The age of austerity is here… spending cuts, higher taxes and benefit cuts! In times of recession, high unemployment and rising living costs (e.g. food and energy), reducing expenditure and making savings moves up the list of priorities for most households.
Below are 6 useful tips on cutting household bills and expenditure:
- Reduce money on your utility bills – shop around to find the supplier that’s the cheapest for your useage level and area
- Reduce your insurance premiums – don’t neglect periodically shopping around for more competive premiums on things like home insurance, motor insurance and even life insurance
- Reduce your grocery bill – compare prices on MySuperMarket.co.uk, change what you buy and don’t by ‘stuff’ you don’t need
- Claim for a work from home room – you could significantly reduce your tax bill by doing this if you work from home for an employer or run a business from home
- Rent a room – did you know you can receive over £350 per month of tax-free income from renting out a spare room?
- Reduce the costs of your debt – this could mean a credit card balance transfer, debt consolidation or a starting a structured debt programme
You can find out more about exactly how to do the above from the comfort of your own home here: http://www.moneyminds.co.uk/blog/2010/10/money-saving-tips-household