Preparing for Post-Brexit Britain: How You Can Become a Super Saver
Brexit has proven divisive, both in the UK and outside of it. With its long-term effects likely to ripple outwards and affect its many trading partners, as well as its domestic economy, lots of people have come to the same conclusion: that it might be a good idea to start preparing for any potential fallout.
It’s not just UK residents that would be impacted. While experts predict that a full-blown recession could be on the cards, it’s also believed that it will negatively influence various regions within the EU, with Ireland, the Netherlands, Belgium, Germany, and France most likely to feel the consequences. Indeed, even countries as far afield as America could be adversely impacted.
This means that it makes sense to have a plan in place – preferably, one that includes a financial safety net to combat any uncertainty or financial difficulties that come on the back of the UK’s exit from the EU.
With this in mind, here are a few handy tips to turn you into a post-Brexit super saver.
Draw up a preliminary budget
Budgeting is considered essential to good money management, but not everyone puts this theory into practice. There are very few of us who cut our costs as much as we feasibly could, but with the possibility of a no-deal Brexit looming, you’ll want to not only reduce your immediate expenditure, but identify any additional areas where you could decrease your outlay even further should this become necessary. With this in mind, we recommend that you spend some time drawing up a table of your incomings and outgoings, so you can work out what you could go without well in advance of it becoming a necessity.
Keep an eye out for more economical alternatives
Although UK PM Boris Johnson remains adamant that the UK will leave the European Union before the end of the month, the reality of Brexit remains little more than academic, but it’s unlikely to stay this way forever. Recession is a very real possibility, so even if you don’t want to go the whole hog immediately, you should already be looking to make small savings where you can. This doesn’t mean going without entirely; rather, it means swapping your Heinz baked beans for own-brand alternatives, and visiting comparison sites; for everything from travel, utility bills and iGaming. For example, in regards to online casinos, with a generous multistep welcome package, Dunder is a solid choice, giving you the chance to play the games you enjoy without breaking the bank, or sites like Compare the Market for insurance, and Trivago for travel.
Review your interest rates
One of the big difficulties with Brexit is that nobody can truly predict how it will affect the economy. This means that interest rates could do almost anything, either remaining low if the financial landscape worsens or rising along with inflation. However, there is one way to know for certain what your future spending on credit products will look like, and that’s by fixing your interest rates. Experts suggest that to safeguard yourself against what’s ahead, your best bets are to either switch to a lower rate or consolidate your debt so you can accurately plan ahead.
Isn’t it time you started making some changes?