Best Budgeting Tips For Running A Tight Ship

Most people tend to get into a routine with their monthly bills and payments, if everything is working well enough then there’s no great need to change anything. On top of that, it takes time and effort to phone up energy companies and insurance companies to try to get a better deal. But if you take some time to consider the overall benefits of streamlining your monthly budget you could find that you not only save considerable sums of money each month -money that’s in your pocket instead of someone else’s – you will feel a guaranteed satisfaction that everything is under control, and sailing along nicely. 

Energy 

It’s estimated that average households lose out on over a thousand dollars a year because of an inefficient energy plan. That’s money that could be used for a short city break, or some home improvement. Instead, it goes to an energy company that is in the business of overcharging people. Seriously, your loyalty is not rewarded the longer you are with a company, in fact, it’s the opposite. Compare the market for the best energy deal and switch suppliers. It will save you hundreds of dollars every year. 

Mortgage 

A mortgage is one of the most significant monthly financial commitments we make, but it can be reduced with some savvy budgeting know-how. 

Whether you are taking out a mortgage for the first time or renewing your it, it’s a good idea to shop around for the best interest rate. Most lenders will allow you to benefit from the current rate on a new loan. Before you go shopping, check the lenders in the marketplace for the best prices. Take a note of the rates and make sure to negotiate with lenders. Consider a mortgage broker too to get the best deal. 

Internet 

When it comes to household internet it’s important to get it right, but getting it right can be a balancing act. First of all you need to do a household audit. Some households are paying too much for Internet they aren’t using, others need faster internet, for gaming say, at the lowest possible cost. You can check your usage by contacting your provider and getting a rundown of the data. This data can then be used in the marketplace when shopping around for the most efficient deal. 

Insurance 

For those who drive a car, insurance can be a big monthly cost. Especially when you consider all of the other expenses that go with driving. The road tax, the fuel costs, repairs and maintenance, as well as the cost of the car itself. It pays then to shop around for the best price on your insurance, the one factor you can control. There are some excellent ways to reduce your annual insurance quote: limit your mileage, pay a higher excess, don’t pay by direct debit. If you need a lawyer find out more at ariccramer.com.

Saving 

Running a tight ship is not only about being shrewd with your bills and direct debits, it’s also about general savings and being smart with your income. Establish a monthly household budget. At the start of the month, make it a test month. Get a receipt for everything and mark down the date and amount for every direct debit. Organize this data into categories and make decisions on what to prioritise. You can also see where you are spending more than you need too – just remember to be realistic.