Our top tips for how to get out of a financial JAM* (that’s just about managing) — plus deals from Sun Savers
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ARE you in a JAM with your finances? Almost half of UK households say they are “just about managing”.
But according to research from Provident Personal Credit, these families — dubbed JAMs — are hit with four sudden costs each year, such as car or boiler breakdowns, which take an average of four months to pay off.
Fifteen per cent of them say they have had to go without essentials such as heating, or cut back on meals, to pay unexpected costs.
So with winter on its way, how can the JAMs get by? Here are seven tips.
1. Save for the unexpected: It is pointless just looking back and wishing you had tucked a bit of cash aside before the boiler broke down.
Start a “just in case” fund now, so you can meet those unforeseeable bills when they crop up.
2. Claim what you’re entitled to: From working tax credits to child benefit, you might be entitled to help.
Run your details through the Government’s official online benefits calculator at to see what support is there for you.
3. Take stock of spending: Those last-minute panic trips to the shops, impromptu takeaways and unnecessary outlays have a big impact.
By checking on them, you will get a clearer idea of where your money goes.
4. Be mindful about money: Once you are aware of your spending, you can decide what you can and cannot afford — and make better decisions in the moment.
5. Get better at planning: Creating a budget is key to financial stability. Work out how much you need to set aside for bills, essentials, and groceries each month, so you can begin to spend responsibly.
6. Become a savvy shopper: Being clever with your everyday spending can pay off in the long run. Bag bulk-buy deals, stick to your shopping list so you’re not tempted to overspend and always compare prices for both big and small buys.
7. Make smart spending a habit: Shaving a few pounds off the weekly shop means nothing if you then spend it on something you do not need. Instead, tuck it away and start your emergency saving fund. Saving even just a couple of quid a week will help.
Reader’s top tip of the day
JANINE ALLINSON, from Bishop Auckland, County Durham, says: “Use social media to find your local buy, sell and swap site.
“You can pick up amazing bargains, especially on bulky items like furniture or garden goods.”
- Send us your tips to [email protected] and you’ll get 28 codes worth £5 if your tip is used. Please include your name and town.
Copper load of this pan offer
SAVE BIG: Cook up a storm with this deal. San Ignacio Bergner Professional Copper Induction Frying Pan Set. Was £68.50, now £30.99, at .
SAVE: £37.51
SAVE BIG: Raise your glass to this sparkling saving. SPAR Prosecco Magnum Collezione RSP, was £22, now £15. Offer closes on December 3.
SAVE: £7
Toys saving is child’s play
SAVER SPOT 1: Toys are less with Topcashback.
The reward site is offering all new members up to £15 off at Toys R Us.
Use the link before December 10.
SAVER SPOT 2: Go posh for less dosh.
The Hilton hotel chain is launching its winter sale today, with up to 25 per cent off selected stays. See .
Fancy a free fiver?
YOU can get FREE cash with super Sun Savers just for buying your favourite paper.
Our brilliant new rewards club will pay back our most loyal readers.
Just pick up the paper each day to collect your Sun Savers codes and we will GIVE YOU £5 when you have collected 28.
This isn’t a one-off and there is no limit to how much cash you can save.
For every 28 codes you enter, we will give you a fiver. So over the course of a year, that could add up to £65.
We are keeping it super-simple. You don’t have to enter codes from consecutive days, so don’t worry if you forget a day or two.
Download our easy Sun Savers app and quickly scan your code using your smartphone. Or go online and enter your code at .
What is Sun Savers? Here's everything you need to know about our new rewards club
To get you on your way, join today and we will put a bonus £1 in your Sun Savers wallet tomorrow. And the good news doesn’t stop with free cash.
With Sun Savers, we give you the best hacks, deals and tips to save money every single day.
TO JOIN: Don’t worry, folks — joining takes just 30 seconds, in three steps.
All we’ll ask of you is your name, your date of birth and an email address to get you on the way to your first crisp fiver.
You can choose to save or cash out straight to your bank account or instantly with Paypal.
Don’t delay — join Sun Savers now!
