Research shows that nearly half of Brits (46%) are now using their time and skills to generate a second income through a side hustle, pocketing an average of £274 extra per week. For some people, those side hustles are becoming so profitable that they outearn their main income.  

Greenwich-based Chersty Bitsindou is one of those people. She started working on community marketplace Airtasker as a way to earn extra money in 2018. Since then, she has turned her side hustle into a profitable business that “exceeded all expectations”.

We talked to Bitsindou to find out how she managed to earn an impressive £34,000 with a side hustle.

How a side hustle can change lives

Bitsindou used to be a dental technician before she joined Airtasker to offer house cleaning services. As a 30-something with three children aged 16, 10 and 4, Bitsindou needed a flexible side hustle that would help her increase her income, reduce her childcare costs, and allow her to spend more time with her kids. “My salary as a dental technician wasn’t satisfying, and I had to pay for childcare,” Bitsindou says.

The opportunity for change came when Bitsindou’s eldest daughter Amy saw an Airtasker ad on a train. Airtasker encourages people to monetise skills they already have – whether that’s offering IT support or flatpack furniture assembly. In the case of Bitsindou, that was house cleaning. Why? Because, as she puts it, “I love cleaning and that’s why I do it!”

“My mum used to have a cleaning company and, age 16, after school and at weekends, mum took me on jobs and trained me. She was very strict at home in keeping everything clean and tidy, and that’s where my high-quality of work comes from,” Bitsindou explains, adding that though she has other qualifications (which include being a dental technician and HR manager), she just truly enjoys cleaning.

She’s also making the most of other skills she has – including being able to speak French and German – to get more work. “I have met many French people, especially in Kensington, and they all love that I am multilingual,” she explains.

While it took some time to build up her client base, Bitsindou says once the five-star reviews started coming in, she was never low on jobs. “Once I hit 200 five-star reviews, I needed to get an assistant in order to fulfil all the tasks,” she explains. Eventually, she quit her job as a dental assistant and her Airtasker side hustle is her main source of income now. 

The many advantages of a side hustle

Although workload varies every week, Bitsindou says she usually has five or six jobs split across three days. Some jobs take longer than others, which is why it varies so much. Shorter work time also means Bitsindou can save a lot of money on daycare. “I can have great flexibility, earn the money I need to support my family and still have time to do my other hobbies, such as Gospel singing,” she says.

The job comes with unexpected pluses as well. “I get to meet celebrities and recently cleaned for Raheem Sterling’s fashion event, where I met Tinie Tempah.”

Bitsindou says that while her earnings mainly go towards bills at the moment, she’s also saving to complete a master’s degree in communication to build her own cleaning business. And she’s been able to take her children on trips and spend more time with them.

The post “I gave up my job for a side hustle that’s earned me over £34,000” appeared first on The Motley Fool UK.

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Consumer borrowing on credit cards has jumped to an all-time high, according to the Bank of England. Household unsecured credit in the UK grew by £1.2 billion in November 2021, a significant increase from the positive change seen earlier in the year.

It’s also a much higher gain compared to the £800 million economists were anticipating after the easing of the lockdown.

How credit card debt has changed

Credit card debt across the UK was £56.5 billion in August 2021. This was a significant reduction from 2020’s numbers, which reached £72.1 billion. But by the end of the year, Brits were spending a lot more and accruing more credit card debt. This was partly a reaction to the easing of the restrictions, allowing people to finally go out and travel.

While the end of lockdown has proven to be a relief for many, it has also increased debt for many households. According to Akansha Nath, head of partnerships at Credit Karma, “After such a financially difficult year, encouraging shoppers to only spend what they can afford is easier said than done. But while the occasional treat can act as a brief distraction, the resulting challenges of overspending are likely to last much longer.”

A good credit score can save you a lot of money

Research by Credit Karma shows that paying off debt and improving your credit score can save you an astonishing £129,000 over a lifetime. This is because people with poor credit are more likely to be charged higher interest rates, denied more affordable loans, or simply not able to qualify for better financial opportunities. 

“Tackling debt or money worries as early as possible can limit their long term impact,” says Nath. “Talking to your lenders, or seeking independent support can help to restructure debt in a more manageable way.”

This can then reduce the future impact on your ability to borrow money down the line. This includes lower rates for mortgages, credit cards, loans and car finance.

Strengthening your credit score

If you have a lot of credit card debt and cannot keep up with the minimum payments, this alone could be destroying your credit score.

Having sources of credit in your name – whether that’s a mobile phone bill or a credit card – can be a good thing, but only if you regularly pay those bills on time. Missing or late payments can impact your credit score even you’re only late once or for a couple of days.

Credit Karma also adds you should be registered on the electoral roll if you aren’t already, as this helps your credit score. Plus, you should check your credit report regularly. If you notice irregularities or errors, reporting them and having them corrected can improve your credit report.

If your credit card debt is out of control and you are unable to make payments, consider seeking help. Charities like StepChange can advise you on how to deal with your debt and prioritise bills. They can also help you understand your finances so you can make better financial choices for the future. 

The post Unsecured credit all-time high as Brits go on credit card spending binge appeared first on The Motley Fool UK.

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The large majority of Brits have no clear idea of how much money they’ll need in retirement. Most don’t have a target number either and don’t know at what age they’d like to retire. Still, a surprisingly large number of Brits think they’ll “probably be fine” with a pension pot of about £355,000, according to financial planning and investment firm Sanlam Wealthsmiths.

For most Brits, however, this amount will fall way short.

How much money do you need?

A pension pot of £355,000 equals an annual income of just £13,000. This is actually lower than the average UK pension, which provides £15,080 per year. And it’s a lot less than the amount Brits say they feel they’d need per year in retirement, which comes at £34,000 a year. To achieve that amount, pension pots would have to be closer to £1 million.

Why are the numbers not adding up? Simply put, most people aren’t willing to do the maths. Others are not willing to make early decisions that would impact that number.

Why does age matter?

Until 2028, people can still access their pot as early as 55 years old (it will rise to 57 in 2028). But the earlier you retire, the more money you’ll need in your pension pot if your goal is to stop working completely. Somebody retiring at 55 and living until 81.2 (the average life expectancy in the UK), has a lot of years ahead that need to be covered by a pension.

According to the Pension and Lifetime Savings Association, those looking to retire at 55 will need £20,200 per year for a moderate lifestyle and £33,000 a year for a comfortable lifestyle. That will require a pension pot a lot higher than £355,000.

On the other hand, Unbiased points out that spending £40,000 per year (which wouldn’t be that hard to do if you wanted to travel or tackle big home repairs after retirement) would mean you need a £650,000 pension pot instead. That’s close to double what the average Brit thinks they would need to retire.

How much money will you have when you retire? 

If you aren’t sure how much money you’ll get once you retire, places like MoneyHelper have pension calculators available. Keep in mind that these calculators will give you a forecast of the likely pension income you’ll get once you retire. The numbers aren’t exact and might change if your contributions change along the way.

How can you boost your pension pot?

The easiest way to boost your pension is to put more money into it. You can take advantage of any salary increases to pay more into your pension or pay into a private pension. Or you can ask your employer if they will match your contributions.

You should also look into consolidating your pensions from different employers to save fees. But, more importantly, you should set a target retirement income. Knowing how much money you want and need in retirement will help you plan better. If you’re behind with your government pension pot, you can then also look into investments or private pensions to make up the difference.

The post Brits think they need £355,000 to retire – but they’re wrong appeared first on The Motley Fool UK.

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There’s no better time than the end of the year to review your finances and come up with some new strategies. After 12 months of paying off debt, saving or investing, now is the time to take a closer at what worked and what needs adjustments in the year ahead.

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Your year-end financial checklist

Get 2022 off to a flying start with these five valuable tips to improve your financial health.

1. Do an end-of-the-year review

How did you do in 2021? If you had a budget, how well did you stick to it? If you didn’t, identify the areas where you did poorly and need to come up with a better plan.

How do your savings look compared to last December? Is your emergency fund still intact or do you need to work on building it up again? Did you accrue or pay off credit card debt? If you haven’t checked your credit report recently, do so to see how things look. Now is the time to correct errors if you spot any. 

2. Plan for large expenses coming up in 2022

If the pandemic has taught us anything, it’s that sometimes you don’t know what’s around the corner. But there are definitely things you can plan for. This could be anything from large home renovations or a major purchase to a wedding or a long-overdue holiday abroad.

Whatever you’re hoping to achieve in 2022, if it’s going to require money, now is the time to plan for it. Will you need a loan for it? If not, how much do you need to save for it?

3. See where you are in your debt journey

The average credit card debt of households in the UK is currently £2,033. This is down from £2,592 last year and marks a healthy decline due in part to people not being able to spend so much during lockdowns. 

But with many people ready to spend again, now is the time to deal with your debt before it climbs back up.

Make a list of all your debts, including their balances and interest rates. If your credit score is decent, consider switching your debt to a new card with a 0% introductory period to save on fees. Otherwise, create a monthly repayment plan that you can afford to help lower your debt in the new year.

4. Make one top financial New Year’s goal

There’s nothing wrong with setting several New Year’s resolutions, but pick one financial goal as your main one –whether that’s to start investing, pay down your credit card debt or save a certain amount. If things get difficult financially at some point, you can always focus on your main goal for a while until you can rearrange your budget. 

5. Review your investments

Check your investment accounts to review how things have progressed during the year. Could you increase contributions to your retirement accounts next year? What about starting a separate investment portfolio in 2022? There are a number of trading platforms that make it easy to invest, even if you’re a beginner. 

The post Your essential year-end financial checklist: 5 tasks to get you ready for 2022 appeared first on The Motley Fool UK.

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Minimalism has gained a large following over the past few years, partly thanks to The Minimalists’ Joshua Fields Millburn and Ryan Nicodemus and their popular documentaries and podcast. While minimalism often brings up images of living in a sparse house with few possessions, the movement has grown to mean a lot more.

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For me, minimalism started with a journey into decluttering and just owning less stuff. It has since grown into a goal of living a more intentional life and managing my finances better. 

Living a meaningful life

Minimalism isn’t necessarily about having fewer things, but instead about only having the ‘right’ things. That means owning things that have a defined purpose and provide meaning to your life. When you embrace minimalism, you no longer buy things because you’re bored – each item you shop for has a purpose and a place in your life.

This has a direct beneficial impact on your finances. The less you shop, the more money you get to keep in your bank account. 

Being more intentional with my spending

The shift in my financial thinking started during my decluttering process. I was shocked and disgusted at how many things I owned that had never been used or used once and then dumped in the back of a cupboard. As I was decluttering, I ended up donating, recycling or throwing away a lot of things. 

This meant a lot of money wasted – money I could’ve saved, invested or even spent on bigger things I thought I couldn’t afford, like an overseas holiday.

This is where my journey into financial minimalism started.

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Everything I now buy serves a purpose

I used to be one of those people who bought several little souvenirs and knick-knacks every time I travelled somewhere. None of those frivolous little purchases meant anything once I was back home. And to be honest, I often resented all the magnets or little trinkets cluttering my fridge or kitchen drawers.

I now bring back ‘souvenirs’ that have an actual purpose in my home. Last summer, I bought a curtain for my small kitchen window at a little flea market in Austria and brought back pizza spices from Italy.

Let’s be honest, you don’t need all that stuff

Like most people, I started my journey into minimalism by getting rid of stuff. This included clothes I had not worn in years and sports equipment bought under the misguided hope I would one day take up cross-country skiing. 

Then there were the less obvious, harder to discard items I had paid good money for. A juicer I was using on average, twice a year. A few pieces of exercise equipment I bought before I realised I don’t have the discipline to exercise at home.  

I managed to sell a lot of the bigger items when I started decluttering. Last year alone, I made over £2,000 selling unwanted items through apps like Vinted, Depop and Preloved. I saved thousands more by not buying unnecessary stuff anymore. 

It’s easier to budget if you have fewer expenses

Part of my decluttering journey included my digital life too. Back in 2020, I used to subscribe to five streaming apps –some of which were ‘accidental subscriptions’ because I forgot to cancel the free trials. I don’t have time to watch that much TV and I don’t even want to. I now only subscribe to Netflix. 

The lockdowns also resulted in closures of many of the services I used on a regular basis, including my gym, cinemas and my favourite restaurants. This saved me money in additional ways. I spent less on petrol to drive to places, I didn’t renew my gym membership for one full year (I took the dogs hiking a lot instead) and I cancelled loyalty cards that had an annual service fee. 

I also downsized on unexpected things, like bank accounts. Now, I have a single current account and a single savings account (with the same bank). This makes it easier to comply with the account requirements to keep everything free and it’s a lot easier to keep track of my expenses and maintain a budget.

I stopped rewarding myself all the time

We all need a little pick me up sometimes, but that doesn’t mean having to constantly indulge in purchasing things. Minimalism is about maximising the value of what you own, not buying yourself something new every time you feel sad or stressed.

I saved a lot of money this year by not buying things that didn’t make sense in my current life. This included beautiful high-heeled boots that actually hurt my feet and a sophisticated watch that was never going to replace the Fitbit I’ve got used to wearing all the time anyway. 

The best thing about starting this journey? Not only do I have more money, but also a lot less stress. 

The post How minimalism made me £5,000 richer this year appeared first on The Motley Fool UK.

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Covid-19 has pushed millions of Brits into financial peril, and many have resorted to cutting back on essential spending (33%) or taking on more debt (16%) to deal with it, according to a report published on Forbes.–

But 2021, referred to by many as ‘the year of the loan’, has seen many Brits take out loans for other reasons. Rather than borrowing to keep up with basic expenses and cover bills, Brits turned to loans to indulge some more personal wants.

Borrowing grew significantly compared to last year

Research from established lender Evolution Money shows that the number of loans taken out has grown by over 40% since this time last year. The loan amounts themselves have also grown. Brits are now taking loans that are 31% higher than those they were taking just a couple of years ago.

In January 2019, the average loan taken out was £13,000. Last month, it was £27,000.

What are Brits borrowing money for?

Despite the impact of Covid-19 on the economy, the top reasons for borrowing money this year has had nothing to do with basic needs. In fact, according to Evolution Money, the main reason for taking out a loan has been to buy a new car.

Tied in second place are loans to help with a house move and to pay for a new qualification that could help boost future earnings. Tied in third place are loans for a holiday or home renovations. A smaller percentage of Brits have taken out loans to cover the cost of Christmas.

Millennials (25-34-year-olds) are borrowing more money for non-essentials than anybody else. This includes going on a holiday or buying Christmas presents. Older generations have been just as likely to indulge themselves with their loans, but their choice has been to tick something off their bucket list or make home improvements. 

Should you go into debt for non-essential items? 

“Taking out a loan is not something to be taken lightly and must always be done responsibly,” says Hannah Dearden, operations marketing executive for Evolution Money. “For those who do their research and are confident they can pay the money back, a loan can be a positive decision for people to make.”

Still, taking out a loan is always a risk, especially in uncertain times. 

Before you take out a loan 

Take a good look at your finances before you borrow money for something that is not essential. If you don’t have an emergency fund in place, have high debts or are in an uncertain situation because of Covid-19, borrowing money for something like a car might not be the best choice. 

Look for the right loan 

Even if you feel you’ll be able to afford the monthly repayment, spend some time shopping around for the best possible interest rate. And don’t let lenders push you into taking a bigger loan than you need. 

Check your credit score 

Your credit score will impact not only loan approval but also the interest rate you’re offered. If your credit score is poor, spend some time working on it before you apply for a loan. Reporting mistakes on your credit report and repaying existing debt can significantly improve it.  

The post More than 1 in 4 Brits took out a loan in 2021 – but not for the reasons you think appeared first on The Motley Fool UK.

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Around 23 million Brits made New Year’s resolutions for 2021 – though research suggests most of those resolutions will only have lasted about seven weeks.

According to Sarah Coles, senior personal finance analyst for Hargreaves Lansdown, “The New Year is a time for optimism and making plans to put our finances right.”

So what are Brits’ top financial priorities for the year ahead?

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Brits’ top money resolutions

A recent survey of 2,000 people by Opinium for Hargreaves Lansdown suggests Brits are focusing on very specific financial goals for 2022.

1. Pay off debt

Brits’ most popular resolution for next year is to pay off debt, with 20% of people surveyed saying they want to focus on that first.

“At the moment, many of us are carrying Christmas debts, so it’s hardly surprising that paying this off is our top priority,” says Coles. Those with this resolution might also want to erase their credit card debt, which now averages £2,033 per household.

2. Save money on bills

Second on the list is “getting cheaper bills”, with 17% of Brits making this a priority. With energy prices surging across the UK, it’s no surprise Brits are worried about their utility costs.

3. Grow savings

Savings come in third place, with 15% of brits prioritising this area of their finances. This isn’t a very impressive percentage considering that one in four Brits didn’t save any money during lockdown and 35% of Brits say they save nothing in a typical month.

Financial experts recommend building an emergency fund to avoid getting into debt during difficult times, so this could be a great start. 

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4. Understand pensions

According to PensionsAge magazine, nine in 10 Brits don’t know what pension payments they are entitled to. In addition, 24% have no idea how to access their pension pots. With only 8% of Brits making a resolution to better understand their pensions, this might continue to be an issue for many.

As Hargreaves Lansdown points out – based on information from the Pensions and Lifetime Savings Association – a single person needs a pension income of £20,800 (including their State Pension) for a moderate retirement. For a more comfortable one, they need £33,600.

5. Save more for retirement 

After understanding where they are with their pensions, many Brits are hoping to put more money aside for their future. Right now, a quarter of Brits worry about not saving enough for retirement. More than half (58%) of those over 40 are worried that they won’t have enough for their golden years.

Even small extras sent to your pension pot can grow significantly over the years, so start now.

How to make your 2022 resolutions actually happen

Hargreaves Lansdown recommends spending some time before the year ends figuring out where you are with your finances. Then take a new look at your debt, pensions and savings. This will help you set specific new targets for the year to come. Examples include “Save £1,000 in an emergency fund” or “Pay off my credit card debt.”

If you aren’t very clear about what your finances currently look like, a budget could be useful. This will help you understand where your money is going and whether you can free up some funds to direct towards your New Year’s resolutions.

The post 5 financial resolutions Brits are making for 2022 appeared first on The Motley Fool UK.

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New research by independent job board CV-Library shows that British professionals are looking to expand their horizons. In fact, the survey shows that more than three quarters (76.4%) intend to look for a new job in 2022, with over half (57.6%) looking to re-skill or retrain next year.

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What’s pushing Brits to move on?

Changing jobs or retraining in the hope of promotion are major driving factors according to the survey. Still, the majority of workers (43.1%) cite wanting or needing a career change as their main reason for retraining in 2022. Many (41.3%) are looking for a higher salary, while 40.7% say they would’ve been ready to make a change earlier but the uncertainty of the pandemic delayed an inevitable decision.

Earlier this year, a survey by recruitment firm Randstad UK found similar results. Of those polled, 69% said they were ready to move on to a new job. The report concluded that the pandemic encouraged many people to assess their situation and conclude that they were ready to pursue a better life-work balance.

According to the CV-Library poll, other reasons cited for wanting to change jobs include more flexible working opportunities (38.9%) and burnout (33.2%). Only 10% listed ‘wanting a promotion’ as one of their main reasons for searching for a new job.

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What can employers do?

According to Lee Biggins, CEO and founder of CV-Library, the combination of confidence slowly building in the UK economy and the pandemic triggering people to re-assess their lives has created a perfect storm in the job market.  

He explains, “The good news is that employers can take action to prevent increased staff turnover. Offering top salaries is the obvious choice (57.3% said it was one of the main reasons they would remain at their current job), but there are other things to consider as well.”

According to the survey, 42% of workers want employers to invest in training and 35% want remote working opportunities.

Other things employees think their bosses should focus on in 2022 to retain staff:

• Promotion prospects (19.9%)
• Good sick pay (16.9%)
• Staff perks (15.9%)
• A top pension (15.2%)
• Embracing diversity (10.1%)

The pandemic has changed work priorities

The flexibility of working remotely has become one of the most requested job perks in the past two years. A YouGov survey from April 2021 revealed that 57% of Brits wanted to continue working from home after the pandemic. This is an eye-opener for many workers, as 65% of people had never worked from home before the pandemic.

Perhaps more interestingly, four in 10 Brits who want to work from home, want to do it from abroad. Research shows their top reasons are better weather, a chance to travel and boredom. But 45% cited the lower cost of living as their reason for wanting to work from home from abroad. This coincides with recent research that shows that working from home can save you up to £1,500 a year. 

If you’re considering changing jobs in 2022, start by creating a list of priorities. List what you want in a new position in order of importance and make sure you bring that up during interviews. With the UK job market booming at the moment, your chances of landing the job of your dreams have never been higher. 

The post New year, new you? Over 75% of workers plan to look for a new job in 2022! appeared first on The Motley Fool UK.

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When it comes to finances, it’s the subtle changes that often hurt your bank account the most. You spend a little more here and a little more there without even realising it, and suddenly hundreds of pounds are gone. These are pounds that could be serving a much better purpose in your retirement account or even as part of an emergency fund.

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So what exactly is lifestyle creep?

Have you noticed that every time you receive a pay rise, your life suddenly becomes more expensive? All those things you once considered luxuries start to become must-haves as you find yourself in a better position to afford them. Or maybe you start telling yourself you ‘deserve’ this or that because of how hard you’ve been working. This is exactly what lifestyle creep – also known as lifestyle inflation – is all about. You steadily upgrade yourself to a more expensive lifestyle, likely without even realising it.

The changes often start very small, according to Investopedia. You begin eating out twice a week instead of once, or you start going to more expensive restaurants. Then, you decide to replace your car sooner than you need to or start thinking about moving to a bigger house.

For many, lifestyle creep could come from moving into a new, wealthier social circle. If you don’t have the money to back up the new lifestyle, it could lead to you accumulating debt. The average credit card debt per household in the UK is now £2,033. At an average interest rate of 20.65%, accumulating extra credit card debt for luxuries could cost you dearly in the long run. 

Why is lifestyle creep so bad?

Simply put, any money you’re spending is not being saved or invested. You might not think that the extra £100 a month you’re spending on an upgraded lifestyle amounts to much. But once you consider compound interest over a period of years, that money could have been worth thousands in the long run.

The danger is even bigger for older professionals. The closer you are to retirement, the chances are you are also at the peak of your career. This means a bigger salary, annual bonuses or opportunities to get bigger raises. Ideally, any extra money should be going towards your pension pot, not towards luxuries. 

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Preventing lifestyle creep

The best way to stop lifestyle creep from eroding your bank account is to have a plan. If your wages are about to increase or you’re expecting a bonus, sit down to figure out a new budget. This will help you avoid impulse spending.

Next, decide on a monthly allowance for luxuries. If your monthly wages go up £300, give yourself permission to spend £100 and allocate the rest to either savings, investments or paying off debt. Spend that £100 on treating yourself rather than ‘upgrading’ your lifestyle.

For example, if you decide to switch to a more expensive gym or hairstylist, you’re automatically signing up for an ongoing upgrade. The problem is that this could soon stop feeling like a treat, so you might still be tempted to spend on other treats. If the pull to have some ‘fun spending’ is too great, give yourself permission for some extra celebratory treats the first month you receive the bigger paycheck. Then quickly move to your new planned budget that includes lots of saving and investing. 

The post Is ‘lifestyle creep’ sabotaging your bank balance? appeared first on The Motley Fool UK.

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The average Brit moves house 5.5 times over the course of their lifetime. And while moves come with their own stresses related to organising mortgages, arranging surveys, packing and unpacking, there is also an additional type of stress many ignore: high costs. Here’s a look at the costs involved and what you can do to reduce them.

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Moving isn’t cheap

According to MoneySuperMarket, Brits spend an average of £748 each time they move house. For those moving the average 5.5 times, that means £4,116 in costs that include buying new furniture (55%), purchasing new household items, such as bedding and kitchen utensils (53%), paying for the post to be re-directed (42%), and changing bill providers (36%). This is 12% more expensive than it was last year when lifetime moving costs averaged £3,417. 

The research also shows that there could be costs to consider when moving house than many people realise. Jo Thornhill, money expert at MoneySuperMarket, explains, “If you are considering moving, factor in things like cleaning, new household items, temporary storage space, and professional movers.  

“It’s also important that you have contents insurance before transporting your items to their new home. Most policies will provide cover for your belongings against damage or loss while they’re in transit from one property to the next,” Thornhill adds.

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Moving costs vary greatly between cities

Some cities are more expensive than others when it comes to moving costs. Moving house in and around Aberdeen will set you back about £1,020 in 2021. That’s more expensive than moving within London, where the average cost of a move is around £854. In cities like Leicester and Portsmouth, moving comes out much cheaper to around £600.

Reducing the cost of moving 

You can’t make your moving experience completely free, but you can certainly cut costs here and there. Here are five ways to keep moving costs under control:

• Purge like crazy. The more stuff you have to move, the pricier it will be. It’s never too soon to get rid of excess clothes, furniture that needs to be replaced anyway, books and anything you don’t have a real use for. Consider selling things before you move to save money and put that money towards your moving costs.
• Hire a man with a van rather than a big moving company. Larger companies tend to outsource the work anyway, and you end up paying for a middle man you don’t need. That said, more established moving companies might be a good idea if you have very expensive, valuable items (like crystal lamps or a piano) as these companies tend to be insured.
• Try to negotiate a discount. Some movers will charge you less if you book well in advance (think two months, not two weeks) or if you pack everything yourself.
• Drive yourself to your new home if you can. This way, you could take valuables and fragile items with you and you won’t have to worry about paying extra to insure them.
• Be flexible with your moving plans. It’s usually more expensive to move during the summer or on the weekends. If you’re using a removal service, ask if they offer discounts for off-peak moving times.

The post Brits spend a whopping £4,116 on house moves over their lifetime appeared first on The Motley Fool UK.

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