Last year Ash and I finally paid off our debt and I may have had a little party. Paying it off early, of course means we have spent out less in the long run due to not having to pay any more interest and so that saving can be better invested elsewhere.
But paying off debts isn't always something everyone can do – so here are five ideas to help you try and save a few pennies this year.
1. At the end of each day put your small change into a piggy bank (or similar), you will find you don't miss carry around those pennies and you will surprised how quickly it adds up.
2. Save a certain amount each week – think even as little as £1 a week all year would save you £52, enough to make a really difference when buying your Christmas dinner.
3. Sell your unwanted goods, as they say one man's trash is another man's treasure, so why not when the good weather hits, head down to your local car boot, you might be surprised by how much you come back with.
4. Give something up – do you call into Starbucks most days to grab yourself a drink? Well stop and take your own from home (or even swap to buying bottled drinks with your weekly shop), you'll save yourself a pretty penny in the long run.
5. Shop around – whenever you are buying something big, take some time and shop around, you will probably find it somewhere else cheaper and you could pop those all-important pounds into savings.
But what can you do with those saved pennies, well how about looking to open a savings account or ISA to make sure it doesn't get frittered away with your everyday spending's.
What are your top penny saving tips?
*Penny saving photo from Shutterstock.