How to Make Your Bills More Affordable

No one likes paying bills but if we want to be able to use services such as electricity, gas, water, television and telephones then we need to pay them alongside our tax which will go towards local services. It is always worth thinking about what you are getting or the money when you are paying bills rather than fixating on the fact that you are having to pay out. There are also ways that you may be able to make some of your bills more affordable.

When it comes to tax, there is no way of changing it or reducing it unless your circumstances change. However with council tax there is a chance that you may be in the incorrect tax band. The bands are assessed when a house goes up for sale but not in between which means that it may be incorrect. It is worth finding out if you think there is any reason why it may be too high. You can see the tax bands of yourself and neighbouring houses on the government website and it also lets you know where to contact them if you think that it may be incorrect.

Energy bills can be another expensive bill that we dread, particularly in the winter when we use the heating more. To help to spread the cost over the year, many energy suppliers will let you pay more than you need in the summer so that you build up some money to cover the more expensive winter months. If you would rather they did not have extra money like this, then you could put a bit of money aside in the summer to use towards the winter bills. Being aware of your energy use can be important and using a smart meter to measure what energy you are using will help you to understand what is costing you money and may help you to plan what energy you are using. Making sure you switch things off when you are not using them is a really big help to start with. Then you may be able to think of ways to cut down in other areas as well.

Mobile phones, broadband, landline and television packages can come together or separately. They can be pretty expensive and so we often bundle them up to save money. It is extremely wise to go for the best deal that you can find, but it is also expensive not to be tempted to get more than you need. It is so easy to be drawn in by advertising but be careful and make sure that you know exactly what you are getting for your money and that it is something that you really need.

Water bills are something e may not think about as much, however, we can influence them It is worth finding out whether it will be cheaper for you to have a meter, if you have not got one. A rule of thumb is that if there are less people in the home than bedrooms then it is likely you will be cheaper with a meter but of course if you have lots of baths, water the garden a lot, wash the car regularly and do lots of washing, then this may not be true. There are online calculators where you can work things like that out. If you are metered then it is wise to make sure that you are not wasting water. Think about all of the ways that you do use water and whether there are ways you could cut down. Your local water supplier should have some tips on their website.

There are lots of little things that can be done which should reduce bills. Although each thing might only make a very small difference, these will all add up and it can make a real difference each month to how much you have to pay out. If you add up how much you have saved over the course of a year, you could be surprised as to how much it is and how little effort it took to save the money. Those little savings can all add up and they could allow you to start paying off debt, save money or treat yourself to something.


Should I Pay Off Some of my Mortgage with my Savings?

Having savings can be a nice feeling. It can be good to know that you have some money to fall back on in case of an emergency and that you will be able to cope with any bills or problems that come your way. However, if you have a mortgage outstanding, then you may wonder whether it would work out better to pay some of the savings against that so that you can pay less in interest and potentially clear the debt more quickly. But whether this is a wise idea depends on a number of factors.

Firstly you will need to check the interest rates. How much mortgage rate are you paying and how much interest are you getting on your savings? You will need to take a look at the current rates or phone up to find out. Usually mortgage rates are higher than savings rates, but this will depend on the type of savings that you have. There are accounts, such as fixed rate bonds and notice savings accounts which will pay a high interest rate and there is a possibility that they may pay more than the mortgage interest. This will very much depend on your specific mortgage and what the Bank of England base rates are. It is worth checking to start with because if you are earning more on your savings then it makes sense to keep them where they are. However, if you are paying more on your mortgage then it could be worth using your savings to pay off some of the mortgage.

Before you think any further though you need to check the terms of your mortgage. Either look at the terms and conditions, which you should be able to find online if you do not have a copy or you can check with customer services. Find out whether there is a penalty, such as an early redemption fee, which may have an impact on the bonuses of paying back some or the entire mortgage. It is worth calculating how much money you will save in interest if you pay in your savings and compare that to how much you will make in interest if you leave them in the savings account. Of course the interest rates may change, but as it is impossible to predict the future, it is best to just compare at current rates.

If you have a flexible mortgage then it means that you will be able to draw the money back out of you need it. This is a great way to offset the mortgage and pay less interest but have access to the money that you have overpaid so that if there is an emergency you can get the money back out. In this situation, if it is cheaper for you to put the money against the mortgage, then it makes sense to do it. However, if the money is tied in once you pay it in and you cannot get it back out, then you may be more reluctant. You may worry about what you will do if you have an emergency and need money. It will all really depend on your personal situation and whether you think there will be likely to be an emergency and whether you think that you will be able to get the money form elsewhere. You may never have money emergencies, for example or you may have an overdraft or credit card to fall back on if absolutely necessary. You need to think about your current situation, your earnings and you access to credit to work out whether you think you should keep an emergency savings fund or whether you should pay savings off the mortgage. Also consider what a difference it will make. If you pay off a significant chunk of mortgage it may mean that you can repay less each month due to the reduction in interest payable or you could continue to pay off the same amount and pay the mortgage off more quickly. Each of these scenarios could make a significant difference to your future.

It is also worth remembering that if you have other types of debt, such as credit cards then the interest payable on these will be much higher than a mortgage. This means that it would make financial sense to pay these off rather than the mortgage.

Payday Loans

New to Payday Loans? Tips Just for You!

Are you new to payday loans? If you are getting ready to get a payday loan or thinking about one, then these tips are just for you. Why? Because they will help you make the most of this opportunity. Payday loans are unlike most other types of loans you could get. It is important to realize that this is a helpful financial tool that can let you easily manage your own or family finances to make things a lot easier for everyone.

First decide exactly what you need the loan for. Now one thing that may really surprise you, when you apply for a payday loan no one is going to ask you what you are getting it for. So if you’ve gone back to school and need to pay lab fees or if you are paying for your child to go to the high school prom, this is all terrific! Your reason for getting a payday loan is personal and important for you and your family. The payday company knows it matters to you, but they don’t need to know your specific reasons for needing the money at that time. Every reason is considered equally important.

Circle the date on your calendar when the loan is due. This is fantastic tip if you are new to getting a payday loan. Payday loans are due exactly 14 days after you get them. Because the company knows you will get a paycheck during that time. So when you are approved of for the payday loan, circle the date 14 days from that date on your calendar – that is your due date. You’ll want to be sure to keep track of it!

Now, you’ve just learned that payday loans are always due 14 days from when you get them. But you’ll actually want to pay it back when you receive your paycheck! So if you get paid in a week or a week and a half, that is when you pay the company. Set the goal to pay them exactly on your payday, when that direct deposit hits your bank or you can cash your check. Go visit them and pay back the payday loan. While you’ve circled the due date, what you really want to note is your paycheck date because then is when you’ll have the funds available to pay them back.

Spend your loan on what you planned to buy. This is something that those experienced to getting payday loans know to do. If you get a payday loan, planning to buy a new winter coat, then don’t buy a new blender. Why? Because you already know how important that new winter coat is to you. You went and got a cash loan to get the coat. Now, if you need a blender, you can always get another payday loan at another time if you need something else such as the blender! If you can do this one tip, you will be simply masterful with your use of payday loans.

Enjoy what you bought. This is actually one of the most important steps of getting a payday loan. If you got a payday loan so you could take your family away for the weekend to go to the beach, then have a bit of a celebration about what you’ve gotten for yourself and your family. You’ve done something special to treat your loved ones. It can be hard to wait all the time for your paycheck in order to buy something. When you use the financial tool that a payday loan offers you, it is easier than ever to simply enjoy every aspect of life. Life is to be enjoyed with those you care about.

Realize the empowerment that payday loans offers you. This is something that people just don’t notice: that a payday loan gives you a power that not everyone has. Lots of people have to wait until they get paid so they can buy something. You just never have to wait. The process to get approved of for a payday loan is quick, simple and hassle free. So whether you need something for a serious reason like a home repair or something fun like tickets to a baseball game, you can smile wide because you confidently know that it is always well within your grasp. All because of payday loans. Yes, it really is that simple!