GETTING RICHER usually means putting in long hours at work, or cutting out treats you love.
But here our money expert reveals how just ONE hour can save you £1,240 – without leaving your sofa.

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Often checking your credit report, haggling your phone bill or opening a savings account can be the last thing you want to do after a long day.
But Kara Gammell, 45, explains spending just one hour a week on each of these things can help you get on top of your money – and save you thousands of pounds a year.
She said: “Each week I set aside an hour to shop around for the best deals on household bills, like broadband or insurance, and to check my spending with my budget.”
Here, Kara, author of The Bargain Hunter – Easy hack and tips to save money every day, shares her six-week plan to help you manage your money better.
Week 1 – The 15-minute rule I always keep
When it comes to managing your money, getting started is often the hardest part, Kara said.
She uses the 15-minute rule to motivate herself to look at her finances.
“When it comes to tasks that you’re putting off, tell yourself: ‘Anyone can do 15 minutes’, then do it,” she said.
“15 minutes is a length of time that is not intimidating, and once you get going, chances are you will carry on even when you reach the time limit.”
If you are really struggling to get started then set a 15-minute timer on your phone.
Use this time to make a list of all the banks you have your current accounts and savings with.
Check if there are any you have forgotten about.
More than £2.8billion is sat in lost investments, according to Gretel, a service which tracks down bank accounts.
Week 2 – Start with a budget
Kara suggests you should start by looking at your finances as a whole.
She said: “The first step for keeping my finances on track is to do a thorough audit of my spending by going through bank and credit card statements.”
Five tips to save money in just 15 minutes
IF you are very short of time then do not worry.
There are still things you can do to get in control of your finances in just 15 minutes or less.
- Opt for electronic statements. Online statements can save you time and help you keep on top of your spending. It takes just minutes to switch from paper to online statements but it could save you hours in the long run.
- Close an unnecessary bank account. It can be easy to loose track of all the current and savings accounts you have. Close any unnecessary accounts to simplify your finances.
- Log into your pension account. Four in five working-age adults do not know where their pension pots are, according to pension finder Raindrop. Look at your account now to see whether you are on track for a comfortable retirement.
- Check your interest rate. If you locked into a fixed-rate savings account more than a year ago then the chances are your interest has changed since then. Check what your interest rate is now and swap account if you can get a better return elsewhere.
- Use a budget spreadsheet. There are many online spreadsheets you can download that will help you to keep a track of your spending. Download one and input your monthly outgoings, regular spending and savings.
To do this she uses a money management app called Emma.
The app is free to download and combines information from your bank accounts and credit cards.
You can use it to track your spending and manage your subscriptions.
Once it is set up you can use the app to quickly check your bank or savings account balance.
Kara added: “It’s quick and easy to set up so it does not feel like an overwhelming task.
“The chances are you will find little bits of spending that could be sending your budget into the red.”
She recommends using the app to check for subscriptions you do not need.
You can save hundreds of pounds a year by cancelling these subscriptions.
Around one in ten people are currently paying for a subscription they do not use, according to Citizens Advice.
Of this group, 65% could save more than £132 a year for unnecessary subscriptions.
You should also check if there are any bills you may be able to switch and make a saving on.
Make a note of these to come back to next week.
Week 3 – Haggle, haggle, haggle
In week three focus on haggling to bring your bills down.
Make a list of every mobile and broadband deal you and your family have and how much you pay for each one.
Check if any of the contracts have already ended and make a note of when the others are due to renew.
Next use a comparison website such as Compare The Market or Uswitch to see how much you could save by swapping to a new provider.
I’m not loyal to insurers – I’m ready to walk

SANJAY AGGARWAL, from Cheshire, negotiates on everything from car insurance to holidays.
He says: “Saving money is important, but it’s also a matter of principle – and there’s a lot of satisfaction in getting a better price.”
Sanjay, 41, who is co-founder of spice retailer Spice Kitchen, saved around £100 a year on van insurance with Admiral after using a comparison site to find a better deal.
He explains: “I went back to Admiral and they lowered the price, so I renewed.
“I don’t have any loyalty for insurance companies any more and am always willing to walk away.”
If you are out of contract then call your mobile or broadband provider and ask them to match the deals you found elsewhere.
They may be able to offer a same-price deal, which could save you money and the hassle of switching to a new provider.
If they cannot match the deal then swap to the best deal you found using the comparison websites.
You could save up to £235 a year by switching broadband, TV and mobile providers, according to consumer group Which?.
Week 4 – Check your credit report
It can be hard to keep track of payments such as overdrafts, loans, credit cards, mobile phones and mortgages.
But failing to do so could leave you with more debt than you realise.
“It can be all too simple to find yourself in the dark about how much debt you have in total,” Kara said.
But this information is important as it forms your credit score.
This score is used by lenders to decide what interest rate they will give you on financial products including credit cards and loans.
It can even stop you from being accepted for a credit card in the first place.
You can get a credit report for free from websites such as Experian or Credit Karma.
Another option is to use an online tool to see all your account balances in one place.
The MoneySuperMarket’s Credit Score tool sends you a monthly credit report which can help you to check what your overall financial situation is.
The tool can also suggest ways to improve your credit score, which can help you secure the best interest rates.
This can help you save money in the long run as the interest rate you will be charged on any money you owe will be lower.
Week 5 – Supercharge your savings
This week you should focus on how to get the most out of your savings.
One way to do this is to set up your bank account to automatically put money aside for you.
Kara said: “Some bank accounts have a feature that rounds up spending to the nearest pound and adds the spare change into a savings account of your choice.”
I saved almost £1,000 using round ups

A SAVVY saver has managed to put aside over £1,000 with a savings challenge – and anyone can do it.
Jacqueline Poutney, 30, lives in Newcastle with her partner.
The teacher, originally from Watford, decided to set herself the challenge of putting money aside during the pandemic.
She has now managed to save a tidy sum after discovering the hack of savings challenges.
Jackie came across open banking app Plum and decided first to opt in for its weekly roundups.
It meant that when Jackie spent money, Plum automatically rounded up the amount and put the difference into a pot every Monday.
So a £2.50 spend would become £3, with 50p then going into her savings.
Since March 2020, Jackie has saved £990.55 through these roundups alone.
This, Jackie says, was all done without her noticing the money leaving her bank account.
Jackie said: “You don’t really feel it that much but once that [saving] balance tops up you don’t want to spend it.
“You don’t want to see the balance come down. The fact it was a challenge made me feel like I’ve got to rise something.”
For example, if you spend £14.50 on a train ticket then the money is rounded up to £15 and the extra 50p goes into your savings.
The average round up user saves £12.37 a week, according to Moneybox.
After a year that would add up to almost £650.
Check if your bank account has a round up feature and if not think about switching.
You could get a cash bonus worth up to £175 if you switch to a new bank.
Another option is to set up a standing order, which automatically takes money out of your bank account and pays it into your savings each month.
You can set this up so the money leaves your account the day after you are paid.
This way you are not tempted to spend it during the month.
Week 6 – Renew at the right time
In the final week you should focus on insurance and make sure you are prepared for when your car or home insurance is up for renewal.
The cost to renew your insurance can vary depending on how soon your current policy expires.
My expert tips to save on your car insurance

PERSONAL finance expert Kara Gammell shares her tips to save money on your car insurance.
If you can pay for your car insurance annually, it’s almost always cheaper than monthly payments.
When you pay for insurance monthly, you’re essentially taking out a loan from the insurer with interest, which can be around 30%.
It’s also worth considering increasing your voluntary excess.
Most policies include a voluntary and/or compulsory excess charge – the amount you pay before the insurer must cough up in the event of a claim.
If you’re prepared to increase this – and you could afford to pay it if you do need to make a claim – it can help to reduce your premium.
You can also cut costs by looking at your usage. Check how many miles you drive, and if you use your car only socially and/or for commuting, make sure that you are covered only for these uses.
If you are also covered for business use, your premium will be higher.
This is because insurers tend to consider drivers who organise their cover early as more responsible, Kara said.
This can mean they are offered more favourable premiums.
Taking out a new policy ahead of time can also help you to unlock additional discounts, which can also save you money.
The cheapest time to renew your car insurance is between 20 and 27 days before your current policy expires, according to MoneySuperMarket.
Timing your renewal right can help you save up to £231 on the cost of your car insurance.
Go through all of your insurance policies and make a note of when they are up for renewal in your calendar.
Set a reminder to search for a new deal 27 days before your current policy expires.
This gives you a week to shop around for a new deal.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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