Spring Cleaning Your Spending
By |Published On: 27th May 2015|

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Spring Cleaning Your Spending

By |Published On: 27th May 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Now is the perfect time to spring clean your home, but this is also a great opportunity to have a thorough look at your finances. It is always a good idea to reorganise, make some extra cash and get the most out of your funds.

Read through the following tips and see your money grow:

  1. Find the best deals

It is always wise to save some money where you can and get the best deal out there. It can take time, but make a list of providers for each service. Research their offers and negotiate to match the deals you’ve found. However, look out for any penalties for leaving contracts early.

You could find great deals for:

  • Energy
  • Broadband and telephone
  • Mobile phone
  • Home insurance
  • Car insurance
Spring Cleaning Your Spending

Spring Cleaning Your Spending

You can also look around at different mortgages. Rates are very competitive at present and you could pay less every month by remortgaging.

Note in your diary or calendar when all of your contracts end. This way, you will be prepared for searching for better deals and avoid automatic renewals.

  1. De-clutter

When you’re spring cleaning your home, look out for anything that you don’t need, use or want. You could sell items and objects on eBay or Gumtree and earn yourself some spare cash.

  1. Your bank account

Either using online banking or paper statements, take a look through your bank account at any odd payments or high figures. You may have been overcharged or even be the victim of fraud. It is always sensible to review your spending.

Check any regular payments, such as Direct Debits. Look for any amounts that aren’t correct or double payments. If you find an error, the Direct Debit Guarantee protects you, so you can receive a refund from your bank.

Analyse your auto-renewals, making sure they are correct and cancelled arrangements are not still active.

You may also want to look at any bonuses your bank offers you, such as travel insurance or fraud protection, as buying them elsewhere may be cheaper.

You may find a better current account from somewhere else, as the market is competitive at the moment. Interest rates can be up to 5% AER, you may also receive cashback or get bonuses. These accounts will have requirements, so always read the terms and conditions. Also, ensure the new account is suitable for you.

  1. Savings

If you have an ISA or savings account, you may not still get the same interest rate as when you opened it if you were offered a bonus period. The rate could now be much lower, so find out what you’re on currently and look elsewhere for better rates.

You can read the Money Advice Service’s guide to cash savings here: https://www.moneyadviceservice.org.uk/en/articles/cash-savings-at-a-glance?utm_source=publish2&utm_medium=referral&utm_campaign=www.rightmove.co.uk

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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