The economic situation in the UK is dire to say the least, with inflation going skyward and interest rates trapped at a disturbing low. With the housing market also facing a mild chaos it is clear that there may be a little bumpy road ahead for the UK. It is therefore important for UK residents to find ways to reduce their spending drastically since income and wages still remains stagnant. One of the ways to do this is to reduce the amount being shelled out on essential bills that are ferociously eating up on one’s income.
Yes there are certain utilities that are essential not just for survival but also for habitation, however, many of the services that are rendered to individuals are more like luxuries rather than necessities. By limiting the amount paid for some of these services one can cut down on expenditure and free up funds for more pertinent expenses.
Using a cheaper mobile phone plan
It is advisable for one looking to cut down of costs to choose mobile phone plans that will not impact his or her savings negatively. When choosing a contract from telecom companies, one should always be shrewd in picking the most cost-effective plan available; and if there isn’t one, negotiating with the telecom company should be the next step.
Cut down house phone and broadband bills
With so many internet services and network providers available, this should not be a difficult task to accomplish. There is no need to waste funds on broadband services that aren’t really needed, especially when one also has a mobile internet service that is capable meeting one’s need. Finding a cheaper internet plan isn’t difficult either, with several price comparison websites available to assist individuals seeking cheaper plans.
Reducing gas and electricity bills
While both these are essential amenities necessary for proper habitation, there are smart ways by which one can limit the amount spent on them. The most obvious way to reduce expenses on gas and electricity is to change the tariff plan in use. One can save an average of £250 on a yearly bill by simply switching tariff plan; and by using energy saving appliances, the energy rate being billed is certain to fall drastically.
Another common trick used by many is to reduce the thermostat by only 1%, which helps in cutting down the heating bill by at least 10%.