Whether you have lots of disposable income or live on a very tight budget, reducing your monthly outgoings where possible is always a good idea.
Perhaps you are saving for the holiday of a lifetime, or maybe you don’t want to feel so restricted with your money. Whatever the motivation, making a few changes here and there should help you achieve your goals.
Here are 4 simple ways to reduce your monthly outgoings.
Extended Warranty cover for your Vehicle
If you find yourself forking out for replacement car parts every few months or maintenance issues are becoming more frequent, an extended warranty might be the answer. Cover varies from company to company, so it’s worth spending a bit of time figuring out which policy might suit you best.
When comparing cover supplied by Endurance Vs. Protect My Car, for example, there are differences in maximum mileage, as well as which parts cover, so you should always do some research before making a decision. Whichever you decide to opt for, you will likely save a fair bit over the lifetime of your policy.
Is it time to Remortgage?
Your mortgage is probably one of your biggest outgoings each month, so it makes perfect sense to reduce your premiums where possible. The best way to do this is to remortgage. This, of course, is assuming that you are not tied into a mortgage product at the moment and won’t encounter any hefty redemption penalties.
Switching lenders or moving to a different mortgage product can vastly reduce your monthly mortgage payments and, in turn, have a substantial impact on your disposable income. If you aren’t sure where to start, visit an independent mortgage broker who will present you with some of the best options based on your loan to value and outstanding mortgage term.
Save Money on Grocery Shopping
Meal planning is just one of the many ways to save money on your grocery shopping each month. Instead of a last-minute dash to the grocery store, plan your weekly meals and shop in advance. Not only will it reduce the amount you spend, but it will make the whole experience far less stressful too.
Another great way to save on grocery bills is to reduce the number of big-brand items you buy. Grocery store brands can taste just as good but cost far less, so if you haven’t yet tried them, try making the switch.
Have Your Boiler Serviced Regularly
Energy costs are rising, so there has never been a better time to reduce your heating bills. Making sure your boiler is working to its capacity is one of the first things you should do. If it’s not, it will have to work harder to heat your home, so have a qualified engineer service it at least once a year to ensure it’s in tip-top condition.
The more efficient your boiler, the lower your bills should be, so if it’s very dated or not working as well as it should, it might be time to have it replaced.Crocs Unisex Men’s and Women’s Classic Clog, Black, 11 US Best Deals On Amazon Prime