You are in Jersey change

Are you wasting £1,000s?

Pricetag

Are you wasting £1,000s?
9 must-do checks to ensure you’re not haemorrhaging cash

These major cost-cuttings can have a mammoth impact on your cash. Check everything.

1. Has your mobile bill been cut? If not, you’re likely overpaying.

Mobile tariffs are getting cheaper, so annually for the same usage you should expect to pay less.  Assess your bill, and compare costsbut don’t automatically switch, though. Call your network, and ask it to match or beat the best price you can find.

2. Do you LOVE your bank account? If not, get paid £100 to switch.  Some accounts will pay you to change so make sure you have a look.

3.Check your gas & elec savings in 2 mins (typically £250/yr). Someone on a standard tariff paying £1,320/yr could see it cut to £1,030 by switching to the cheapest. Check what you can save by contacting your current company or alternatives

4. Are you owed £1,000s in back council tax or PPI? Up to 400,000 homes are in the wrong band. If yours is too high, you can get it lowered with a backdated payout.  Plus anyone who’s had a loan, credit or store card in the last 10 yrs should check if they were mis-sold insurance, as banks now must pay it back.

5. Do your savings pay less than 3%? Savings providers suck us in with high rates, slap ‘em down when we’re not looking, then flog new similar-sounding accounts so we think we’re still doing well. Check & boost your rate now.

6. Is your mortgage over 4%? Slash it & save £100s/year. A raft of lenders have just hiked their standard rates. Check yours now.

Can you cut your rate? You’ll usually need to: a) Owe less than 85% of your house’s value. b) Not be on a discount/fixed rate special offer. c) Have a decent credit score.

If so, big savings are possible. Many pay 4%+ yet deals as low as 2.79% are possible, saving £750/yr per £100,000 of mortgage.

7. Has your car insurance cost been hiked? Even if not at renewal, check if your car insurance is too costly. Many overpay £100s. Provided you’ve not claimed, many can switch for a small admin fee that’s easily outweighed by savings. Click on the relevant link for your cheapest system.

 8. Are you getting benefits & tax credits you’re entitled to? For some families, these can be £1,000s a year.

9.Are you paying over 10% interest on credit cards? If you’re paying interest and don’t have a poor credit score, try a balance transfer. Here you apply for a new card that repays debts on your old cards, so you owe it the money at a much lower rate.

Categories: Helen's Money Saving Tips

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>