With so much more than just your rent or mortgage payments to consider, it can be easy to become overwhelmed with bills and feel like you are working so hard for nothing.
We all need that little extra to enjoy life and be sure that we’re not forgetting to look after ourselves and our family.
We thought it would be useful if we gathered some information on people’s outgoings so that you could get a realistic figure as to how much you can afford to go out every month.
The first thing you need to is budget.
Write down everything that comes in and out of your bank. Include groceries, quick trips to the shop and petrol.
You can start to see where the majority of your money goes by writing everything down and it makes it easier for you to budget. Can you be shopping at a cheaper super market or getting cheaper fuel?
Make sure you always round up with your estimates so that you’re budgeting above. This way you may save a little extra every month too.
Now tally up everything that you pay out monthly and see if you can get it cheaper.
Gas and Electricity-
Do you know you provides your gas and electricity? A lot of us don’t consider changing our provider, but it could be a lot cheaper for you. If you live in a more energy efficient property, then your bills are going to be cheaper. Find out how you could be saving by reading How Going Green Can Save You Money.
You might want to consider swapping to a meter rather than paying a flat monthly rate. If there are only a few of you living in one house, you will use a lot less water than a larger family. This also allows you to save little bits each month if you use less.
Depending on your property type, you are required to pay a certain amount every month to the government. This depends on the size of the property or the amount of bedrooms. You can calculate your council tax charge online by entering your address to find out what property type you live in.
You can’t avoid the amount of broadband deals there are out there. You have to figure out which one is best for you. You would be surprised at the discount you can get by speaking to the provider themselves and striking a deal.
In some instances you may not be able to swap your broadband provider because of where you live. Some blocks of flats make deals with certain providers to ensure they all use the same company. If this is the case you can request special deals and get a cheaper rate.
A lot of the time your television package and broadband come hand in hand. This can work out cheaper than going with separate providers. A lot of companies will be happy to give you discount if you are willing to sign up for both TV and Broadband.
Don’t forget to include the cost of your TV license too. If you don’t watch much television, you might just want to stick with regular Freeview and save a bit.
As you know you can get insurance for almost anything. Be sure you’re getting the best property insurance deals by comparing our range of insurers.
If you’re a tenant, you will only need to budget for your contents insurance, homeowners will need Home Insurance, and Landlords can get specialist policies to cover Legal Expenses and Rent Guarantee as well as covering their properties fixtures and fittings.
Use comparison websites to get the cheapest deals. Remember to include your pet insurance and car insurance too.
If you’re renting, you may have to pay a service charge for the general upkeep of the property and gardens. If you’re confused about the responsibility in your rented property, you can read Who is Responsible for Garden Upkeep.
One commonly overlooked expenditure can be your travel expenses. Calculate how much you’re spending each month on fuel or public transport and figure out what is the cheapest way for you to travel.
Don’t miss out any personal direct debits you may have leaving your bank every month. Always try and look for something cheaper or go out of your way to speak to any providers and you may be surprised at how much you can save.
By saving a few pounds each month you automatically allowed yourself some extra freedom when it comes to doing things with the family. You now have a little extra for a holiday or to have trips out on the weekends.