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Money saving tips 2024

Our finance tips for 2024

In 2024, as living costs continue to rise, it’s crucial to examine our money saving habits thoroughly.

For most bill payers, this includes your phone bills, broadband, energy efficiency, and subscriptions.

Aside from obvious money saving strategies, such as budgeting, we’ve highlighted a few less common hacks to help you save money.

Let’s explore some strategies to optimise money saving for each category:

Phone Expenses

With mobile phone ownership exceeding 90% and landline usage declining, it’s time to reassess our phone bills. Here are some tips to consider:

  • Check your contract status to see if you’re overpaying.
  • Explore options like switching providers or negotiating better deals.
  • Consider social tariffs for cheaper broadband if eligible.
  • Opt for SIM-only plans, especially if you own a handset.
  • If you still rely on your landline, bundle your services to save up to 34%.

Broadband Bills

A more complex tip which involves initial costs before money saving is transitioning to fibre broadband.

Overall, it offers better value in the long run, providing faster speeds when most needed.

This is especially true if you experience losses due to poor broadband. This includes not being able to work remotely, or having a smart home security hub that frequently drops out or disconnects.

To read more please visit our previous blog post.

Other ways to optimise your broadband expenses include:

  • Negotiating your broadband deal strategically, especially when your contract is ending or during promotional periods.
  • Research competitor offers and use them as leverage during negotiations.
  • Clearly express dissatisfaction with your current package and your willingness to switch providers if necessary. This can sometimes lead to compensatory money.
  • Highlight your loyalty as a long-term customer to inquire about loyalty discounts.
  • Utilize online tools and forums for additional support and guidance.

Energy Efficiency

Improving energy efficiency not only lowers utility bills but also reduces environmental impact. Here are some energy-saving tips:

  • Invest in energy-efficient appliances like LED light bulbs and smart thermostats.
  • Ensure proper home insulation to prevent heat loss.
  • Optimise heating and cooling by adjusting thermostat settings and installing programmable thermostats.
  • Adopt energy-saving habits in your daily life. This includes turning off lights and electronics when not in use.
  • Use your washing line or clothes maiden instead of a tumble drier.
  • Explore renewable energy sources like solar panels or wind turbines.

Subscriptions

Managing subscriptions efficiently can lead to significant savings. Here are some of our helpful tips:

  • Regularly review your subscriptions to assess their value.
  • Bundle services for discounts.
  • Negotiate better deals with subscription providers.
  • Take advantage of free trials to test services before committing.
  • Share subscription accounts with family or friends to split costs.
  • Opt for annual payments for additional discounts.
  • Keep track of renewal dates and use discounts or coupons to save money.
  • Downgrade plans if you’re not fully utilising higher-tier subscriptions.
  • Explore free or lower-cost alternatives to paid subscriptions.

By implementing these strategies, you can better manage your budget and achieve long-term financial stability in 2024 and beyond.

Which Expenses are Going up in 2024?

Unfortunately, annual inflation is common – and 2024 will be no exception.

We’ve covered the main household costs due to soar this year and advised on how to counteract them.

Council Tax

Council tax, a major monthly expense, typically increases in April.

While Scotland enjoys a freeze until April 2025, the rest of the UK awaits news.

Councils in England can hike taxes up to 5% annually, potentially adding £103 to the average bill.

Despite calls for fairer collection methods, missed payments can still lead to consequences.

Explore options like payment rescheduling, hardship relief, tax reduction, or challenging your property’s valuation.

TV Licence Fee

TV licence fees are set to rise to £169.50 in April, a £10.50 increase.

This is below the expected inflation-linked rise, offering some relief.

Renewing before April can lock in the current price.

Additionally, individuals over 75 receiving Pension Credit are eligible for a free licence.

Energy Bills

Energy bills may surge by up to 5% in January due to rising energy price caps.

Mitigate costs by ensuring accurate meter readings, questioning changes, and adopting energy-saving habits.

Mobile and Broadband

Mid-contract price hikes are common in mobile and broadband contracts, with some providers planning increases of over 8% in 2024.

Explore switching to a provider without mid-contract rises or negotiate with your current provider for a better deal.

Insurance Premiums

Home and car insurance premiums have soared, with the average quoted price rising significantly.

Shop around for better deals, consider annual policies, and compare ratings to find the best insurance options.

Mortgages

Mortgage rates have increased, driven by a freeze in the base rate.

Consider switching deals if nearing the end of a fixed term, or, seek advice from a mortgage broker to navigate your options effectively.

We recommend staying in the loop by checking out local money saving sites and news outlets.

Your suppliers also have a duty to inform you about any upcoming price hikes.

Cut your Household Bills With Switch Experts

Ready to find a new fast and affordable broadband provider?

In just a few clicks, we can help you see how much you could be saving on your broadband bills.

Simply search your postcode and browse our latest available deals.

 

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Tired of paying high prices for internet?

We know how to uncover the cheapest broadband plans in your area

Maybe your contract is due to end and you’re not happy with the new plan your supplier offered you.

Or, perhaps you’re just looking for more lesser-known ways to save money right now (who isn’t?!)

Read on to learn how and where you can find the cheapest broadband deals in your area – without ever sacrificing speed or reliability.

How to find the cheapest broadband deals

We’ve got a few crucial tips that will help you find the cheapest broadband deals in your area.

By following our expert advice, you’ll soon be able to trim down your monthly expenses whilst still enjoying a seamless and well-suited internet connection.

  1. Assess Your Usage.

Understanding your internet usage is crucial in finding a deal that suits you. If you’re a light internet user, you might not need the fastest speeds. A lot of households find that they end up paying for high Wi-Fi speeds that they don’t even require – the average household only needs 30Mbps to function smoothly online.  However, if you’re a heavy gamer, home worker, or frequently stream in 4K, opting for a faster fibre plan would be worth it to save you from a lot of frustration.

        2. Check for Bundles.

Many providers offer bundled services, combining broadband with TV and phone services. While this might seem like a good deal, ensure that you genuinely need these services. Sometimes, standalone broadband deals can be more cost-effective. This is something you can tailor through our free deal checker.

        3. Consider Contract Length.

Providers often offer different contract lengths, typically 12, 18, or 24 months. While longer contracts might come with slightly lower monthly costs, they can lock you into a deal that might become less competitive over time. If you’re not comfortable with a long commitment, shorter contracts might be a better option.

       4. Negotiate with Your Current Provider.

If you’re already with a broadband provider and you’ve found a better deal elsewhere, don’t be afraid to negotiate. Sometimes, providers are willing to match or even beat competitors’ offers to keep you as a customer.

         5. Read Reviews.

Before committing to a new broadband provider, read reviews from current and previous customers. This will give you an idea of the level of customer service, reliability, and overall satisfaction you can expect. This is another factor our experts take into consideration for you, and we only work with reputable and trusted suppliers.

          6. Keep an Eye on Hidden Costs.

It’s key to consider any additional costs such as setup fees, line rental, and installation charges. This is something our experts are trained to spot and they can discuss this in detail with you, because hidden costs can quickly creep in and add up.

         7. Research – Don’t Go In Alone.

The world of broadband is vast, and it can quickly get expensive if you don’t know where to look. Instead of manually comparing quotes and websites alone, we’ve made it easy to search offers in one place.

Where is the Best Place to Find the Cheapest Broadband Deals?

Right here, with our experts!

There are a lot of sites and services that help make it easy to search broadband deals, however, Switch Experts will never charge you a penny.

You’re guaranteed to save time and money this way, instead of manually trawling through separate sites.

It’s also fairly common to be charged more when you go directly to the supplier.

How do I Switch?

At first, the idea of switching broadband suppliers might seem daunting, but the potential savings are well worth it.

Our experts are here to make the process as fast and as easy as possible.

With Switch Experts, it’s as easy as 1, 2, 3 to find a new deal.

You search and tailor deals available in your area, we confirm the switch over, then you get to enjoy your new plan and your shiny new savings! Our team will also tailor their advice to you personally, looking at your current contract and internet needs.

Get started today and find your new deal in no time.