Jersey's Citizens Advice Bureau Chief Executive, Malcolm Ferey, has given ITV News his top eight tips on saving money.
It's following a report which shows a quarter of all households in Jersey are struggling to make ends meet.
- Compare prices and shop around before making major purchases.
- Prepare a budget, make a list of what you need and stick to it!
- Take only the cash with you that you can afford to spend while shopping, and spend only that cash.
- If you cannot avoid borrowing, use the lender that offers the lowest interest rate. Avoid ‘pay-day loans’.
- Be aware of your bank balance to avoid overdraft charges.
- Internet shopping can be cheap and convenient but make sure you hold a record of all transactions to keep a track of your spending.
- Avoid applying for more than one or two credit cards at a time.
- There are many charities that can help if you are in desperate need of life’s basics (food and heating). Contact CAB for advice.