Save Money Before Christmas Without Putting Cash Aside

Facing an unexpected expense, such as an urgent home repair or car breakdown, can hit hard, especially if you are living month to month. MoneyPlus data states that when asked in a survey whether people ever faced an unexpected cost that they couldn’t afford, almost half (43.6%) said yes. The age group most affected by this was 29-44 year olds (44.7%). 

As Christmas draws closer, unexpected costs can hit harder. Here, Anel Andrew at MoneyPlus reveals how to save up to £400 by Christmas without setting aside a single pound.

• Contact your utility providers and negotiate – before doing this, make sure you have an idea of an average price across competitors and see if you can get your current provider to bring your price down.
• Check with utility providers for exemptions – for instance, all water companies offer a social tariff for customers who are eligible, and this will reduce the cost of water bills.
• For council tax, look into extra support or for a reduction – if you are on a low income, a student or living alone or disabled you may qualify for support. In addition, there are many homes that are in fact in the wrong council tax band, and you have every right to challenge the band you are in. However, although this may bring your tax down, there is a chance that your band may go up, and so will your bill. 
• Find Small Ways to Cut Costs – With prices rising, look for ways to cut everyday expenses. This could include switching to cheaper supermarkets, asking your utility supplier for an energy monitoring system, cancelling unused subscriptions, or shopping around for better deals on insurance and mobile contracts. Even small savings can make a big difference when managing debt.
• Seek Professional Debt Advice – If your debts are becoming unmanageable, reach out to a trusted debt advice provider. There are various solutions available, such as IVAs (Individual Voluntary Arrangements) or Debt Management Plans or even a temporary protection such as Breathing Space, which could help ease the burden.

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