Anything that allows you to potentially save over £1000 is worth having a look at, especially when it can be relatively painless and can be done relatively quickly. The easiest way to save money is to search for the best deal we can get, yes this sounds simple but too many of us just accept the deal we are given and let other things slide without checking up on things.
We are going to look at 5 simple ways that taking a little bit of time over can save you a lot of money.
Are you using the right current account?
There are so many options available when it comes to bank accounts with more and more options and added extras like travel insurance and break down cover making there way into banks. Adding these types of products on to bank accounts has meant that a lot of accounts you now need to pay for, the reality is that you can get pretty much all the products they offer cheaper if you buy them separately if you shop around. Don’t pay for your bank account if you don’t have to, you will more often than not be wasting you money.
Another important aspect of your bank account is how much of an interest free overdraft is available to you, hopefully you don’t ever need it but if you are going overdrawn on occasion then if you don’t have to pay for it you shouldn’t.
Have you cancelled all inactive direct debits?
This is something we often miss because we assume that once a subscription or contract has been cancelled that payments are automatically stopped, they should be but this is not always the case unfortunately. Always make sure to cancel direct debits with your bank so as not to pay any more than you need to. Also check for recurring payments set to come off your debit or credit card as you may need to cancel these with the company you are making payments to if you no longer require the services they offer.
Do you have the right mortgage?
Just now is not exactly the best time to be going for your first mortgage with banks reluctant to lend at times but if you are able to switch your mortgage to pay just 1% less then you could save your self hundreds of pounds a year. Compare mortgages online and see what it costs to get out f your existing mortgage, this could prove a stumbling block and not make it worthwhile however if you can get out or even switch your mortgage with your current provider then you could save a lot of money. Remember though you should take advice from an independent mortgage advisor to find the best type of mortgage for you whether that be fixed, variable or one of the other options available.
Are you getting the best deal on you car and home insurance?
These tend to be insurances we just renew every ear without really shopping around but taking a while to look around online could save you hundreds of pounds. Comparison websites makes this very quick and simple now but remember there are a few companies like Aviva and Direct Line that aren’t on comparison sites so it may be worth checking these separately.
Do you have the right credit card?
If you can pay off all your balance at the end of the month before interest is charged then great but if you are keeping balances on the card you might want to look for a card that has a low interest rate or even a 0% interest for however many months. Managing your credit card more efficiently can save hundreds in interest charges which is more money in your pocket and not the credit card companies.
Related Posts
Tags: Bank Accounts, Banks, Best Time, Credit Card, Current Account, Direct Debits, First Mortgage, Insurance, Interest Free Overdraft, Little Bit, Lot, Money Saving Tips, Money Search, Money Tips, Occasion, Right Mortgage, T Pay, Travel Insurance
Voucher Alerts offers money saving tips and guides on how to save money on your online shopping. We provide the best save money advice and help you find the best 