If you often look at your latest household costs and think they seem strangely high compared to what you are accustomed to, rest assured that you aren’t the only one facing rising costs. In fact, it’s been a common problem for many households around the UK, but one that you can address in your case.
Whether your own costs have risen due to inadvertently high spending on your part or alternative factors beyond your control, here are ways that you can cut your financial obligations.
Home phone and broadband costs
You are likely to rely heavily on your residential phone and broadband connections; however, there are still simple ways in which the prices of those can be trimmed. Getting lower prices could be as easy as directly calling your supplier and asking for a better deal financially.
You might find that your current package doesn’t entirely fit your lifestyle anyway. For instance, you might regularly use more data than your broadband deal actually pays for, leaving you needing to often pay extra. In that case, switching to a different deal with more data could work out cheaper.
Mobile phone bills
Yes, it’s always exciting when your mobile phone contract is about to run out just after that fancy new iPhone has hit the market. However, you shouldn’t rush so quickly for that new handset that you don’t look meticulously for the most financially rewarding contract.
You can analyse your bills through use of online tools cited by the Money Advice Centre. The analysis can assist you in discerning the most suitable new contract – though you should also remember that there is room for negotiation with suppliers when it comes to picking up a good deal.
The average UK household has a water bill of nearly £32 monthly – and, while switching your water supplier isn’t an option, you can still pay attention to exactly how you use water.
You should start washing yourself with showers instead of baths, if you don’t already regularly do so. Also, look at your shower head; could you easily buy a more efficient one?
Driving and public transport costs
Costs of either of these can be routine for many of us. After all, few people have the option of simply walking a few minutes each way between their home and their workplace. Still, if you rely on trains, you could save money by booking the tickets for those trains in advance.
If you need to use your own vehicle rather than take public transport, you could still get financial relief by obtaining less expensive insurance for that vehicle. Let’s assume that you had two motorcycles – one for work use, the other for personal use. You could save money by covering both bikes under one policy with multi bike insurance.
Late payment fees
If you often incur these fees due to paying your bills too late, then you should make a habit of regularly paying those bills ahead of deadline. Nonetheless, if you have a busy life with many other responsibilities competing for your attention, missing payment deadlines can be too easily done.
One ideal solution could be arranging to monthly pay by Direct Debit. If you usually pay late because you struggle to make ends meet, you might need to make changes that are more fundamental.
Tips for a more cost-effective lifestyle
The suggestion of saving money by altering the way you live could initially worry you. However, once you look closely at many of your lifestyle habits, you may be pleasantly surprised by how much you could cut your expenditure without seriously compromising the way that you currently live your life.
It’s very much about looking at many current regular habits and making small changes to them. By way of example, you could yearly save £250 by weekly having one takeaway instead of two, says MoneySavingExpert.com. You might even be able to make food instead of opting for takeaways.
Once you start noticing saving possibilities, you might soon notice more and more of them. Perhaps you could quit smoking or say goodbye to that cappuccino you usually have during the lunch hour. Also, could you drop some Sky TV channels that you don’t genuinely need?
Seek advice from people who have recovered from money struggles
Fortunately, there are many online places where you can find such people. These places include two sections of the MoneySavingExpert.com forum: Debt-Free Wannabe and MoneySaving Old-Style.
If your difficulties with money have become so significant that you are currently in debt, then there are ways to turn things around, as Debt-Free Wannabe could help you realise. This is a forum board that attracts people who have stripped their lifestyles down to bare essentials. Meanwhile, MoneySaving Old-Style can help you boost your eco-friendliness and lower your consumerism.
Until Next Time… Charlotte x