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Jul 06

How To Pay Less On Essential Living Costs

Reading Time: 2 mins

It’s never a bad time to review your living costs and expose ways to reduce the costs and increase the savings. This should be done periodically, at least once a year, just to check that you’re not missing out on any fab offers or new deals resulting from increased competition. Areas that generally fluctuate are insurance, energy, and broadband. Below are some great ideas to help you save on these things and more.

 

Car Insurance 

If you’re a car owner you know there are a lot of fees and expenses to go with your luxury, convenience, or necessity. There’s road tax, fuel costs, the cost of the car itself, and that stiff insurance quote you get once a year. There are ways it can be reduced if you choose not to go with a broker. Compare the market and switch insurers with like-for-like cover. Increase your excess to reduce your premium or and don’t pay by direct debit if you can avoid it. 

 

Immigration 

With Brexit looming many people need to organise visas for themselves or partners coming to work in the country. It’s important to get the application right first time in order to avoid having to reapply and incur not only charges but non-refundable application fees. Enlisting the service of an immigration solicitor is one foolproof way to avoid these unnecessary expenses and get the process right the first time. Think what else you could do with the money: a down payment on a new car or a transatlantic holiday would not be too far-fetched. 

 

Broadband 

Broadband has become an essential household service, as important as electricity in some ways. Getting the right broadband is a bit of a balancing act. You first have to assess your internet needs. Are you a high-use household, do you have gamers? The last thing you want is to get a good price on broadband but then suffer a too-slow service. Contact your provider and find out your usage stats. Haggle with them for a better price, then compare the market with your stats and see if it can be beaten.

 

Energy 

Everyone wants to pay less for their energy, and the market is becoming more competitive with renewable options gaining popularity. The quickest and most straightforward way to save hundreds of pounds on your annual energy bills is to switch suppliers. It might seem like a tiresome or inconvenient thing to do but you should know that energy companies don’t reward loyalty. Chances are you pay more the longer you stay with them, so it’s in your interests to switch. Go online and do a quick comparison, you’ll be surprised how much you can save – it’ll put a smile on your face. 

 

Loans 

Do you have an unsecured loan that is costing you money every month with excessive interest? If you have savings, it’s always a good idea to pay it off either partially or entirely: the money you save on interest will soon accumulate and restore your savings pot. In the event that you can’t pay it off consider switching the money to an interest free loan option for a period of 12 or 18 months. The money saved on interest can go towards paying off the loan. 

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