How to save money on your bills

Through our experience at Bosworth Wealth Management, we have found some great tips that you can do to help your money go further.

Your mortgage

If you haven’t reviewed your mortgage deal in a while and aren’t tied into a deal, you may be able to save by switching your mortgage to a different lender or to a cheaper mortgage with your existing lender. This particularly applies if you’re paying your lender’s standard variable mortgage rate.
If you can’t pay your mortgage because of coronavirus you might be able to get a three-month payment holiday.

Council tax

If you already get Council Tax Support you could be eligible for a further reduction in your bill under the newly created £500m Council Tax Hardship Fund.
If you’re living on your own or all the people in your household are under 18, you are entitled to a 25% discount on your council tax bill.

Energy costs

Staying at home more in recent times means your lights, boiler and appliances will be on more than ever, leading to higher energy bills. If you want some tips on reducing your energy use, take a look at the ideas on the government-endorsed website Simple Energy Advice.
If you’ve never switched energy supplier before or haven’t done so recently, this could be the best way of reducing your bills significantly – possibly by several hundred pounds a year.

Subscriptions

If you’ve got a spare 10 minutes, scan your bank statements for any unwanted or unused subscriptions you’ve got and cancel them.

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