With inflation at an all-time high, everything costs far more than ever. What can you do to reduce household bills from food prices, fuel, and utilities?
We’ll also show how you can generate extra income.
Table of Contents
Reducing your home phone and broadband bill
You don’t need a landline these days, so if you get rid of it, it will cut back on costs.
Start by following these easy tips to help you save on your monthly mobile phone and broadband bills:
- Ask your supplier for a better price. These days, Virgin Media, Sky, BT and City Fibre all offer great deals.
- Compare prices on comparison websites to look for a better deal.
- Tailor your mobile phone contract to your needs – for instance, if you frequently go over your data limit and are charged extra, a plan with more data could be more cost-effective. Sky Mobile offer you the ability to roll over data for 3 years, and SIM-only deals start at £5 per month.
There are plenty of suppliers out there, so you can easily save some money.
Do you Need a Landline?
With everyone having a mobile phone these days, you don’t need a landline.
City Fibre and Virgin Media allow you to purchase broadband without a landline.
Switching your home phone and broadband
It’s now simpler than ever to switch your home phone and broadband provider – and you could save yourself a lot of money on your bills.
Here are some tips to bear in mind:
- Be sure to use multiple comparison websites. They don’t all feature the same deals and providers, so the more you check, the better your chances of finding a better deal.
- Be sure to check both the monthly and yearly costs in the breakdown. This way, you’ll know exactly what you’re buying and won’t be met with any unwanted surprises when your bill arrives.
- Be aware of promoted products. Many comparison sites get paid a commission when you switch through them, so they may try to persuade you to choose one product over another, even if it’s not the best deal.
- See if you qualify for social tariffs. You may be able to get cheaper phone and broadband services if you’re receiving certain benefits.
- Look up the latest customer satisfaction ratings for the bigger providers, which you can find on Ofcom’s website.
- Before ending your contract early, find out if there’s an early termination fee. Wait until you are out of contract before you start a new one.
Get a cheaper mobile phone bill
Is your mobile phone contract coming to an end? Are you looking for the best value?
Here are a few tips to help you save money:
- Use online comparison sites.
- If you don’t need a new phone, then going SIM only will save you a few quid!
Cutting the cost of your water bill
According to Water UK, the average yearly water bill in England and Wales stands at £448. You can’t switch water suppliers.
There are a few ways to save on your bills:
- If you are low-income or a pensioner, you may be entitled to a discount. Speak to your water company.
- If you use less water, why not install a free water meter, switch to showers instead of baths, and opt for a more efficient shower head?
Government help to reduce your energy bills
Energy prices are high right now. The most cost-effective rate you can get is likely your supplier’s standard default tariff.
Keep an eye on prices, and switch to a better deal as soon as possible.
Warm Home Discount
The Warm Home Discount scheme offers households with a low income a £150 discount to help with their energy bills. The scheme opens for applications from October to March every year, and you must apply directly to your energy supplier.
Pensioners help with energy bills
If you’re having trouble paying your energy bills this winter (2023-24), you could be entitled to additional help. These are:
- A Winter Fuel Payment of between £100 and £300 if you’ve reached State Pension age. This should be paid to you automatically from November each year.
- A Pensioner Cost of Living Payment of £300 for households that receive the Winter Fuel Payment. This is an extra payment on top of your Winter Fuel Payment in November.
- A Cost of Living Payment of £900 for households on means-tested benefits, such as Pension Credit or Universal Credit.
- A Disability Cost of Living Payment of £150 for those receiving disability benefits, for example Attendance Allowance.
Are You Paying too much council tax?
It’s worth taking 10 minutes to check if you’re being overcharged on your Council Tax – up to 400,000 households could be in the wrong band. You could save hundreds of pounds and even get a rebate.
If you’re receiving certain benefits, you may be entitled to a Council Tax Reduction. You may also be eligible for a discount of up to 50% off your bill if you live alone, have children under 18, or fit into other special circumstances.
Cut the cost of driving and public transport
Whether you’re behind the wheel or using public transportation, your monthly expenses likely include a lot of travel costs.
But there are a variety of ways to reduce these costs, such as:
- Shopping around for more affordable car insurance;
- Purchasing cheaper fuel although some of supermarket fuel can give you lower miles per gallon;
- Booking train tickets ahead of time.
Pay your bills on time
Try to pay your bills on time, as late payment fees can apply. To help you stay on top of your payments, here are some tips:
- Set up Direct Debit for all your regular bills to ensure they are paid on time each month.
- If you’re having difficulty making a payment, talk to the supplier you owe money to. They may be able to help.
Don’t pay for things you don’t use
Think about whether you truly need everything you’re paying for. If you’ve got subscriptions to Netflix, Apple TV, and Sky, do you use them all? Could you save money by cancelling one or two?
Are you paying for high-speed home broadband, even though you don’t usually use it for streaming or gaming?
Shop around or talk to your current provider about switching to a less expensive package that still meets your needs.
Don’t remain loyal
Sadly, very few businesses recognise customer loyalty and usually offer the best deals for new customers.
This leaves loyal customers at a disadvantage. To make sure you get the most out of the offers, switch providers regularly.
Always try to haggle
Haggling doesn’t have to be rude or awkward – it simply means asking politely for a better deal.
This is something that doesn’t generally work in ASDA, but broadband, TV and mobile providers usually are willing to negotiate on packages and prices.
If you’re looking to save money on your grocery bill, there are plenty of ways to do that. Most people are able to make savings, meaning it’s a great way to stretch the budget.
Buying Own Brands
There’s no avoiding the cost of groceries, but you can reduce expenses by dedicating some extra time to finding deals.
One of the simplest ways to lower your food budget is to switch from a familiar brand to a cheaper option.
Planning meals in advance can also help reduce waste. Supermarket-branded products are usually more affordable and often don’t compromise quality or taste.
Many of these own-brand items are made in the same factories as name-brand favourites, so you may not even notice the difference.
Introductory offers on delivery
Many food delivery services offer generous discounts the first time you order from them – for example, you can get £12 off an order of £60 from Sainsbury’s. Uber & Deliveroo also promote similar offers.
If you’re not particular about where you shop, switching between services can make great savings.
Take advantage of coupons and discounts
Take advantage of coupons and discounts for new customers. Not just at the supermarket – you can also find deals on veggie boxes, coffee subscriptions, and meal kits! Just remember to cancel on time to avoid expensive subscriptions.
Install a voucher code extension such as Pouch or Honey on your web browser to automatically search for discount codes at the checkout.
Don’t let savings go down the drain
Taking four-minute showers can save the typical household £45 a year on energy bills. It might be nice to take a long, relaxing bath, but replacing just one bath a week could make a difference.
You can also save around £20 a year on your energy bill by using your washing machine more efficiently. Try a 30-degree cycle instead of higher temperatures, and only turn it on when you have a full load.
Pay less for your property
If you own your home and have a spare room, consider renting it out or listing it on AirBnB for some extra money. If you live close to events or sports matches where parking is scarce, you can make money by renting out your driveway.
If you’re renting, maybe you can find a cheaper property elsewhere. Even though moving is not for everyone, it could be worth considering if you’re not content with your current location.
If you’re thinking of moving further away from your workplace and commuting, make sure that the extra commuting costs don’t negate the savings you’d make with a lower rent.
Have You Thought of Downsizing?
Are you looking for ways to reduce the cost of your property? Or maybe you’re thinking of selling it?
If you are living in a large home, heating it during winter and cleaning it can be a huge task. Why not sell and downsize instead?
Get in touch with Property Saviour today, and our friendly team will be happy to help you.
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