Pay by direct debit
If you have several outgoings each month, it can sometimes be impossible to keep a track of what bill is due and when. If you set everything up to be paid automatically by direct debit you can relax knowing you won’t be incurring any late payment charges. Also many companies offer discounts to direct debit customers as it reduces admin costs for them.
Pre paid prescriptions
Do you have regular repeat prescriptions for certain medicines from the doctor? With each one costing more than £7, a quarterly pre paid prescription of £28, with unlimited items, can certainly save a lot of money.
Install an energy monitor on your electricity meter
This will help you see how much you are spending in pounds and pence in your home, and what savings can be made by reducing usage.
Turn off your appliances
The average household wastes up to £37 each year just by leaving appliances on standby. Turn everything off at the plug before bed and save money, energy and carbon emissions.
Find out more at www.byebyestandby.com
Shop around for your energy supplier
The power of the internet and price comparison websites enables us to pick and choose which supplier is the cheapest. You could save over £200 a year by finding the right supplier for your circumstances.
Credit Cards – switch to a 0% rate
Two thirds of people in the UK have one or more credit cards with an average debt of £3,256 per person. Collectively we pay over £9bn a year in credit card interest. By transferring an outstanding credit card balance to a 0% deal, on average you could save £443 a year.
Change to a water meter
Unlike gas and electric, water companies are privatised, meaning no switching for better deals. However there is a way to potentially save money, by switching to a water meter.
The average un-metered bill in England and Wales is £362, while the average metered bill is £309 – though it varies heavily with region. Water companies have to fit a water meter free of charge on request (excluding Scotland). Find more at www.moneysavingexpert.com/utilities/cut-water-bills
Use one supplier
Many suppliers of TV, broadband and telephones offer "all-in-one" package, where you get all the services from the same provider resulting in significant savings. Moneysupermarket.com claims that many people could save £450 a year by combining their broadband, television and home phone deals. Duel fuel billing is another way to reap in the savings with utility suppliers.
Overpay your mortgage
This may seem like a bad way to save money, but in the long term it could save you thousands of pounds. Overpaying now, even if it’s just a small margin, can save thousands of pounds in interest charges in the long run, and will mean you pay off the loan sooner.
Increase fuel efficiency
Make sure you regularly check your tyre pressure as low air pressure can increase fuel consumption. Also try and monitor the speed you travel.