Your bills are your choice

Household expenses can get a point whereby you don’t know what you can do about reducing the prices you pay. But, try not to be too negative because there are ways and means by which you can be the judge of what goes out each month.

With money going out on a whole variety of things, there’s always going to be a way of trimming each one down to make a big difference. If you compare energy prices and bundle up your phone and internet services, savings can be found. What’s more is that if you are vigilant and don’t use as much as you before you’ll reap the rewards. Here we’ll take a look at household expenses, and consider how these can be lowered for your benefit.

Mortgage

First things first, we’ll get mortgages out the way. Whether you’re buying a home or looking to re-mortgage, this is probably the biggest expense you’ll have. With a lender offering as much as 10 times your annual salary as a loan, it can be a worrying time when you need to pay it off. But, there are ways and means for you to cut the outgoings on this.

To start with, it’s a case of looking at the rates, length and terms and conditions of each mortgage to pick exactly which one is right for you. After this, you are sort of stuck with it. But, by using a fixed rate to aid budgeting, paying off more than you need to each month and constantly checking for better deals you will be better placed to find top deals.

Energy

As buzz phrases go, the latest government report has seen ‘fuel poverty’ right at the forefront of everyone’s mind. With as many as 8.5 million households expected to fit into this category by 2016, and energy prices still rising all the time, it can be worrying. But, from using less energy in the home to understanding what makes a good tariff, you can find ways of getting the best deal or a switch of energy suppliers.

Top tip: Always try to pay on direct debit, request billing online and combined your gas and electricity to get a discounted dual fuel deal.

Insurance

Life is full of potential minefields, things that could happen which affect us massively. And, after someone figured that out they created insurance. Now, insurance is great and much needed if something does happen, but this is very infrequent and the price you pay for protection can be more than you need, want or can afford.

In the home, cover is 100% necessary. Without it a fire or robbery could see you ruined, and you need to ensure that contents are covered. Always be aware that that building and contents cover are two separate entities, and here are three of the best ways to lower prices:

Reduce risk – Have a look at how you can lower both theft and fire risk around the home. Through having a burglar alarm fitted, using a safe, installing security lighting, fitting smoke alarms and other things like that you will reduce any risks.
Increase excess – If you know what you are most worried about losing, then you will have some idea of what sort of excess you’d be willing to pay. If you decide that you can increase the excess, you can significantly reduce the standard policy premium.
No claims – As with any type of insurance, if you’ve never claimed previously your cost will be lower – plus, you could be entitled to a discount.