Staying Ahead of The Crunch – Part one: Reducing Household Costs

When it comes to your household bills and services, loyalty rarely pays and it is better to shop around to get the best deals.

We have put together a list of everyday household costs and ways that you could look to reduce these to beat the current crunch!

Gas and Electric

Try using an independent price comparison site such as http://www.switchwithwhich.co.uk. These sites will allow you to input your current usage and see if there is any saving to made. For the sake of a couple of minutes shopping around this may mean quite a large saving over the year. As prices are also on the increase you may wish to consider fixed plans – many suppliers are offering fixed prices for a number of years. Also, pay by direct debit – this will also make it easier to budget monthly and reduce the chances of running up a large bill.

Water

Is often overlooked when people are looking for reductions. In some households it may workout cheaper to have a water meter installed rather than standard rates. Your water company will be able to estimate your saving, and also you will be doing your bit for the environment. If you are already on a meter you could look to get a flush saver, this is a bag you add into your cistern to reduce the amount of water used when flushing.

Have a look on your supplier’s website as often they do have other great water and money saving tips.

Phones, Internet and TV Packages

If you have a mobile, internet and landline, you may be paying a huge amount every month. It pays to check whether you can get a package deal. There is a lot of competition around at the moment, so you could try and negotiate a better deal and play one company off against another.

BT have introduced a new call package to help people on Income Support, Income based Job Seekers Allowance and Pension Credit. This is called BT Basic. The package is designed to help people on lower incomes. The line rental is £13.50 a quarter and this also includes £4.50 to spend on calls. For full details of this please click on this link to visit BT’s website.

A lot of companies are offering free internet as part of other deals. For example, sign up for a mobile and get free internet. Shop around to make sure the deal is as good as face value. Just because something is advertised as free does not necessarily mean you are getting a good deal overall.

Look at whole costs if you have a TV package. Do you watch all of the channels you are paying for? If you were to buy those you do watch as separate deals would it work out cheaper?

TV Licence

In some instances you may be eligible for a reduction. At the moment the full price of a licence is £139.50. If you have a black and white TV this would reduce to £47.00. If you are over the age of 74 you will be eligible for a short term licence because as soon as you turn 75 this is free!!! It is really important that if you are using a TV you have a licence so you don’t risk the £1000 fine.

Council Tax

Check you are in the right council tax band as you may be overpaying, you can do this by contacting your local council.

Possible reasons for reductions could include:
If you are a single person you will be entitled to a 25% reduction.
If you share your home with one adult or more who is not eligible to pay towards the council tax (if they are not your partner)

These are some of the ways you could save money. If you have any other ways of reducing costs that we have not covered, feel free to share your ideas on our message boards.

Stay one step ahead, your money is better in your pocket!

Keep Your Wallet as Fat as the Goose This Christmas

Christmas is fast approaching; the geese are getting fat… our thoughts turn to presents… Arrrgghh where to begin??!

As we all know Christmas can be hard on a tight budget and trying to find the right gift can be a headache and a large expense.

Hampers are a good way of tailoring the gift to the individual without breaking the bank. We have put together some ideas below – but you can be as creative as you like!! Share your ideas with us on the discussion board.

Ideas for Christmas hampers and gift sets
A selection of speciality coffees with a personal coffee cup
Teacup with a selection of herbal teas for the hippy chick
A selection of special sparkling ciders (try saying that after a couple)
Basket filled with deli cheese and home made chutney for uncle Dave
Home made bread in a pretty basket filled with special jams – ideal for Gran
An assortment of chocolate bars tied with a ribbon for the chocoholic
Packets of muffin mixes with chocolate chips and a muffin baking tray
A basket filled with a bottle of wine and glasses for the connoisseur
Deck of cards and magic book to keep the family entertained on Boxing day
Gel pens and pretty stationery
Decorative napkins and napkin rings
Decorative glass filled with sweets
Nail manicure set
Pretty box for keepsakes
Special soaps
Make up gift set
Car polishing set for dad
Herbs and Spices for the master chef
Homemade sauces and chutneys
Pepper mill and fresh peppercorns and not for the faint hearted you could include some hot chilli oils!

It you are a little artier, try something more creative. Be careful though, because if you’re no Van Gogh or Jamie Oliver it could go horribly wrong and turn into a primary school project!

Crafty gifts
Craft supplies
Photo album, hand decorated is even better
Favourite quote embroidered on a nice handkerchief
Baking cookies
Picture frames with that favourite photo
Make your own Christmas tipple – Wines, Beers or Cider

If none of the above hit the spot don’t forget there are always the good old vouchers, this time with a twist

Gift Vouchers
Cinema and Theatre Vouchers
Magazine Subscription
Family Vouchers – For example you could design and make a voucher in exchange for – babysitting, dog walking, gardening
I tunes Voucher
High street store vouchers

How Do I Stick To My Budget?

Ever checked your bank account to discover you have 76p to last you the two weeks remaining until payday? Chances are that if you are living to a tight budget this will have happened at some point. Planning out a monthly income and expenditure budget will help, but it’s useless if you can’t make it work in practice. Here are a few tips on how to stick to a budget:
Spending Diary – One problem with trying to stick to a budget can losing track of where the money goes. To get an idea of what you spend your money on, it can help to keep a diary of every penny you spend. It may take a bit of work but after a few weeks you’ll have a better idea of where the money does go.

Savings Account – A good budget will include money for Christmas and birthday presents, car repairs and replacing clothes. These costs occur from time to time. So tuck away this money into a savings account in the months it is not needed, and you will have a bit of money ready for when one-off expenses come around. For example, you may not spend £20 every month on car repairs, but if you save £20 every month you should have enough when the MOT comes round.

Shop Around – Always make sure you are getting value for your money by shopping around. Making sure you are getting the best deals can save you large amounts of money. Price comparison websites will help to check the prices to find the cheapest deals.

Set Targets – When planning a budget there are some bills that are fixed at the same amount each month and are easy to plan out, but things like food and entertainment are tougher to keep track of. Set yourself a target of how much you can afford to spend and try to stick to it.

Be Green – Being environmentally friendly will usually be cost effective too. Walking instead of driving short journeys will save money on petrol as well as cutting down on carbon emissions. Making sure you use all the food you buy is also good for the environment and will make your money last longer.

Cut Back – OK, so this one is pretty obvious, but cutting back on things you don’t need will really help. Just cutting out one night a month going out and staying in with your friends instead leaves extra money to spend on other things.

These are just a few tips to help you stick to that budget but if you can think of anymore that work for you, why not share them on this page or let us know on our forum here.