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Resolve to pay less in the coming year

PUBLISHED: 09:42 27 January 2011 | UPDATED: 20:34 20 February 2013

Resolve to pay less in the coming year

Resolve to pay less in the coming year

The new year can be the perfect time to give your finances the once-over, says Adam Aiken

The new year can be the perfect time to give your finances the once-over, says Adam Aiken




The list of things you can do to cut your expenditure is long, but here are three simple things that could take you less than an hour but save you a small fortune.


Energy prices
Some gas and electricity providers put up the cost of domestic fuel in the run-up to Christmas, and these companies customers will be seeing the effects of the higher bills round about now. But while were quick to criticise the providers, we are less good at doing anything about it.
Since the deregulation of the domestic energy market, fewer than half of all households have switched suppliers. That means most people are still with so-called incumbent providers, paying on average more than 250 a year too much for their home energy.
Its easy to make the change. Either visit a site such as www.moneyfacts.co.uk (select the utilities tab) or call a company such as Uswitch on 0800 404 7908.


Credit card balances
January is when many of us are hit with huge credit card bills.
While it is a good rule of thumb never to put more on your plastic than you can afford to pay off the following month, its not always possible to stick to that discipline particularly just after the expensive Christmas season.
So if youve recently overspent or if youve already got a large balance on your credit card you could consider transferring the outstanding amount to one of the various cards that offer interest-free balance transfers. Most of these will charge a fee for carrying out a transfer, but it could still save you money. For the best deals, visit www.mymoney24.co.uk and click on the orange best-buys box.


Home communications
Most home communications providers now offer the complete range of services. If you have any combination of landline, broadband and digital television, it will almost certainly be cheaper to take a bundled service from a single provider than to use different companies.You might find that an existing provider has tied you down with a minimum contract. If thats the case, dont worry simply make a note in your calendar and make the switch when your existing deal runs out. A good place to look is at www.consumerchoices.co.uk


These are just some of the easy ways you can make quick and easy savings. And if you think, it sounds good but I just cant be bothered, ask yourself: Would I really turn down several hundred pounds for just an hours work?

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