Fancy a payrise without having to confront your boss? Well, you could make £1,000s each year just by going through all your bills and products, cutting out excess waste and ensuring you’ve the best deal on everything. It’ll be the most lucrative day of your life as the average family could earn themselves a 25% rise.

To do this you’ll have to make painful and painfree savings. Painful savings mean making sacrifices to save cash. This could mean taking your own sandwiches to work, cutting down on takeaways or spending less on luxuries.

Painfree savings mean no lifestyle changes, just more cash in your pocket. That could mean switching your bank account, credit card, utility provider or any of your other financial products to ensure you’re on the best deal.

Resources to give yourself a Money Makeover

While it takes time, saving serious money is much easier than you think. The following resources should allow you to speed through it and pile up the pounds.

• Free Budget Planner. Download this free tool, designed by Martin, to work out if you spend more than you earn or vice versa. Link: Free Budget Planner

 

• Full Money Makeover Guide. Follow through this step-by-step guide to overhauling your finances, including details of where and how to make the big savings. Link: Money Makeover Guide

 

• How To Stop Spending. If you’ve done all the pain free savings, then you have to start to cut back. Link: Stop Spending article and the free Demotivator tool.

How did our studio family do?

We invited a debt-free family from Northamptonshire to the studio to try to help them prevent spiraling into debt. After completing the budget calculator they discovered they were spending £5,000 a year more than they earn.

On the bright side, Martin reckons he could save them £2,400 a year just from a cursory glance at their finances. Most of the savings would be made by maximising their entitlement to benefits, switching phone and broadband suppliers and by saving in a tax-free cash ISA.

Yet there are many more savings they could make which will hopefully wipe out their deficit.

Complete information and guidance to gain a 25% payrise of possibly £1,000s is detailed in the full Money Makeover step-by-step guide.