It’s hard to escape talk of recession, whether we are in or out of one and whether it’s single, double or even triple dip. What matters to most people is, ‘will their money stretch as far as it needs?’ and what to do if not.
A good starting point is to reassess your outgoings and discover whether you could be better off switching your utility bills to another supplier. Consider all options, including some you may not have thought of before, such as trying British Gas electricity as well as gas, or changing satellite to Freeview.
Cutting back on certain luxuries and reining in expenses where they are not necessary is a great way to cut monthly outgoings. However, there are certain overheads that are essential to the running of your home or business. Where in the past many people have been put off switching electricity suppliers or other amenity providers, this is now commonplace.
Utility bills make up a huge percentage of household outgoings each month, but many people have never considered shopping around for better deals. A common misconception is that changing from one company to another is a long and complex process, when in actual fact it’s fairly simple and in order to create a fair marketplace, companies must not make the transition unnecessarily difficult.
There are many different energy packages available and lots of fuel tariffs for the home now offer fixed or variable rate depending on personal preference. Fixed rate stay locked in at the same price for a set amount of time regardless of the cost of energy, while variable rate tariffs change along with the cost of energy, meaning customers benefit if this price falls. In the same way that some folks are the gambling type, others prefer not to take risks; energy tariffs either offer no risk with no chance of gain, or risk but with the chance of loss as well.
Whilst you’re cutting back on a cheaper loaf of bread to save money, why not compare energy prices online and see if you could be saving on your monthly bills too.
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