Have you ever stopped to think about your statistical chances of winning before throwing down your hard-earned cash? Once you realise the true probability of making money or even just getting your stake back, you might think twice before placing your bet.

Probability Of Winning The Lottery

According to Camelot, approximately 70 per cent of the adult population in the UK plays a game on The National Lottery, with the average spend at £3.15. The chances of a person making a profit are extremely slim.

Lotto, the most well-known draw, is renowned for offering impressive jackpots, usually in the multi-millions. You might think that it’s worth a pound for a punt, but the probability of you picking the six numbers is one-in-13,983,816.

Even the likelihood of winning the smallest prize of £10 is slim – the chance of you matching up three numbers is one-in-56.7. If someone presented you with 57 envelopes with a £10 note in just one, would you pay £1 so that you could try to find it?

Scratchcards are often placed by store tills, tempting you with the chance of big prizes. The National Lottery boasts that there are five winners every second, but this seems less impressive when you think about the thousands of people who purchase them across the country.

A £1 scratchcard currently on the market called Money Spinner offers you a one-in-12 chance of getting your money back. The likelihood of winning £100 is one-in-23,905, and the chance of scoring the top prize of £8,000 is a tiny one-in-2,110,784.

Trying your luck at the casino

While you might spend a few pounds a week on the National Lottery, heading to the casino can be more dangerous. Here, you could be tempted to put down huge sums of money in the hopes of claiming a big win.

So what are the odds that you will take home more than you started with? You might think your chances are good if you head to the roulette table – known as a game of pure chance – but the fact is that the house has an advantage every time you put down chips. Put your money on a single number and you have a one-in-36 chance of winning 35-times your stake back.

Your luck at games like poker and blackjack depends somewhat on your skill, but you should always look around you and think about how the flashy casino is being paid for. Never risk losing more than you can afford, and get in touch with GamCare if you’re worried you have a problem.

A flutter at the races

You might think that the odds presented at a racecourse directly correspond to your chances of winning, but, of course, bookmakers must factor in their profits. You must always be cautious about the money you wager, no matter what knowledge you have or how lucky you’re feeling.

Horse racing is renowned for having some of the most unpredictable results, and this means that you can lose money on a runner thought to be a dead cert. When favourites so often fail, is it worth putting £10 on at 1/2 for the chance of profiting a measly £5?

Betting on bingo

Bingo used to be the pastime of older women in halls up and down the country, but the online variety has become extremely popular in recent years, and the demographic has broadened. Many people have found themselves facing bankruptcy as a result of addiction to these websites.

The chance of getting a line or a full house depends entirely on how many cards have been bought. If 1,000 players have an average of five cards each, there’s a one-in-5,000 chance of a particular one winning. The prizes are unlikely to make this gamble worthwhile.

The real draw is in the jackpots – these are usually awarded if you get a full house within a certain amount of numbers being called. Some websites are offering a £50,000 prize to 90-ball bingo players who match all 15 numbers on their card within 40 being called – sound generous? The probability of winning this jackpot is smaller than one-in-a-million.

Remember: Betting is a gamble

The important thing to take away is that all betting providers are out to make a profit. There is no certain way to make money when gambling, so don’t be eager to spend all your cash because of a tipster or a pair of lucky pants. Never spend more than you can afford, and remember that there is often a miniscule chance of taking home a jackpot win.

After working through an IVA with http://www.debtfreedirect.co.uk/ Stef now writes money saving advice articles to help others avoid getting into the same level as debt as she was in.

Second Hand Products can be Profitable

Many second hand books can be valuable when sold on an auction side like eBay or Amazon. Download a free ISBN scanner to determine what the price of a book is in a second hand store or charity shop. Many books are sold for less than a pound, but can be sold for a hundred percent profit. However, be discreet. The same can be done for used DVDs, some of which can be purchased for as little as £0.50 pence in second hand stores or pound shops.

Bargain Hunting at Car Boot Sales or Charity Shops

If you are knowledgeable in the areas of action man figures, Mexican silver or fine china you may be able to bag a fantastic item at a low price and sell it online for a profit. Gemstone jewellery is also a good investment if you can buy it at the right price. Garage sales are a great place to pick up a bargain.

Incredible Deals at Police Auctions

Many items are handed into the Police station and never picked up by their owners, which means that these items are sold at auction. Many items of jewellery can be purchased at a good price and can make you a tidy profit.

Ratty or Bruised Furniture

You may have an eye for quality furniture that does not look its best. This is a great way of making money as it may be carved from an expensive wood and only requires a refinish. Invest in sandpaper and wood stain and get the piece looking brand new, which will make it look attractive and more likely to sell.

Rescue Battered Wood

If you find cheap (or free) pallet stock at a construction site or situated around a building under renovation, kiln dry the pieces to restore them back to their former beauty. Advertise this as reclaimed wood, which will raise its value significantly. Alternatively, it can be carved into stylish furniture.

Medical Study Participation

There are always new drugs that need testing before they are safe for public use and medical study participation can be a good way to make some extra money. Browse some medical websites to discover more. There may be set guidelines, for example some studies look for subjects who have suppressed immune systems, are on a contraceptive pill or smoke. Some studies can pay up to several thousand pounds.

Focus Group Study

Some websites look for subjects who can participate in a study on a variety of subjects, including shopping, cosmetic surgery or slimming. You will have to sign up to the website and register your interest; however, these studies can pay up to £50 per hour.

Manipulate Profit on the Currency Market

Forex is a good way to make a profit, if you desire to learn about currencies. However, the currency market changes every second and is very competitive. However, do your research and learn about forex to gain the best chance of succeeding.

Advertise on Your Car

Some companies will pay you for advertising their product or service on your car. This is called car wrapping and could land you with an extra hundred pound or two each month.

Sell Photographs - Legal Ways To Make Money

If you have a decent camera and a good eye for detail, you could make extra money from photography. You can set up your own website and advertise your pictures with a watermark, which will be removed upon purchase, or there are photography websites where you will be able to sell your photographs for free and pay only a small percentage of your sale to the website owner.

Sell T-Shirt Designs

If you are a good artist and like to draw, why not consider uploading your art to a t-shirt designer where you can make a sale when your design is used. Some great examples of such websites include CaféPress or SpreadShirt.

Kay Brown is a writer who is always on the lookout for new and innovative ways to make money. She believes that learning about forex can be profitable but there are other smart ways to invest. Image source: Ashanti Furniture

In the UK alone there is over one million worth of personal debt. That’s a lot of money and many households across the country spend their monthly earnings paying off various payments, when they could pay the debts back faster and start saving.

So where do we waste our money each day and every month?

TV Subscriptions

One of the major ways to waste money is on TV subscriptions. TV companies offer various packages and you pay a good amount of money each month towards having a wide selection of TV channels.

How many of the channels do you actually watch? Recently I dropped my TV package and saved almost £20 a month. I realised that I wasn’t watching even half of the channels I had been paying for over many years and there were only a few select channels I enjoyed.

Dropping the package is giving me a £240 saving each year that money can be put towards some of the repayments made on debts each month, bringing them down quicker. You’d be amazed how £20 over and above a minimum payment on a store card can bring the balance down faster.

Pub Nights

Visiting the pub is a way of life in the UK. It’s a traditional thing and everyone does it. The minute you turn eighteen you visit the pub on a regular basis, for some they visit more than others.

Being in the habit of visiting the pub more than twice a week can put a serious drain on finances. It’s easy to spend £20 or even £50 a night at the pub, having a few drinks with friends.

Imagine visiting the pub twice a week and spending £100 for the week, while the landlord probably loves you, your finances don’t. Cutting back to one night out a week can save you over £2,000 each year; can you imagine how quickly you could repay your debts with that?

Bottled Water

Down here in the south of England our tap water isn’t the greatest and I was spending about £2 a day on bottled water, using it in the kettle to make tea and as drinking water.

That was £14 a week I was spending just on water, excluding the actual tea, sugar and milk.

There are water jugs you can buy which can help you save a fortune if you live in an area you cannot drink the water. Paying for the water jug is less than two weeks’ worth of bottled water and the filters are affordable, overall I am saving around £12 a week by using a jug for water, that’s a saving of over six hundred pounds each year, money I can use to repay my debts.

Lavish Restaurants

Going out for dinner with friends is a great way to relax and unwind after a hard week at work. Restaurants are expensive and you can easily end up spending over £100 for two people at a restaurant in one night.

Keep your going out for dinner nights to a minimum, try and cut back to only once or twice a month rather than a few nights a week. It’s easy to cook a good meal at home and entertain at home on a minimum budget. You can save yourself a fortune each and every month.

Use Your Wasted Money Wisely

Once you find where you are wasting money and you make necessary changes, you’ll realise you have money over when you do your budget. Don’t stick to your regular routine when paying your bills at the end of the month, take some of the money you are saving and put it towards one of the bills to help reduce the balance and get your debts paid off quicker.

As a financial blogger, Abel Froman enjoys finding ways to save money to use towards paying off debt. She suggests using Madison Financial  who offers friendly financial advice to help you get your finances back on track.

Coming Up with a Feasible Budget

The budget has always been used as one of the best solutions to cut down on expenditure hence leading to income saving. It is important to always budget for the needed items at least one month prior to the purchases, this allows the shopper to look around for the best bargains both in retail outlets as well as online. The budget should contain what is necessary and not what is desired, this does not mean that a shopper has to completely keep off from engaging in a bit of luxurious spending, only that it has to be done in moderation. For instance reducing the frequency of take out dinners or choosing a less expensive restaurant.

Being On the Look Out for coupons

Coupons and shopping vouchers present another avenue for money saving tips. Coupons always come with discounted prices on special items or special prices if shopping is carried out in selected stores. Having prior knowledge of where to get the coupons is always the challenge since the vouchers may be made available online by the marketers or manufacturers can be acquired directly from a retailer, may be found inside print media or can be part of product promotion. The coupons also come with an expiration date thus it is necessary to properly account and safely store the vouchers until when their use is required.

Membership to Wholesale Merchandise Stores

Wholesale shopping outlets always offer discounted prices on all the items sold in the store since the items are sold in bulk. The wholesale stores will more often than not require a shopper to register as a member of the store and thus enjoy the shopping benefits. A member is thus able to purchase any item from the store as long as it is done in bulk or in wholesale and enjoy a substantial saving. The largest margin of saving will be achieved by doing a one off bulk purchase probably once a month rather than breaking it down to weekly purchase.

Consolidating Credit Cards

Credit cards are without a doubt the leading cause of debt; this is attributed to the ease at which one can acquire a credit card. Credit cards always lead to impulse buying while at the same time attracting high interest rates, it is therefore important to consolidate all the credit cards into one card. This makes it easier to monitor and account for expenditure as opposed to having many credits which have different rates of interests, different due dates hence leading to forfeiture of payments due to forgetting or delayed payments.

The writer of the article loves writing about different topics, apart from article and academic writing, the author is also an adventurer very much involved in nature. Road trips, sports, mountaineering and auto mechanics are some of the author’s hobbies.

So it really pays to start thinking about how you can make your money work for you as early as possible. There are a number of ways you can deploy your funds in order to make them grow, but choosing a way which works for you really depends on your personal circumstances.

Here are the main options to consider putting your money to work:   

Invest

Buying shares in a company can be a good way of making your money grow. Investing in companies isn’t an elitist business any more, or something which only financial experts with five figures to spare can do. Those with just a few hundred pounds can take the plunge, and some companies even offer the option of buying shares at reduced rates to their employees, as an incentive to invest. But do be wary, and do your research – while the rewards can be potentially very high, the losses can also be extremely damaging. Buying shares is a high risk business, especially if the company you’re investing in is a fledgling, or dealing in an industry which is susceptible to decline. As an amateur investor, limit what you put in, and if you’re not sure, choose a safer place to put your money. 

Property

Property prices have fluctuated over the past few years, but investing in houses and letting them out to tenants remains a viable option for those looking to get more out of their capital. Due to rising and falling prices, buying property also comes with a certain amount of risk involved, and as an owner you would be responsible for maintaining it – which could entail further costs. But, if you already own your own home, and you’re lucky enough to have money to spare to start a mortgage on a second, buying and letting property is a good way of getting a steady return on your investment.

Pension Schemes

In the past, pension schemes have been a risky business, due to companies failing and going bust. But thanks to the new workplace pension programme set up by the government, pension plans are now a much more stable option. If you don’t have a lot of ready capital but do have a steady income, and if you’re searching for a low risk return on your saved money, then a workplace pension plan is certainly worth looking into and talking to your employer about.

ISAs 

Savings accounts are arguably the safest place to put your money in these unpredictable times. Depending on how much you can afford to put away each month, there are a number of varying products available on the market. If you’re looking to make life more comfortable for your children when they leave home for instance, then a Children’s ISA will undoubtedly be the best course of action.

Image source: 1

This article is written by Adam who works for The Childrens ISA in the UK. The company offers many services for people who those who are looking to save for their child’s future.

This article appeared in the May 2013 ASX Investor Update email newsletter. To subscribe to this newsletter please register with the MyASX section or visit the About MyASX page for past editions and more details.

What the charts say about key financial indices and the big banks.

1.  Use your clothesline.

This might seem like an outdated way to do your laundry, but driers are one of the most energy-hungry appliances in your home. If you do one or more loads of laundry per day, you can save a significant amount of energy by hanging your laundry out to dry. Plus, your clothes will smell great!

2. Turn down your water heater.

Set your water heater to 120 degrees Fahrenheit or below and you could see a reduction on your next electric or gas bill. This is also recommended if you have children to prevent accidental burns.

3. Turn off appliances when you leave the house.

You probably won’t want to unplug the fridge before taking a weekend road trip, but you should turn off computers, cable/satellite receivers, air conditioners or space heaters, and other non-essential devices that you would normally leave on. Turning off these gadgets before you go to work can save energy throughout the week too.

4.  Get rid of extension cords.

Extension cords increase your energy consumption, especially if you use them all the time. The farther electricity has to travel, the more powerful the surge must be to power your electronics. If you have an appliance plugged into an extension cord, find a closer outlet or move the appliance. If you absolutely must use an extension cord, use the shortest one possible to minimize the distance the electricity has to travel.

5.  Replace your bulbs.

Energy savings light bulbs are more expensive than regular incandescent bulbs, but they’re worth every penny. These bulbs use significantly less energy than their predecessors; they also last a lot longer. They do take longer to “warm up”, and if this bothers you simply leave one old-fashioned incandescent bulb in the light fixture to provide instant lighting while the energy savers reach full capacity.

6.  Unplug your cell phone charger.

Phone chargers continue to siphon energy even after your wireless device is fully charged. They even pull energy from the outlet when they aren’t plugged into a device, so unplug them when your phone, tablet, or laptop computer is charged.

7.  Turn the heat down (or the AC up).

You probably won’t notice that your house is 2 degrees cooler than usual, but it could amount to big savings on your utility bill. Of all 10 ways to save energy in your home, this trick probably provides the best savings for the least amount of effort.

8.  Use your toaster oven for baking.

Instead of heating up your regular oven, which uses tons of energy and warms the whole kitchen, use a toaster oven to bake cookies, personal pizzas, and other small-to-medium-size dishes. They’re smaller, so they use less time and energy to heat up and cool down.

9.  Use timer switches to turn off appliances when you aren’t there.

Do you switch on your flood lights or porch lamp before going to work? Instead of leaving it on all day, install a timer switch and set it to come on when the sun goes down. This will conserve electricity as well as light bulbs.

10.  Hang insulated curtains.

Also called thermal drapes, these energy-saving window treatments will keep heat from escaping through your windows or patio doors. They come in a wide range of styles, and if you’re not into drapes you can also purchase insulated roller shades or Roman blinds.

Using any of these 10 ways to save energy in your home will lower your utility costs and decrease your carbon footprint. Using all 10 can add up to real savings on your electric and gas bills, and you will feel great about making positive changes around your home.

Discrimination can take many forms, which is why I have put together a guide to signs of abuse or victimisation at work. You can also get a lot of information on victimisation at work from the Citizen’s Advice Bureau.

Sex discrimination

If you are being treated unfairly at work because you are a man or because you are a woman, then this is classed as sex discrimination. This can be done directly or indirectly and can be harassment or victimisation.

There is also such a thing as positive discrimination – for example, it is equally as discriminatory if a women are favoured for one particular role because they have been treated unfairly when they have previously applied for the role.

It is also illegal to discriminate against people if they are pregnant, if they are undergoing gender reassignment, if they are married or in a civil partnership or because of their sexual orientation.

Racial discrimination

Racial discrimination is when you are treated unfairly because of your race, or it could be because of the race of somebody that you’re connected to i.e. your partner.

Race isn’t just classed as the colour of your skin, it is also classed as nationality, citizenship and national or ethnic origin. As with sex discrimination, racial discrimination can be direct, indirect, harassment or victimisation. Discrimination of this kind is not always done intentionally, but even if it is done intentionally it is still discrimination.

Age discrimination

It is against the law to treat somebody unfairly for being too young or too old, unless you have a fair reason to. It is also against the law to be treated unfairly because of the age of somebody that you know, for example if you are treating for an elderly relative and you are treated unfairly, this is age discrimination by association. It is also discrimination if you are treated unfairly because an employer thinks you are a certain age, even if you’re not.

If people treat you unfairly because you have a disability, this is disability discrimination and should be dealt with.

Becky approached SME solicitors, who deal with employment law in Redditch, after she was treated unfairly at work because she had to care for an elderly relative. 

On 1 January 1991 the State Bank of Victoria (SBV) was merged with the Commonwealth Bank.  The Group remained a Government owned enterprise until the conversion of the Bank into a public company with share capital on 17 April 1991.  The Commonwealth Bank was privatised in three stages:

• In July / August 1991 an offer of newly issued shares in the Bank was made to the public.  230 million shares, comprising 30% of its voting shares, were issued on 12 September 1991 at an issue price of $5.40.
• In October 1993, the Commonwealth Government further reduced its shareholding in the Bank to 50.4% of the total number of issued voting shares. 178 million shares were listed on 1 November 1993, at an issue price of $9.35 for retail investors and $9.60 for institutional investors.
• In July 1996, the Commonwealth Government made a public offer of its remaining 50.4% shareholding in the Bank.  In conjunction with this offer, the Bank agreed to buy back 100 million shares from the Commonwealth Government.  The buyback price was $10.01 per share, with the Bank paying the Commonwealth Government just over $1 billion.  The public offer and buyback were completed on 22 July 1996.  The Government’s public offer was for 399 million shares.  Investors paid $6, with the remaining instalment of $4.45 being due on 14 November 1997.  Investors were entitled to the three dividends payable in the intervening period.

Best Place to Buying Groceries On A Budget

You might simply go to the store you pass on the way home, but putting more thought into where you shop could have a significant impact on the associated spend. Research from Quidco shows 44 per cent of families are changing supermarkets in attempts to make savings.

Moving from major brands such as Tesco, Asda or Sainsbury’s to a discount alternative, such as Aldi or Lidl, could be a great way to reduce the expense of groceries. Although you might not get household name products, there are affordable, high-quality foods and drinks available.

You could also make considerable savings by picking up fresh produce from the local market. Meats, fruits and vegetables all tend to be cheaper here, and you might even be able to barter with the seller. Cupboard items such as crisps might be cheaper in pound stores.

Rewards Schemes - Buying Groceries On A Budget

Shopping with a major brand supermarket can be much cheaper if you take advantage of a rewards scheme. Tesco’s Clubcard is one of the best, allowing you to accumulate points every time you shop and exchange them for vouchers to redeem in-store.

You can even swap your points for vouchers at other retailers, sometimes for four-times the value. For example, you can build a balance of 250 points by spending £250 on Tesco groceries, and exchange them for £10 of Bella Italia vouchers through the Clubcard website.

If you prefer to shop at Sainsbury’s, then you should make sure to apply for a Nectar card, which works in a similar way to the Tesco scheme. You can collect two points for every £1 you spend in-store, and then trade in a balance of 500 for £2.50 off your shop.

Get Cashback

You can make savings on your groceries by taking advantage of TopCashback’s Snap & Save or Quicdo’s Clicksnap tools. Customers can take advantage of special offers at a number of stores simply by sending in a photo of their receipt.

Offers currently available include 45 pence cashback on a six-pack of eggs and 35 pence back on a box of cornflakes. You could also receive a commission on your entire shop by clicking through to an online supermarket through a cashback site.

Take Advantage of Coupons and Vouchers

Before making a trip to the supermarket, look around online to see whether there are any printable coupons available. Many companies release money-off vouchers on their websites when they release a new product.

You can also find coupons in supermarket magazines and other promotional material. If you’re signed up to a mailing list, a store might send you special discount vouchers through the post, so make sure to check letters before throwing them away.

Newspapers often print coupons, which you can trade in for a free product or redeem for cash off your total bill. Rather than wasting money on editions that don’t include vouchers, frequently check websites like HotUKDeals to hear about the latest deals.

Make a Shopping List

YouGov research conducted last year showed that the average shopper overspends by almost £30 every time they visit the supermarket. This is because many people are tempted to purchase items that they simply don’t need.

One of the best ways to avoid being lured in by special offers and new products is to create a shopping list. By pre-determining what you will need for the week and picking up nothing else, you will avoid wasting food and save considerable sums of money.

Buy Cheaper Products

Don’t automatically avoid no name no brand items in favour of those with more familiar packaging. Going for the cheaper option does not necessarily compromise quality, but it will almost certainly have a positive impact on your bank balance.

You should always check the price-per-volume on the label so that you can compare the costs of different products, and don’t assume that buy-one-get-one-free or other deals necessarily equates to the best value.

Most supermarkets have a discount section where products with damaged packaging are placed, so make sure to have a look around. The price of items that are going out of date are also reduced heavily, but only buy these if you are sure to use them soon.