Despite the cost of household bills continuing to rise across the UK, cutting costs is easier than you think. And the average household can save hundreds of pounds each year by following our tips.
Reducing your home phone and broadband bill
There are a lot of suppliers out there and it’s easy to cut your monthly phone and broadband bills.
Start by following these simple tips:
- call your supplier and ask for a better price
- use a price comparison website to find a cheaper deal
- match your contract to your lifestyle – for example, if you use a lot of data and are charged extra when you go over, a deal with more data might be cheaper.
Get a cheaper mobile phone bill
Is your mobile phone contract coming to an end? Are you trying to find the cheapest way to get the latest handset?
Here are a few tips to keep your bills low:
- use online tools to analyse your bills and recommend a contract
- negotiate with suppliers – remember that you’re in charge
- use price comparison websites to find the best deal for you.
Budget Planner
To work out how much money you have coming in and what you’re spending it on, use our Budget Planner
Cutting the cost of your water bill
The average yearly water bill is close to £400, according to Water UK. And although you can’t switch water supplier, there are ways to save money on bills.
For example, you could:
- have a free water meter installed
- take fewer baths and switch to showers
- switch to a more efficient shower head.
Cheaper gas and electricity
Did you know?
Consumers can knock around £300 off the average yearly gas and electricity bill by switching energy tariff
Source: Ofgem, 2020
There are lots of energy suppliers out there competing for customers. So it’s a good time to find yourself a cheaper deal.
It’s also a good idea to look at some energy-saving tips. For example:
- switch to monthly Direct Debit payments to cut your costs
- turn down your thermostat by just 1°C
- consider collective switching – is it worth it?
Money Navigator Tool
Have you got money worries because of coronavirus? If so, you’re not alone.
For instant money guidance based on your circumstances, get started with our Money Navigator tool
Are you paying too much Council Tax?
According to MoneySavingExpert, up to 400,000 homes are in the wrong Council Tax band. So it’s worth making sure you’re not being overcharged.
It shouldn’t take more than ten minutes to find out. And you might end up saving hundreds of pounds and getting a rebate.
Also check whether you qualify for a discount of up to 50% off your Council Tax bill.
Want to feel more in control of your finances?
Our free and flexible Couch to Financial Fitness plan will help you build confidence to manage your money.
Step by step we can help you cut your spending, develop core saving muscles, and create better habits for the future.
Sign up for the MoneyHelper Couch to Financial Fitness plan
Slash the cost of driving and public transport
Whether you drive, or use public transport, travel costs probably make up a lot of your monthly spend.
But there are plenty of ways to cut travel costs. These include:
- finding cheaper car insurance
- buying cheaper fuel
- booking train tickets in advance.
Pay your bills on time
Late payment fees can wipe out savings, so it’s important to make sure you pay your bills on time.
Here are some tips to help stay on top of your bills:
- pay for regular bills monthly by Direct Debit
- keep a record of payments and plan ahead
- talk to the people you owe money to if you’re struggling.
Is your household income getting squeezed?
Check you are receiving all the benefits or grants you might be entitled to.
Find out about extra sources of income and support available to help you manage your household bills and save money in our guide What benefits you can claim and other ways to increase your income
Find out more
Want to find out more about setting up a budget and managing your money? Want to learn about paying off your loans and credit cards? Read our Beginner’s guide to managing your money
Join our Facebook group
Join our private Budgeting and Saving Facebook group for money-saving tips and support from a community of savers.
