Abacus Daily Debt News

I saved £550+ for 20 minutes work

Are you paying for something you don’t need? Are you paying for service you can get elsewhere much cheaper. Are you missing on reductions by not managing an account online?

A quick review of my outgoings showed I was spending £500+ more than I need to. Sometimes, when it comes to money, we are our own worst enemy. “I’ll get round to it tomorrow” will, in the end, cost you a packet. I should know, as I have been meaning to change my energy supplier for around 12 months now.

After much, ahem, encouragement from my other half, I finally sat in front of the computer screen and looked at changing over. I was on a dual fuel package with British Gas and I decided, in the end, to switch to Powergen. This led to an immediate saving of £20 per month, £240 per year, and as I registered my Tesco clubcard at the same time I will now get clubcard points as discount off my shopping bills. With the amount that will accrue over a year I will easily gain the equivalent of a free weeks shopping at Tesco, around £120.

On a roll, I decided to have a look at what else I could save on. Home insurance and car insurances were next, but as I had not long renewed them, without shopping around I might add, there was not much I could do there. Bah!! Black mark to me.

My AA membership was next. I pay £140 per year and am very happy with it, on the odd occasion I have had to call them out they have been superb. However, it was pointed out to me, again by my other half, that we get free Green Flag cover which runs with the bank account we use, as well as free travel insurance for the year. The AA is now cancelled and I will not be buying travel insurance for next years holiday.

All this took 20 minutes or so. Easy. Minimum saving £550. Large companies rely heavily on the “I’ll do it tomorrow” attitude. I advise on peoples finances everyday and I fell into that trap, don’t let yourself be next. Do it today.

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