It would cost to carpet my lounge 14" by 16" so I need to know how much to save.
Not bothered bout quality just colour.
Any ideas / recomendations?

We've just had carpets fitted for about £16 a square metre, fitting underlay and bits and pieces all included. At that rate you're looking at maybe £400. Certainly it can be done more cheaply, but we wanted a decent quality carpet.

At £16 a square metre, for a carpet that size, it'd be less than eight quid. ;)

14" by 16" ? can you even fit a chair in there?

I think you mean, 14' by 16', (feet, not inches ;)) -- if thats the case... that's a big room.