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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

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Fibre VS ADSL Broadband

Fibre VS ADSL Broadband

Which deal is right for your household – fibre or ADSL broadband?

The world of Internet connectivity is ever developing since lockdown, with many still opting to work from home.

One key question we should all consider is the choice between Asymmetric Digital Subscriber Line (ADSL broadband) and Fibre broadband; considering various aspects of performance, cost, and environmental impact.

What is ADSL Broadband?

ADSL relies on landline phone connections and has long been the go-to broadband option for households globally.

According to a 2022 Ofcom report, the average download speed for ADSL broadband stands at 12.6Mbps, a figure that can vary based on geographical location, with rural and urban disparities coming into play.

While ADSL holds its ground with advantages such as widespread availability and easy installation, it is not immune to challenges. One notable drawback is the potential for congestion on phone lines during peak hours.

As multiple users share the same line, it can lead to a reduction in broadband speeds, making it less than ideal for households with high data demands during busy periods – i.e. working from home or streaming Netflix after a long day.

What is Fibre Broadband?

Fibre broadband, a technological leap that has gained momentum as phone lines become less essential in the era of mobile phones.

Fibre offers a range of benefits that address the limitations of ADSL. Its significantly faster internet speeds provide a remedy to congestion issues faced by ADSL users.

Moreover, Fibre’s use of silicon dioxide in optic cables makes it a more sustainable and environmentally friendly solution compared to the copper wires used in ADSL.

How are the Two Types of Broadband Different?

Essentially both options do the same thing with the main difference being in the technology underpinnings. ADSL relies on copper wires, a technology that has been in use for decades.

In contrast, Fibre broadband utilises fibre optic cables, either from street cabinets or directly to homes, ushering in a new era of connectivity that promises faster and more reliable internet.

Fibre VS ADSL – Which One Do I Need?

The burning question on many minds is, “Which option is more cost-effective?”

While the initial costs of Fibre broadband, including installation, might seem higher, the long-term benefits make it a more economical choice. The faster and more reliable connection supports multiple devices seamlessly, ensuring uninterrupted broadband speed.

If a loss of internet would have a negative effect on your day-to-day or cause major interruptions to remote working/ smart home security settings, then we believe that fibre is worth every penny – even if just for peace of mind!

Additionally, choosing Fibre contributes to a greener energy output, aligning with the growing trend towards environmentally conscious choices.

Our Expert Broadband Opinion

Fibre broadband has emerged as the gold standard in internet connectivity, offering significant advantages over traditional ADSL technology. Here’s why we believe fibre broadband is the superior choice:

  • Blazing Fast Speeds: Fibre broadband delivers unparalleled speed and reliability, offering lightning-fast download and upload speeds compared to ADSL. With fibre-optic cables capable of carrying vast amounts of data at incredible speeds, users can enjoy seamless streaming, gaming, and downloading without buffering or lag.
  • Consistent Performance: Unlike ADSL broadband, which relies on copper telephone wires and is susceptible to signal degradation over long distances, fibre broadband provides consistent performance regardless of your proximity to the exchange. This means users can experience reliable connectivity and consistent speeds, even during peak usage times.
  • Future-Proof Technology: As technology continues to evolve, fibre broadband represents a future-proof investment in connectivity. With the capacity to support emerging technologies like 4K streaming, virtual reality, and the Internet of Things (IoT), fibre broadband ensures that users remain at the forefront of digital innovation.
  • Symmetrical Upload and Download Speeds: One of the key advantages of fibre broadband is its symmetrical upload and download speeds. Unlike ADSL, which typically offers slower upload speeds, fibre broadband provides equal bandwidth for both uploading and downloading data, making it ideal for activities like video conferencing, cloud storage, and online collaboration.
  • Enhanced Reliability: Fibre-optic cables are less susceptible to interference from external factors like electromagnetic interference and inclement weather, resulting in enhanced reliability and uptime compared to ADSL. This increased resilience ensures that users can stay connected when they need it most, without interruptions or dropouts.

Keen to receive tailored broadband advice from our experts today?

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Find the Right Broadband Deal Today

While ADSL broadband remains a reliable and cost-effective option for many, Fibre broadband emerges as a forward-looking, high-performance solution that aligns with the increasing demands of modern connectivity.

In conclusion, the tussle between ADSL and Fibre broadband is not merely a battle of speed but a comprehensive evaluation of factors such as reliability, environmental impact, and long-term cost-effectiveness. As technology advances and becomes more integral to our daily lives, the shift towards Fibre broadband seems not only logical but also essential.

Embrace future-ready internet infrastructure that meets the demands of a digitally connected world.

What’s more, with our free deal finder tool and unbiased expert advice, it’s easier than ever to find an affordable fibre deal.

11 million homes connected to fibre

Repost from Digital TV Europe.

Are you living in a newly-upgraded full fibre area?

Some 11 million UK homes now have access to fibre broadband, up from seven million a year ago, according to regulator Ofcom’s Connected Nations autumn update.

According to the report, 37% of households can now get full fibre, capable of delivering download speeds of up to 1 Gbps.

This is an increase from 24% a year ago, when just under seven million homes were covered.

The number of properties unable to get a broadband speed greater than 10 Mbps download and 1 Mbps upload has meanwhile fallen by 38% since last year to 83,000.

The number of homes able to get gigabit capable broadband is now almost 20.2 million homes or 68% of all UK homes, up from 19.3 million or 66% at the time of Ofcom’s last update.

Full fibre coverage now reaches 37% of homes, up from 33% in the four months between January 2022 and May 2022, an increase of four percentage points, with just over 11 million homes now covered. Superfast broadband coverage across the UK stands at 96%, with Northern Ireland, the leading region both for full fibre (83% coverage) and gigabit broadband coverage (85%) saw an increase of a percentage point in superfast coverage.

The number of premises unable to get decent broadband, when factoring in fixed wireless and fixed line, has dropped from 99,500 to 83,000 premises since Ofcom’s Spring update.

However, those unable to achieve decent broadband over a fixed line has increased from 506,000 to 513,000 over the same period.

Could you be eligible for fibre?

You can find out for free.

We’ve compared broadband deals from every ISP across the UK.

Tailor results today – all we need is your postcode to find you your next dream broadband plan!