We're cashing in with Ravi Rajani who reveals his money saving supermarket secrets!
Firstly make a list and stick to it! Supermarkets will always want you to spend on special offers, so if it's not on your list - leave it!
The most expensive items are usually at eye level, so remember to cast your eye up and down the shelves if you want to bag a bargain
Lookout for layout! End of aisle offers are good, but not always the best! Every store should have their own reduced section. And watch out for those impulse buys at the check out!
My tip is never shop hungry as you're bound to be tempted!
Finally, know your labels! Sometimes the price per packet equals more pennies than the price per kilo
Ravi's app wrap
This app helps you save and make money at the same time. Your daily purchases are rounded up to the nearest pound and invested for you on your behalf. So, lets assume I have a big night out with the boys tomorrow and I buy some Lynx deodorant for 70p. Moneybox rounds my purchase to the nearest pound and sets aside 30p in my savings. Your savings are collected once a week by direct debit and invested for you a few days later. You personally decide how that money should be invested and choose your risk level - cautious, balanced and adventurous. You can hold your investments in a stocks and shares ISA (which most find beneficial for taxation purposes) or a general investment account.
Speak to the Moneybox team to fully understand what you are investing in or an independent financial advisor as the money you have invested will fluctuate and not always go in your favour! Moneybox are FCA authorised and have bank level encryption so your personal details are safe and it's great to know that your investments are covered by the government's Financial Services Compensation Scheme up to a limit of £50,000.
It's extremely hard to teach children about money and saving those pretty pennies, especially when they have their eyes glued to an iPad all day! So why not combine the two? Rooster Money gives your child a digital dashboard where you can send them virtual pocket money, give them extra rewards for doing chores like cleaning their room, and through the tracker you can view their progress and get notifications on their achievements.
The app cleverly allows you to watch how your children allocate their savings to each of their goals. The benefit for parents is that they don't need to physically hand over the cash until they wish! Also if they do decide to make any rude comments about your latest haircut or your husbands new shirt, you can even pause their allowance!
I think this one is quite timely given many big kids will be off to university shortly or might have started their Freshers' Week already! There are so many budgeting apps out there, however, this one is specifically for students. Loot helps students manage their finances better so they don't have to live off baked beans and tuna! Through Loots pre-paid mastercard which you transfer money into, every time you spend the app tracks your spending and automatically categorises it real-time, whilst showing you how to stay on track with your budget. What's also handy is the app anonymously shows you how your spending compares versus your peers, and because Loot don't offer any overdraft facilities you can't get yourself into debt through the card.