ARE YOUR MONTHLY PAYMENTS TAKING UP MOST OF YOUR SALARY?

monthly budget

Does your money fly out of your bank account as soon as it is deposited? If your monthly standing orders and direct debits are eating up most of your monthly salary it is time to start making some changes to your contracts. However much you manage to increase your income, these bills are going to continue taking a sizable chunk out of your paycheque.

 

You may be able to negotiate better deals for your mobile, broadband, insurance and utility bills that will give you some spare cash at the end of the month. Then you can spend it on doing things that you enjoy!

 

Getting a better mobile phone contract

A mobile phone is no longer a luxury. It is a necessity for modern living and you probably organise your social life, shopping, transport and entertainment through your smartphone. It is important to keep up with the latest models because they offer a better service, a wider range of applications and updated software. The downside of that is the cost!  

 

It is easy to rush into signing a mobile phone contract if you think you are getting a good deal but you may be tied into that contract for two or even three years. If you wake up thinking I’ve changed my mind about a phone contract there is guidance on what you can do about it. This useful advice gives provider-specific tips for how you can get out of the mobile phone contract that you feel is not right for you.

Changing your utility provider

Gas and electricity bills will use up a large proportion of your monthly income. The utility industry can be very confusing and it can seem a lot of hassle to change provider but you could potentially save yourself a lot of money.

 

It is best to start by contacting your current provider and finding out if there is any way in which you could reduce your monthly costs. Then start looking around for a better deal. There are plenty of price comparison websites if you are sitting in front of your computer thinking that you don’t know where to start when it comes to swapping utility provider. You don’t have to rush into anything, take your time to make the right decision.

House and buildings insurance

This is an area of your life where you must avoid making a quick saving. You must be careful about keeping your possessions protected, it is important that you have insurance just in case the worst should happen. However, you do not want to have to pay for cover that you don’t need. For example, if you are living in rented accommodation you will only need contents insurance because your landlord will pay for the buildings insurance.

 

You may be able to make your monthly premiums less by opting for a higher excess or a slightly reduced cover. There are many websites that can help you to select the insurance policy that will suit your needs the best.

 

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