In the second part of these posts on New Year’s Resolutions, we are looking at the third most common resolution, spend less money. Christmas can be an expensive time, with gifts and extravagant meals, so it is little wonder that people go into the new year looking at spending less.
The first thing to check is if you are claiming all of the benefits you may be entitled to, with the roll out of Universal Credit claiming is supposed to be easier, as it can be done online. Luckily Turn2Us has a handy benefits calculator, you just enter your details and it will tell you what you are entitled to claim. It can be found here:
According to the BBC staying loyal to your supplier, be it from insurance, gas, electric, phone contracts and savings can actually cost each person £877 a year, because loyal customers are not rewarded, instead offers are made to new customers.
The internet is a great place to shop for new deals on your existing contracts, there are plenty of sites that offer comparisons, so it is worth shopping around.
For utilities such as gas, electric, home and mobile phone contracts as well as credit cards, car and house insurance Uswitch is a good place to start. If you have copies of your bills it can tell you what you would be paying by switching, based on your historic usage. If you don’t have any details of your current usage it can estimate this based on the average consumption.
Uswitch can be found here:
As always, check the fine print before you buy to ensure the cover or usage you get is comparable with what you current have.
The final thing to check is are you paying for something you don’t use? Do you pay for a lot of TV channels, but don’t watch them all? Try downgrading your deal, or haggling with your supplier. Do you have a gym membership, but don’t go? Cancel it and start running instead.