Financial adviser Peter Komolafe told ITV’s Lorraine earlier today how he makes huge savings by going through his bank statements with a effective tooth comb a minimum of yearly.
Mr Komolafe is a money expert appearing on the most recent series of Channel 4’s Secret Spenders – a programme which helps cash-strapped families get a grip on their funds.
Appearing on Lorraine on ITV earlier today, he mentioned how people could make huge savings by doing a direct debit detox.
He suggested: “Just take the time to have a look at your funds – so for instance your bank statements – as direct debits are changing barely.
“A whole lot of firms are going from direct debit payments to card payments.”
READ MORE: Boost for a couple of million low paid British staff
One other easy tip for saving money is to rein in online spending by paying by money.
Unfortunately, buying things online can leave people not realising how much they’ve spent.
Nonetheless, allocating a weekly money limit may also help to curb impulsive spending habits.
Mr Komolafe really helpful waiting a day or two before going back and buying a dearer item.
Because the Universal Credit taper rate modified in November, 1000’s more people could also be eligible for a top up.
Nearly a million people (850,000) pensioners are missing out on Pension Credit.
This might help them meet soaring energy bills in addition to qualify for a free TV licence.
Love or Money is obtainable on BBC iPlayer.
