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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

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How to save money on your bills

By Jordon Cox

It’s the most tedious part of being an adult – paying bills. We all have to do it, but it doesn’t make us any more excited by it.

If you are worried about your bills, or are having trouble with debt it’s essential to seek help sooner rather than later. However, there are ways to cut down your bills – meaning you have more money left over at the end of the month.

Instead of the standard tips of phoning up different providers (which takes a lot of time and in the end might not work), these tips are easy things to do that still adds up to a lot of savings over the year.

Here are the tips and tricks I use to save money on my bills:

Mobile phone

There’s an app you can download called Airtime Rewards, which will give you cash back without even thinking about it. Once you link your debit and credit cards, you earn cash back if you ever shop at one of its retailers listed.

“What has this got to do with your phone bill” you may be thinking. Well – the app is linked to your phone number, and money earned will be taken off your contract or pay-as-you-go plan when redeemed. 

Energy

It’s one of those bills that works out cheaper if you switch tariffs at the end of each year – but remembering to do this can be a challenge. Luckily there are options to help with this!

Several companies are popping up, which automatically switch your energy provider for you, when it comes to the end of your plan. These companies might not switch you to the cheapest tariff, but rather to the cheapest one in its network of providers

Take a look at companies like Look After My Bills and Switchd.

Car insurance

This bill may cost a pretty penny – but there’s a sweet spot to renew after you’ve started paying it. When purchasing new insurance, make sure you set a calendar reminder for three weeks before the renewal date, as this is when it’s cheapest.

It’s an important one to remember as renewing too early or too late (like a few days before it’s due) could result in companies stinging you with a higher price.  Keep an eye out for the three-week sweet spot!

TV License

A controversial bill, but one that can be easily avoided. You’ll only need to pay this bill, if you watch live TV (or the BBC iPlayer) in your household.

If you don’t want to pay £157.50 a year, you can (legally) forgo the cost by switching to online only streaming services.

If you only watch Netflix, Amazon Video, Disney+ or YouTube, then you can kiss another bill goodbye.

Food

Supermarket shopping for food is essential for us all – but it doesn’t have to cost an arm and a leg.

If you’ve never shopped online before, you can find new customer codes for all of the major chains, which should get you between £10-20 off your first delivery. Simply cycle to a new supermarket each time you need some shopping, find those deals, and you can save £100+ on your shop.

Broadband

In this day and age, buying super-fast broadband is near enough essential, but how much you use may fluctuate. A simple way to save money is just to keep track of how many gigabytes (GB) you’re using. You’ll find this in your monthly statements.

If you have an unlimited plan, but only use 20GB a month, you can have a look to see if a different package could save you money – knowing you are unlikely to go over.

 

These simple tips will add up to £10s or even £100s in savings throughout the year – which will go into your pocket, instead of the big companies. Think about what that extra cash could buy you or your family.

This just shows you that just a small change to your usual habits, can mean a big change to your financial life.

 

Photo by Austin Distel on Unsplash

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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

Launch Chat

Chat to the Money Advice Service
Monday to Friday, 8am to 6pm
Saturday, 9am to 1pm.