Ongoing monthly services seem like part and parcel of everyday life these days!
Pretty much everyone I know has a phone contract, watches all the latest shows on Netflix, and a lot of us now choose to lease our cars over buying new or used.
I don’t know about you, but I’m obsessed with getting the best deal on all my monthly contracts!
It’s a great feeling to know you’ve managed to score a good deal because you don’t want to get locked into a monthly service that rips you off time and time again each month do you?
Here are five simple ways to quickly reduce your outgoing and ensure that you get the best value on all aspects of your life.
Cut Down Your Home Entertainment Package
Your home broadband and TV package is probably one of the biggest things you’re wasting money on.
To avoid overpaying on broadband, run a speed test to check that you are getting the internet service you pay for.
Follow this up by cutting out premium TV channels and packages and opting for the Netflix streaming service instead.
We’ve never paid for tv channels and only use Freeview and Netflix, and I personally never feel like I’m missing out on anything.
If you’re looking to get a good deal on a combined broadband and TV package, make sure you look around and try haggling to get the best deal!
It’s also worth looking reevaluating any music services too and may help you save well over £50 per month in total.
If you’re on Spotify for example, you can get three months for 99p and after that you can opt for a family package, which can save you loads of money if your whole family uses it.
Rethink Your Phone Plan
First and foremost, you should consider losing the landline if you don’t use it. It’s such a waste of money!
Secondly, finding a deal that is suited to your usage and budget is vital to saving money.
Xfinity Mobile offers a range of plans to help you get the best deal for you.
While we all want a good smartphone, there’s no point in getting yourself into debt for the iPhone X or another new handset!
I learned this the hard way after chasing the next new iPhone for years and overpaying to get out of my contract early.
Now I’m off the hamster wheel and on a sim only plan, I feel so much better and I’m only paying £8 a month, instead of blowing an astronomical £40/50!
After all, older models do the same job and quite often newer model upgrades definitely aren’t worth the money.
Lease A Car
Vehicles are the second biggest purchase you’ll make after your house.
Unfortunately, depreciation means that the new car will lose a lot of value as soon as it leaves the dealership!
Choosing to lease a car instead, particularly if you can do it through work, may actually work better for you than buying one you can’t afford.
The yearly costs will be less than the depreciation, while you’ll also have better coverage on the road should accidents occur.
That’s a huge win in anybody’s books!
Join The Gym
This is a funny one as most money-saving guides would suggest actually quitting the gym if you’re trying to save money, and I’d agree with them.
That £30-£100 per month could be used elsewhere!
However, if you actively go and consider yourself a die-hard gym buff, it can work out as little as a pound per session depending on how often you go.
You won’t find a cheaper hobby anywhere while it’ll also encourage you to drink more water, cut down on the booze and skip expensive naughty treats.
In a roundabout way, this can help you save for Xmas!
Conversely, if you’re not using the gym, then definitely cancel and try running or cycling instead.
Speak To Your Providers
Whether dealing with energy providers, TV packages, or any other monthly bill, the harsh reality is that companies often won’t give you the best deal by default.
Especially if you’re already a member!
Use a price comparison to get other quotes and find out the new customer deals offered by the company.
This information can be used in a phone call to secure a significant discount on the price!
You could literally do this in a morning and if you go through all your bills, the savings can be huge.