How to maximise value for money

When it comes to any form of purchase it is important to consider the ways in which you can maximise your return for the money you pay. Often as consumers we can easy slip into a habit of convenience which means we will not always get the best value for the money we are spending. The reality is that so much of the purchasing we do and the payments we make are on an automated basis and as such we forget to ensure there is value for money being accounted for. Take for example our insurance policies, many of us make monthly payments to satisfy these costs and as such the payments are debited directly from our account month in and month out without considering whether there is a cheaper option available to us elsewhere. This is just one of many examples when it comes to not fully understanding if we are getting full value for the money we are paying for goods or a service. The fact of the matter is if we were to take the time to investigate where savings could be made, there is likely to be a whole host of resources at our disposal that we are not currently taking advance of.

One of the services which are available to assist us in our aim to save money is that of comparison based sites. Not only do comparison sites give us the tools needed to compare the cost and service offered within a given market but often these sites offer additional offers and promotions should their service be used. Take for example Compare The Market, this is a site which allows consumers to compare the cost insurance policies, ranging from home insurance, car insurance and pet insurance. This comparison site enables consumers to input their personal details and their requirements and then a list of providers and their costs are subsequently produced. Although it is true to say that not all suppliers from all sectors will enrol in such sites comparisons, equally a large percentage of the main stream suppliers do. Such sites very quickly and easily provide the key information needed to ensure the best product for your individual needs are matched with the best price. In addition to this core service comparison sites will also often offer addition benefits simply for using their service. This can range from money off vouchers, to free cinema tickets and even cuddly toys! As such these comparison sites can offer a very rounded buying experience without the need to input and provide your personal details over and over again to find the best possible deal.

Comparison sites are not the only money saving resource which is housed within the World Wide Web. Our heavy reliance on the internet and the vast variety of tools it provides means product and service providers are keen to draw you to their website rather than one of their competitors. One of the ways this is done is money off discounts for first time purchases or as a thanks for downloading and using their specific Smart Phone application. Sometimes simply visiting a website directly for the first time will produce a means for discount to be applied. This is usually presented via the means of a ‘pop up’ on the screen when you initially land on the suppliers website. Such Pop-ups are designed to keep you on the site longer and hopefully reach the point of making a purchase.

As well as being presented with discount for visiting supplier websites directly, there are also a number of discount sites who specifically act as a service for saving you money across a broad cross-section of industries. This could be anything from clothing through to holidays and there are a great selection of such sites available. Take for example Woucher. Woucher provide their subscribers with up to date vouchers for a range of products and services. Joining the service is free and you can tailor your preferences so as to ensure you only receive offers and discounts specific to the things you are actually interested in. The offers which apply are then emailed to you as and when a new offer becomes available. Woucher are not the only service of this kind and in fact, there are a number of different websites who offer this service via the means of email communications. Signing up to such services can mean discounts as high as 50% off the listed price become assessable which would have not been in normal circumstances. So more so than ever before it is important to consider shopping around before agreeing to the purchase of new goods or services.  

Representative Example: Representative 1286.98% APR on a loan of £300.00 with 5 monthly repayments of £101.03 Total amount repayable £505.13 Annual interest rate (fixed) 290%

Warning: Late repayment can cause you serious money problems - For help, go to moneyadviceservice.org.uk

This article is not intended to contain information about, or advertise, products offered by us but is intended to contain information, give opinions or discuss generally available products/services.

Author: Internal Customer Services Agent

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