The all-time top 5 money saving tips

Here is the long-awaited Simple Payday guide to saving your wonga.

Please be advised that this is just a guide and any financial decisions should not be made without first consulting your spouse and/or a bank manager.

1. This rule should never be underestimated, be smart. Commonsense in this world can go a long way, as the old saying goes there is nothing easier parted than a fool and his money. Get rich-quick schemes or just that 'schemes', usually schemes for the other party involved to get rich with your hard earned dough. Don't be fooled into giving anyone your cash or card details.

2. Don't gamble, although this might seem on the surface a good idea to double your cash fast, if you can't afford to lose the money, you shouldn't even be thinking about this one. The odds with any type of gambling are always stacked against you, so even before you start you're behind. Save your money and play a video game, although if you do, put it all on red because this colour will be appearing on your bank statements if you pursue gambling in any guise.

3. Buy supermarket own brands and look out for reduced items. Manufacturing is not such a dis-jointed economy that all food stuffs are produced that differently. Most of the supermarket own brands are produced in the same factory or by the leading manufacturers. Sometimes the leading brand can be as much as twice the price, although they may taste a little different most of the effect is psychological, you know you've paid twice the price so it should taste better, right? Well maybe not but you've got no money, so count your blessings you're even eating and not on the streets.

4. Make sure you have no holes in your pockets, this can be the number 1 cause of losing money, followed closely by forgetfulness.

5. Take your supermarket own brand food to work and have it for lunch. Your work colleagues may look at you a little strange as you cower in the corner with a can of basics beans, however you can have the last laugh knowing you've saved over £2 on not buying that boots submarine roll, that's 21 cans of basics beans with a penny to spare.

James Lewis

Fast UK Loan Provider

James Lewis is a Financial observer and satirist. Has been in the finance sector for over 4 years. He is the Customer services manager at SimplePayday.co.uk