I think it is fair to say we would all like to lower what we pay for stuff right now, and with energy prices skyrocketing, this has never been more pertinent. So we took a new look at ways to reduce your bills.
Reduce Your Bills – Gas & Electricity
Gas and electricity are most likely your largest household expenditures after your mortgage and rent. In under an hour, you can save money on these expenses by:
Direct debit payments
Giving a regular metre reading to ensure that your provider does not owe you money.
Joining Martin Lewis’ Cheap Energy Club, which monitors your tariff and notifies you when it’s time to move.
To save money, switch utility providers as often as possible.
Negotiating a better deal with your existing provider.
Water
The typical monthly water expense for a four-person household is between £30-£35. You only pay for what you use if you have a water metre installed, so contact your supplier to get one put. Also, take fewer baths; a shower consumes half the amount of water that a bath does. I tried to get a meter installed – they could not do it because of the positioning of my gas outlet. However, this meant they were obliged to put me on a cheap tariff instead. So always try to get a meter installed.
Reduce Your Bills – Council Tax
The majority of us have little control over our large monthly council tax payment. Over 400,000 dwellings in the UK, however, are in the incorrect council tax band. Is it possible that this is you?
Go to GOV.UK to see if you’re in the suitable band for your property. If you’re in the wrong band, you can file an appeal with your local government; you never know, you might get a big refund.
Reduce Your Bills – Phone/Broadband
Have you been on the same contract for years and it simply keeps becoming more and more expensive? If your broadband/landline provider refuses to lower your bill, use comparison sites like moneysupermarket, Uswitch, and comparethemarket to switch, switch, switch.
When it comes to new clients, the broadband market is one of the most competitive, therefore haggle hard. You may save up to £30 per month with just one phone call.
When it comes to cell phones, figure out when your existing contract expires and shop around. Do you use all of your monthly minutes and data? If you don’t, you’re essentially paying for nothing. Opt for something less complicated and less expensive.
Reduce Your Bills – Insurance
Every year, Brits spend hundreds of pounds on insurance for their cars, homes, vacations, lives, and pets. There are two golden rules for lowering insurance costs:
1) Never accept the same company’s renewal pricing — loyalty doesn’t pay when it comes to insurance providers, so switch every year and save.
2) Avoid paying for any insurance coverage via direct debit because you will be charged interest on top of the premium.
If your insurance is about to expire, conduct a pricing comparison right now and switch.
Credit Cards
Paying off credit cards and other debts can eat into your monthly budget significantly. You’ll still have to pay off your obligations, but there are more cost-effective ways to do so.
Transfer your credit card debt to a balance transfer card if you haven’t previously. Set aside a set amount of money each month to help you pay down your debt.
Remember that the only way to get out of credit card debt is to stop using them, so resist the urge to get another one.
Food
There are many of ways to cut your monthly food bill: buy at discount supermarkets, prepare your own sandwiches, cultivate your own fruit and vegetables, and so on. However, we feel that meal planning is the most effective approach to save money and time on food.
You won’t need to perform ’emergency shops’ at smaller, more costly supermarkets if you do one weekly shop armed with a meal plan.
Instead of buying what you need on the spur of the moment, a meal plan pushes you to buy only what you need (which makes you chuck any more expensive things in the basket). It’s a win-win situation because meal planning has been shown to enhance your diet.
Childcare Bills
The cost of childcare on a monthly basis can easily exceed the cost of your mortgage or rent. Check to see if you’re getting all the aid you need. Check your eligibility for child and working tax credits, and determine if you qualify for the new Tax-Free Childcare programme.
It was established in 2017 to provide working families with a 20% discount on qualifying daycare charges.
