Okay girls, for this issue we are going to challenge our monthly outgoings and stop those big profit making corporate organisations stashing our hard earned cash.

They are all profit making businesses. Regardless of advertising and claims in the media, they dont really care. They just pray on our weaknesses, use clever psychology because they want to make money.

Even though the UK is the largest consumer economy outside of the USA, we are all pretty unintelligent when it comes to finance. So let's get smart and challenge what and how we pay. We are the consumer after all!

• Does loyalty count? Not really. If you have been with your insurer for many years, chances are you won't be rewarded for it. A new customer with identical circumstances will get a better deal. It's a competitive market out there and companies will lure new customers to increase their market share. Check out internet sites like www.moneysupermarket.com who compare financial products. Take the figures to your insurer and demand a reduction or a better product. 
• No price is fixed. Pick up the phone. Challenge what you pay now. Tell them what you want to pay and if they say they cant do it, tell them youd like to go elsewhere. Most providers will try to keep you.
• Utilities prices have soared recently. Most of the big power firms in the UK have recently increased prices 15%+. Higher wholesale costs being blamed. Do some research and see if you can get it cheaper elsewhere. If not, maybe look at cheaper and possibly more environmentally friendly ways of keeping warm. Are you getting all the discounts and benefits available? If you live alone or are a single mum, make sure you are getting a discount on your council tax.
• This is probably the toughest bit of advice to swallow but the best way to healthy finances is to make sure your outgoings dont exceed your income. Gulp. As a single mum myself with two tiny kids, I know I struggle with that one. You can never really anticipate every penny so my final piece of advice is to stash a bit of cash each month! 

In the next issue, Ill be looking a good debt versus bad debt and how we need to educate kids on finances. Sometimes I wish my maths teacher had taught me how to invest in the stock market.

Lottie gleaned this practical advice from life experience!  It works!!