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Author: Internal Customer Services Agent

Starting 2016 with a great money makeover

Now that the New Year is well and truly in action many of us will be looking to start the year right and actually look to save money. With Christmas only last month a number of people from all over the world will most likely be feeling a financial pinch. I think it is fair to say that for many a monthly budget for that time of year could well and truly go out the window. People can often end up borrowing money as well to pay for their items and then of course in December and January it will come the time for them to repay back the debt. This can really make people start the New Year stressed and struggling financially. There can be however many different ways for people to start the year with a positive bang, financially, and start saving money on a large number of different things. Honestly, I know the real start of the year has gone, but following the steps below people may be able to give themselves a huge financial boost with a new money makeover.

Are you one of the millions of people that always keep to the same energy supplier, same insurance firm and have you also had the same bank account as to when you left school. If you do fall into this category then be aware that you could save many hundreds of pounds if you can change these aspects of your life. That can work out to be a great saving that simply cannot be ignored. I think you will be pleasantly surprised by how easy it is to change these and what small amount of time this can be done in. People just need to set aside a few hours, preferably with a computer, and then look to see how much money can be saved. Sometimes with these things the best option over the years really is to switch, switch and then maybe switch again, to ensure that you are always getting the best deal.

Now most of the best deals and saving possibilities are found on the web so if anyone is not comfortable using this then they really should ask for help. It can be possible that a family or friend can help with this providing they know how to browse the internet for the best deals. People really can start to save money and benefit straight away from using these, so as mentioned earlier it really can be too good an opportunity to ignore. Be prepared to negotiate however. Companies may initially resist when customers try to demand a better deal. They may push back but stick to your guns and most of the time you can get the savings that you want. Now using this article I will explain some areas where people can save money providing they take the time. This can, both in the short and long term, help reduce annual outgoings you may have, save money on regular shopping bills and also bring down insurance premiums.

If you use a credit card then this may be something that you can get a better deal on. Typically this would mean getting a new credit card that can offer better things than their existing one. If someone for example was to hold a credit card through say NatWest they may see that an alternative bank or other card issuer may be able to offer them a better deal with what they have at the moment. This may be in terms of a better interest rate, interest free period or even cashback. Some lenders for example can offer a credit card that has 0% interest on balance transfers between 0 to 40 months. This would mean if you had a current balance on another credit card and you changed to a new one that offers the above, you can pay that debt back interest free and save yourself a large amount of interest over a year or longer until that debt is cleared. However, switching cards is not for everyone and if you have bad credit then your applications for this may be declined.

People can then look to change their supermarket or where they carry out their weekly shop. People can then look to save money every time they do a shop. Many of us will stick to the same one because we are familiar with the layout and the products offered. However and many towns have multiple supermarkets, including the addition to the ‘big 4’ of Aldi and Lidl, you may benefit from trying others out. These new players tend to lower their prices to remain competitive and that is when people save money. Some of the larger supermarket chains that can offer a best price guarantee plan, this means if you find it cheaper through another chain, they will refund the difference next time you shop with them.

Another way to save money is if customers switch their insurances. People can often think this is time consuming and to be honest they can’t really be bothered. This should not the case as many can offer savings, especially to new customers. Whether it be phone insurance, car insurance or house insurance there can be a number of different providers that can probably beat what you have been offered and are currently paying already. A good tip here is to know when your policies are due for renewal and then, about a month before, start to shop around. Price Comparison Sites such as Money Supermarket or Go Compare can be really useful when getting quotes. Another thing to do, when you have found a better deal, is to go back to your current insurer and ask them if they can either match or beat it. Many really do not want to lose your business so will often drop their originally quoted renewal price.

This article is not meant to cover all the possible ways to save money, nor is it suggesting that everyone will be able to save money by doing all of the things mentioned. It hopefully shows how all of us can get ‘stuck in a rut’ and for easy just keep things how we always have, whereas with a little effort we may be able to save money.

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