Five genuine tactics to improve your household expenses in 2019

A new year can often lead to a variety of household bill increases, which can quickly drain your bank balance. On top of this, you might also be juggling multiple bills and debt repayments, which could make you feel a little overwhelmed as you enter 2019.

If you want to firmly steer clear of falling into the red this year, make sure to read these five genuine tactics to improve your household expenses.

Change energy supplier

Most people are paying an extortionate amount of money on their gas and electricity, which could be costing them hundreds of pounds each year.

If you have yet to do so, make 2019 the year you cut your energy bills. Changing suppliers will still provide you with the same electricity and gas, but you’ll enjoy a better deal and, quite possibly, a better billing service with cheap energy. You could save yourself hundreds of pounds annually.

Check your council tax band

Council tax is one monthly bill that’s impossible to avoid. However, many people do not realise they are on the wrong band, so are paying much more money than necessary each month.

It’s surprisingly common, as a quarter of the 42,250 cases made against the Valuation Office Agency (VOA) were successful, which resulted in people receiving money off their bill. If you believe your council tax band is wrong, contact the VOA to review it.

Cancel unnecessary direct debits

Have you got a Spotify Premium or Netflix account you never use? Maybe you took out a gym membership to gain a summer body, but have been just twice since last summer? If so, the time has come to cancel the unnecessary direct debits you never use.

Review how you’re spending money each month. For example, cut down the TV sports package you never watch and cancel the subscription for a magazine you barely read. It could lead to a big saving throughout the year.

An emergency backup plan

Every homeowner or tenant should have an emergency backup plan in place, as boilers can break down, cars might need a new part, and windows can get smashed. If you don’t have savings in the bank, you might be tempted to sell your gadgets or jewellery to quickly pay for an essential repair.

However, not only might you never see the sentimental item again, but you also might receive little return on your initial investment. It might be a better solution to consider convenient online loans that are regulated by the FCA. The repayments can be spread over a set period to avoid taking a large chunk of cash out of your bank and falling into the red.

Ask for your bank charges back

Have you been forced to pay bank charges for breaching your overdraft within the past six years? If you are currently in financial hardship, you could request for the bank to refund the sum back into your account.

While there is no guarantee a claim will be successful, the free process could help you receive your overdraft charges back in full.

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