The biggest chunk of our monthly outgoings is spent on bills. When you’re managing the family finances, it’s the largest portion of money to go. Luckily, there are plenty of ways to cut costs, and free up some extra cash. Imagine what you’d do with an extra bit of pocket money! You could save up for that family holiday, or upgrade the kitchen like you’ve always wanted. When it comes to the family budget, it’s all about finding those small, cost-effective savings. They might not seem like much, but across all your bills and accounts, it adds up. Here are some of our favourite ways to cut household bills.
Use less energy
It seems decidedly simple to say it out loud. In practice, it’s a little trickier. Just remember, that energy bills typically make up the biggest chunk of your expenditure. So, where possible, try to restrict your usage. Turn off lights and appliances. Turn the thermostat down just one notch. Make small cutbacks across the board, and you’ll see those bills come down. Apply the same techniques to your other expenses. Try to use the car less often, and cut back on unplanned shopping trips.
Review your current policies
When was the last time you took a good, long look at your current policies? Are they still appropriate for your family and lifestyle? Dive into the records, and see if you’re paying more than you need to. Are you paying for more broadband data than you’re actually using? Are you only using half the free calls and texts on your phone? Could you bring the excess down on your car insurance? It’s these small costs you can amend and reduce.
Or change them entirely
Many customers stay with their providers out of loyalty. The truth is, loyalty no longer pays in the modern utilities market. Every provider has a cycle of new entry-offers and discounts. If your contract is coming to an end, you’ll almost certainly find a cheaper option elsewhere. We recently switched our gas supplier and our internet provider. We also picked up Stoneways trailer insurance instead of including the trailer on our car policy. These simple tricks will save you money. Always keep your eye open for new deals, and don’t worry about loyalty!
Use a different payment method
Are you currently paying your utility bills month-by-month? Well, there is a cheaper way. You’ll often save a fortune if you can pay the entire year up front. We know that it’s a struggle for some families, but imagine freeing yourself of the internet bill for a whole year! It’s worth scraping through one lean month to free yourself of the regular burden. We often find that car tax, broadband, and TV licensing are all small enough costs to pay up front. Doing that has drastically reduced our monthly outgoings. Plus, you get a better deal when you pay all at once.
We’d love to hear from you if you have any other great tricks up your sleeves! How do you keep your monthly outgoing low and manageable?