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!