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Three lesser-known ways to cut your biggest bills

Three lesser-known ways to cut your biggest bills

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Most of us are already doing many of the most obvious things to save money. We shop around for the best deals, track our spending, and think before we spend. But there are a few additional things you could be doing. Ones that are not discussed that often. This is what this article is all about.

Signing up for a broadband-only package

When it is time to renew our broadband package most of us go online and visit a compare and save website. We plug in our details and choose the cheapest deal. But very few of us look further than that. We rarely think about changing the type of package we sign up for. It just does not cross our minds to do so. There is a tendency to stick with what we know and continue to use a package that provides us with what we are used to. Partly because it is not something we understand well and partly because our connection to the internet is just too vital to mess around with.

This is a shame because it is actually fairly easy to save with broadband only packages or something else that is a little different. A broadband-only service is something that many more UK households can now sign up for. In the past, everybody who wanted an internet connection had no choice but to have a landline too. This is because the internet connection was delivered to the house using the landline copper cable.

Now, that is changing. Increasingly people live in areas that have cable or full-fibre. They can potentially sign up for a broadband only package and get rid of their landline rental cost. Of course, you should still compare all of the deals not just assume that broadband-only will automatically be cheaper for you.

For instance, if you find your internet slow at night then it is vital that you find an ISP that can offer fast internet speeds all day long. No one should have to pay over the odds for an internet connection that is not fast enough and therefore compiling a shortlist of a few different ISPs can help you to get the internet speed you need at the right price for your budget.

Club together to significantly reduce your heating oil bills

After several years of relatively low prices those who heat their homes with oil are facing rising costs. Prices are going up sharply. Take a look at this graph and you will instantly see that this is the case.

It is possible to shop around for heating oil, as it is for any other type of fuel, and you will save money just by doing that. As you will if you keep an eye on the heating oil price and order when you see it start to drop. Both approaches help, up to a point.

Now, you can also join a heating oil club and save that way too. Several have formed recently. They are a simple way for businesses and homeowners to club together and buy collectively. The fact that the club is buying large quantities of oil provides them with bargaining power, which enables them to negotiate a better deal for their members. Often, the savings are significant.

Of course, you need to do a bit of research to make sure that you understand how the club you are joining works. The last thing you need is to discover that your annual membership fee swallows up most of or all of what you are saving. Or that deliveries are so infrequent that you end up running out in the dead of winter. Fortunately, the best clubs are more than aware of these potential issues and have found ways to get around them. For example, this club does not charge a membership fee, which is good. Although I still recommend that you read up about them fully before joining.

Rethink your insurance coverage

We all have multiple insurance policies, which swallow up a significant percentage of our income. Reducing the cost of your home, content, vehicle, health, pet, and travel insurance policies will make a huge difference to how much spare cash you have.

Again, shopping around and using price comparison websites to help you to do so works well. But you can take things a step further by making sure that you only buy policies that provide coverage for what you need. Instead of buying the level of coverage, you have always done. Stop and ask yourself what you need and buy accordingly.

For example, if you recently sold that gold necklace or had it broken up and turned into bracelets for the kids you want to make sure it is no longer listed on your policy. If you no longer own expensive items, you may not need such a high level of content coverage. In-depth insurance guides like this one will provide you with the knowledge you need to make informed decisions. Or to at least ask your insurance provider the right questions.

The above are just 3 extra ways to save money. As things change more opportunities are arising, which is why I watch what is going on and quickly share new money saving methods via this website.

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