracles, particularly when dealing with the complicated applications of a sportsman. Richard’s calm manner and problem solving have been brilliant over the years and allowed both Katie and I to stay relaxed and in control during stressful house buying moments, as well as helping us to navigate the the complex buy-to-let market! We owe a huge debt of gratitude to Richard and Oakwood mortgage services ahead of moving house next week, and I would highly recommend their services. In particular I would recommend them to other sports people who have previously struggled with mortgage companies based on our short contracts and the potentially volatile nature of our work. Thanks again Richard. Ben and Katie
Gwenie Ralph
Gwenie Ralph
20:57 06 Jul 20
I gave Stuart at Oakwood Mortgage services a challenge of finding me an impossible mortgage. I knew I wouldn't get exactly what I wanted, but he came up with some nice surprises. He explained everything, not pushy at all, a friendly and professional approach. Thank you
nicky Myers
nicky Myers
19:17 25 May 20
We were first time buyers and dealt with Richard around the mortgage application. He helped us understand each process, explaining everything thoroughly and came to meet us twice where he was very personal and efficient. Dave took us through the building and contents and life insurance process, again coming to meet us in person and took us through the options, step by step. Dave was very communicative and answered any questions we had.Emma was there throughout this process and on hand with any urgent queries we had and was a delight to deal with.They managed to make it all happen, even during lockdown!Highly recommend Richard, Dave, Emma and Oakwood. We are very happy in our new home!
Daniella Castro Gouveia
Daniella Castro Gouveia
11:31 19 May 20
I have worked with a number of the Oakwood team over many years and they are all excellent and totally professional at what they do. Dave came to our family home a few years ago to discuss and advise us in terms of financial insurance. He was very knowledgeable, really easy to talk to. Sometimes discussing financial things can be quite tricky to understand, but I felt at complete ease with Dave. I would highly recommend speaking to him if you need insurance or even need a mortgage as he covers both areas. Thanks for all your support Dave. It's always good to have someone who has your back!
Richard Craven
Richard Craven
19:12 03 May 19
Stuart was excellent, helped me obtain a mortgage quickly and painlessly with minimal effort and was always ready to promptly answer any questions I had.
Andrew South
Andrew South
17:50 26 Mar 19
Stuart was very profession and friendly, He was there to help when something went wrong.Highly recommend!!
Ian L
Ian L
13:45 03 Jan 19
When we started looking for a house, we contacted Stuart based on a work colleague's recommendation. Having not bought a house in the UK before, we had a lot of questions.Stuart guided us through the process and was always available to answers questions and provide advice that was easy to understand.We had a protracted period between initial contact and purchase, in this time Stuart was patient, professional and provided us with a high level of confidence that we were in capable hands.A huge thank you to Stuart and the staff at Oakwood, we would not hesitate to recommend them.Ian and Yoosun
Claire Vince
Claire Vince
22:13 21 Dec 18
Great service. Paul talked us through everything really clearly and made the whole process very smooth and straightforward. We have recommended Oakwood to friends as a result.
Christopher Relph
Christopher Relph
23:27 29 Aug 18
The team is very friendly, professional and knowledgeable on their given subject. My situation was rather unusual and my options were very limited, if i had tried on my own i wouldn't have found the best deal for me. The information provided to me was well presented and insightful, if anything was unclear they made sure that i understood things fully. In the end they found the best deal out there that ticked all the boxes i needed and went above and beyond. To make sure i wasn't put into a position i couldn't afford to be in Stuart would go to an agent and tell them when things weren't possible, even when they were insistent on getting a deal, Stuart had my back in it!I can't recommend them enough, and will be returning to them down the line myself!
Sam Eccles
Sam Eccles
15:35 24 Jul 18
Top notch service. Friendly, prompt and accessible no matter where you are based (I'm in the Highlands). Much better service than that experienced by local face-to-face advisers with a large portfolio of companies that ensure you can get the mortgage to suit your needs. Have happily referred to others in less than usual circumstances, all of whom have come away delighted
Michelle Ames
Michelle Ames
18:20 07 Jul 18
Highly recommend. We were first time buyers and Stuart made the process simple and efficient. We found our property and made an offer on the spot, but the agents needed to speak to Stuart before stopping further viewings, so he dropped everything whilst at a conference and the rest is history. Buying a house is an emotional time, so having the mortgage element handled by a professional, yet down to earth person like Stuart was invaluable to us. Thanks Stuart.
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