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Discover more joy in your budget

If you have finished decluttering your house, consider organising your bills!

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By now you have probably heard or partaken in the decluttering trend, and we believe the concept can translate to your finances. Have you ever thought about reviewing your bills to save money? You could save thousands of dollars a year by doing an audit of your current bills and shopping around for a better deal. Here are a few handy tips to show you how to save money.

1. Review your bills regularly

Reviewing your bills may seem like a lot of effort. Logging into your energy, broadband, mobile phone account can be time-consuming and remembering all those passwords is enough to put anyone off. However, if you set some time aside and do so, you’ll know exactly what you’re paying on each account. List these outgoings in a budget spreadsheet so you have it to hand so each month you can check if your bill provider has added on any additional charges. If they have, question them on it. It could save you a lot of money that you didn’t know you were spending.

2. Check your services

If you’ve had the same service provider for years then you may have additional services in your package that you don’t use. When signing up to a new service provider there are usually introductory free additional services that after time you’ll start to pay for. If you’re not using this additional service then you’re wasting money. Call your provider to check what services you have in your package and ask if you can get rid of it to reduce your bill.

3. Call your providers

If you’re a long-standing customer you should call your provider annually to ask what current offers and promotions they have on for being a loyal customer. You may be able to get a better service for a better price. Companies tend to change their pricing every so often so it’s worth picking up the phone and seeing if you can save yourself money.

4. Check your bank statement

If you have lots of direct debits going out of your account it’s essential to stay on top of your finances and check your bank and credit statement regularly. You could be being charged extra that you weren’t aware of or perhaps late payment fees. If you don’t look then you could end up paying unfair charges. Don’t be afraid to question these fees with your bank or service provider, you may be able to get the charge reversed which can sometimes equate to a lot of money.

5. Shop around

It can be easy to stay with the same bank, the same energy supplier, the same insurance company forever. Sometimes it may seem more hassle to swap but you could save yourself a ton of money by doing so. Do your research and look for the best deals. Plus, if you tell your current provider you are moving to one of their competitors they may offer you a better deal.

6. Review your subscriptions

When did you last do an audit of your subscriptions? It’s easy to sign yourself up to lots of apps, streaming services such as on demand streaming TV services, off-line subscriptions like magazines and wine clubs over the years. The question is do you even use half of them? All these little charges add up to a significant cost and a wasted one if you aren’t using them. Think of the savings on your everyday account if you sit down and check over your statement of what subscriptions are outgoing each month. Cancel any of them you don’t use and save money.

Organise your finances and follow our helpful tips to save money. You might be amazed at the savings you’ll make. Be more money-savvy and put the extra cash into your savings. You’ll be on your way to achieving financial joy.

This article is intended to provide general information of an educational nature only. It does not have regard to your objectives, financial situation or needs and must not be relied upon as financial product advice. Before you act on this information, you should consider whether it is appropriate for your circumstances. Information in this article is current as at the date of publication. Applications subject to credit approval and fees and charges are payable. Terms and conditions apply and are available on request.

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