common sense consumers
When someone asks you the question: “Would you rather be really clever or have common sense?” Well if these results are anything to go by then you should know the answer straight away. A study taken by Quotemehappy.com has found that common sense can save you up to £844 per year!
Quotemehappy.com analysed ‘common sense consumers’- those who plan their spending in advance, think ahead and stick to budgets- spending habits across a range of everyday, lifestyle, health and entertainment purchases, comparing those who plan ahead and stick to budgets with those who don’t. Savvy consumers are saving themselves a massive £399 on grocery shopping and up to £244 on holidays. The study of over 2,000 people found that the ‘common sense consumers’ would save money in other areas such as, household expenditure, leisure and entertainment. If you think savvy when it comes down to your pennies, then you could be saving up to £109 on transport, £74.50 on clothes, £10.50 at the dentist £6.70 at the cinemas. There’s no better feeling knowing that you have saved a little money, especially from just doing a little research into the product.
Another way people have been saving money is to cook homemade food rather than buy ready meals, 68% admitted doing this. Also, 52% admit to writing a shopping list to ensure that they don’t overspend or buy anything they don’t actually need.
Although only a quarter of those surveyed make up the common sense consumers, the research confirms that, overall, we’re a nation of bargain hunters. Almost three quarters of us get a sense of wellbeing from shopping around for the best deal and we also like to haggle with the shop assistant to get a better deal. One third will haggle with men bigger hagglers than women! According to the survey 62% get a kick out of bagging a bargain with 37% of these preferring it to a romantic evening with their partner.
Sarah Willingham, finance expert and Founder of letssavesomemoney.com says: “Common sense can sound dull- but it’s anything but. This research shows you can get massive payback if you apply common sense to everyday life. A few changes to your behaviour and how you plan your spending can have a huge impact on your bank balance-and your overall wellbeing.”
But while we pride ourselves on bargain hunting, the majority of those surveyed could still do more to adopt a more common sense approach. As the study revealed that 10% have direct debits for products and services they no longer use, only 11% stick religiously to a shopping list, 12% think it’s too boring to have a planned approach to shopping.
Henry Topham, Trading Director at quotemehappy.com, said: “Our online-only business model is entirely designed around offering customers the best possible deal. Our research shows that the smartest shoppers combine all modern ways we have today of saving money with a healthy dose of good old fashioned common sense. And they’re reaping the rewards to the tune of over £800 a year. Our research represents a victory for common sense.”
Here are a few tips from Sarah Willingham to help you become a ‘common sense consumer:’
- 1. Homeowners spend as much as a third of their income on their mortgage! Thoroughly research the right deal for you and save literally thousands in the long run. Be sure to know a difference between fixed-rate variable-and know what you are signing up for.
- 2. Brits waste a huge amount of cash on unused gym memberships-are you a culprit? If you go once a week or less you might be better off doing your exercise routine outside for free
- 3. Your water bill is usually down to where you live and is often not based on usage. Installing a water meter means you’ll be charged for the amount you use rather than a fixed annual amount- this can mean an average saving of £100
- 4. Over a third of use don’t combine our telephone, broadband and TV with one provider even though we can achieve average savings of £413 a year by doing so!
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