Personal finance savings for contractors

Posted on 26 June 2008

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Contractors can increase their profit margins by adopting a stricter approach to their personal finances, it has been claimed.

According to internet resource site Contractor UK, savings can be made by making a few small lifestyle changes.

It is claimed that comparing prices on the internet can prevent contractors paying over the odds on commodities such as energy, while scrutinising and even switching bank accounts can provide a clearer financial focus.

Seeking the best credit card deal is another tip, with the site suggesting that many of the zero per cent interest deals have annual charges hidden in the small print.

For those owing larger sums on cards or loans, taking out a cheaper consolidation loan is suggested as a sensible move.

Savings can also be made by comparing broadband providers to search for the cheapest rates, while monitoring energy consumption can help reduce business costs.

Media provider CBS reported today that small businesses are being especially hit as a result of the ongoing credit crunch.

Category: Contractor News

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