BGN Entrepreneur

Do pay off certain debts before others. Start with your credit cards first, as the interest rates are higher than any other kinds of debt, especially when you have withdraw cash with them.
Do think ourtside the box. You are allowed to earn up to GBP 4250 tax-free, on top of your salary, from renting out your spare room. Or taking a pub job one night at the weekend will stop you spending a fortune on a night out.
Do make like an American housewife. Money0off coupons are your best friend.
Don’t be slave to eBay. People are overpaying for second-hand, or even new goods under the illusion they are saving money. Do your research to know what is a rip-off.
Do use your credit card. Buying with a credit card can be a good thig. Anything you buy between GBP 100 and GBP 30000 is protected by the credit card provider. If the produt or service is faulty or the company goes bust, you’ll receive a refund.
Do the 50/50 debt and savings trick. Don’t pour all your spare money into paying off debt, save half of it. Having savings equals freedom. Without any, you could be trapped in a job you hate. Aim for six months of essential-living money.
Do open an ISA. All deposits up to GBP 50000 with UK-owned banks are guaranteed by the governement if the bank fails. And interest is tax-free.
Don’t buy that dirt-cheap house yet. House prices may have fallen, but they are still astronomical in the grand scheme of things. The average house should be about 3-to-4 times the average salary, but it is still six times as much. By the time the recession ends, it is quite likely house prices will have fallen to 3-to-4 times. In general, rents are at rock bottom right now, so buy next year instead.
Do shop around for holidays. With holiday companies in a slump, there are some great bargains out there.
Don’t be seduced by cheap flights. There are cheap-as-chips flights going to SanFrancisco, but you’ll need spending money when you get there.

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