Finance Roll

I recently read a fantastic article entitled, "Are You Throwing Money Away? on Unused Expenses and Untapped Discounts" The whole article was about how we should check out or finances at regular intervals to make sure we are getting value from every little penny which is leaving our purse or wallet. Below, I have adapted some of the suggestions made in the article to our UK customs:Unused and Unnecessary Expenses

Memberships - Duncan Bannatyne must be taking a battering since the Credit Crunch began. If he isn't then he should be! A gym membership is nice when the money is rolling in, but with storms clouds on the horizon it must be the first to go. There is actually nothing at all that can be accomplished in a gym that can't be accomplished for Free elsewhere. In relation to my own finances, I signed up for Lovefilm about 9 months ago and I now need to ask myself, is it necessary to have Lovefilm and Sky Movies? (I say ask myself - I actually mean She Who Must Be Obeyed)

Banking Fees - I am a great fan of Martin Lewis and I copied his methods of retrieving Bank Charges last year. In the past I was very lax at keeping my balance within the overdraft limit, resulting in about £1000 of charges. If this is you then take action now. It may not be possible to be refunded bank charges soon, so why not just switch your account to one offering a larger overdraft? I switched to an A&L online account, and I've been very happy with them so far. After 6 months or so of good conduct they increased my overdraft limit to £2000. Just make sure you don't act like a kid in a sweetie shop when the overdraft is granted.

Magazine Subscriptions - cancel all magazines! Don't even try to argue with me on this one. There is nothing in a magazine that can't be gleaned whilst browsing the newsagents or by doing a bit of research online.

Unused Extras on Your TV Programming - as above, I am going to have to have a serious chat with the Mrs. regarding our current satellite package. I can honestly say that I have enjoyed about three hours of programmes in the last month. Remember the Bruce Springsteen hit "57 channels (and nothing on)"; well I'm recreating that every evening.

Too Much Insurance Coverage - Insurance is my game. Now is not the time to be cutting back on policies (apart from pet insurance - no more pet/ no more insurance in my book) however I would seriously consider increasing the excess on your home and car insurance to save a few pennies whilst the credit crunch rages.

Reward Programs - many people are switching to the budget superstores in order to save money at the moment, but after a spell using Aldi, I am back patronizing my local Tesco. I have done this for two reasons. Firstly because the Tesco value range is as good, and as cheap as the wares on offer at Aldi. Secondly, the Tesco points system gives me an added reason to visit over its budget rivals. Marketing does work.

When you get your next bank statement focus in on: memberships, banking fees, magazines, TV packages, insurance and reward points. Small changes in these areas can make big differences to your bottom line, with very little effect on your lifestyle.