How to SAVE MONEY FAST with LOWER BILLS | 8 x Ways to Reduce Monthly Outgoings!

How to REDUCE YOUR OUTGOINGS so you can SAVE MONEY FAST. With a recession and job losses just around the corner, now is the right time to try and cut your bills and reduce your monthly outgoings.

Below is a list of common household bills and utility bills that you may be able to save money on. In the video, I provide money saving tips that will hopefully help you to save money on utilities.

Internet / Telephone / TV Package
If you are looking to cut your Internet, Telephone or TV package costs I would recommend contacting your provider before your contract ends. If your contract has already ended you should definitely contact your provider as the retention department will almost certainly be able to lower your bill.

Groceries
I find the best way to save money on grocery shopping is to buy online. This allows you to see the cost of your shopping basket and you can remove non-essential items to help hit your budget

Mortgage
If your mortgage deal has ended, is coming to an end or if your current mortgage does not have an ERC (Early Repayment Charge) then there is a very good chance you could reduce your mortgage payments by switching to a new deal. A 1% interest rate reduction on a £200,000 mortgage over 25 years could save £100 per month. It may also be worth considering adjusting the length of the mortgage to make the monthly payments more manageable.
Mobile Phone
During the contractual period of your mobile phone (usually the first two years) the costs are inflated to cover the cost of the phone itself. At the end of your contract, you may want to switch to a sim only deal - this will reduce your mobile bill substantially. If you are in need of a new phone it may be worth avoiding current flagship phones, flagship phones from the previous year will offer superior value. Also, many mid-range and budget phones will be suitable for most people's needs.

Energy
At least once a year compare your energy deal against other providers - including deals from your existing energy supplier. Even if you are in a fixed contract it may not have early exit fees, or the fees may be low enough to make the change to a better deal worthwhile.

Water
Many people save money on their water bills once they have a water meter installed - it is often cheaper for small and medium-sized families to be charged by their actual usage.

Insurances
Whether it is car insurance, house insurance, or something else - you should never accept an insurance renewal quote. Always call your insurance company to negotiate a discount. If you want to change provider, try starting with a price comparison website to get a list of 3-5 companies who offer cheap insurance quotes - you can then contact them directly for further discounts.

Council Tax
Although you probably won't be able to save money on your council tax (unless it is single occupancy or vacant), it is usually possible to reduce your monthly payment. By default many councils will expect you to pay your council tax in 10 monthly payments, instead, you can request this is changed to 12 monthly payments to reduce the monthly payment amount.

If you have any tips for lowering bills and saving money fast, please share them with us in the comments.

Видео How to SAVE MONEY FAST with LOWER BILLS | 8 x Ways to Reduce Monthly Outgoings! канала Honest Money