We’ve all got bills we need to pay, but are we paying too much for these services, and are there ways to reduce your monthly spend?
There are lots of different ways you can cut down on your bills, and when you add them all up, they can represent some serious savings.
Often, we’re too happy to just let payments go out on direct debits without taking the time to wonder if we can find savings, but when you do, you often find you can get a much better price.
Switch Gas/ Electricity Provider
Chris Shaw, CEO at Utility Bidder says that “we see spells where gas prices drop, and this is the time to secure your long-term business contract.” Whether it’s for a business or household, many people are overpaying for their gas and electricity.
Many people simply allow their contract to be auto renewed, which might be convenient, but it means you don’t get the chance to shop around for the best deals. If energy companies are expecting you to auto renew without checking the market, then they’re not likely to give you the best price, and this is often the case.
Make sure you’re shopping around to find the best prices for your gas and electricity as it can make a big difference.
When it comes to bills like our monthly food shopping, there are many times where we don’t use everything we buy. Buying the right amount of food and using it all before it goes off isn’t easy, but it can save you a significant amount of money.
We tend to throw away lots of food, and this is simply wasted money. The best way around this is to plan out your meals in advance and be really strict about what you buy. If it’s not in the plan, then don’t buy it because there’s a high chance it won’t get eaten.
Supermarket offers like buy one get one half price are enticing, but how often do you find you don’t end up eating the second item? We spend a lot of money on food, and most of us will find there are savings to be made if we plan our monthly shop better.
Don’t Upgrade Your Mobile Handset
If your phone contract is coming up for renewal, then think about not taking the “free upgrade.” At the end of the contract you own your phone, which means you don’t have to pay for the handset anymore, so why not make the most of it and keep your phone a while longer.
Most phones will work perfectly well for many years after the contract has finished so why not save yourself some cash by not upgrading? This also gives you the option to shop around for a SIM only deal that suits your phone usage.
Watch Your Water Consumption
Water is essential for life, but it still costs money, and many of us don’t use it efficiently. People spend hundreds of dollars a year on their water bills, so there is plenty of money to be saved by using water more efficiently.
There are lots of water saving gadgets out there that can help you cut back on the amount of water you use. From shower timers to water efficient showerheads, there are plenty of ways to get you using water more efficiently and bringing down your bills.
These might be small savings, but when you repeat them every day over weeks, months, and years, it makes a big difference.
Pay Your Bills on Time
An easy way to allow your bills to spiral out of control is by not paying them on time. When you pay minimum payments on bills or miss the payment deadlines, you incur interest and charges that make it much more difficult to pay all your other bills.
Cutting down on your bills is a great way to free up money, but you’ve still got to make sure you’re on top of paying those essential bills. If you can pay your bills on time and in full, then you’re going to limit the amount of extra fees you end up paying.
The same principle applies to car insurance as your energy bills. Many people allow their policies to simply auto renew, but there are better deals to be had if you shop around for a new policy.
Car insurance is a big yearly expense, and you can save significant money by shopping around for the best deal.