Minimising costs and saving money

There are many ways to reduce your spending and keep your money in your pocket. The Internet in particular is a great way of reducing your costs. We list here three simple steps for you to take - you can't fail to save money!!

If you are buying a product ranging from anything such as a CD Album through to the latest plasma television or washing machine, then there are a few useful sites that can compare prices for you within seconds:

You may need to be a little careful with the supplier of the product (the cheapest suppliers aren't always well-known brands) although you may often find the smaller independent suppliers are much cheaper.

Similarly, there are many comparison websites out there that will allow you to compare the cost of services. You enter your details once and they search the market to find the cheapest supplier.

These comparison services typically cover insurance products (car, home, travel, van, motorbike); gas and electricity suppliers; supermarkets; travel and hotels; phone and broadband. Try these:

Don't forget that the cheapest price doesn't always mean that you get a good deal. For example, many insurers will strip out key elements of cover to bring the price down and unless you do your research you may find you haven't got the cover you need just when you need really need it.

Some of these comparison sites usefully compare product features as well as price. Sometimes it is worth paying that little bit extra in order to get the product that is best for you. So, be careful what you buy and make sure that that your needs are being met.

Once you have found your cheapest or preferred supplier of your product or service then it is often worth checking whether you can buy that service through a 'cashback' site.

These sites share the commission they earn for introducing you to the supplier of the product. For example, a car insurer may give the cashback site a commission of £50 for introducing you as a new customer. The cashback site may in turn reward you for buying the product through their website by sharing some of that commission (say £30 of it).