How to cut your monthly bills
As the cost of living continues to rise, we are all searching for ways to cut monthly bills and spending.
Every penny counts so whether it’s help from the government, budgeting hacks, or money-saving deals – we’re here to help with a list of ways to cut down on your monthly bills!
Budgeting Hacks
Firstly, it’s important to find a place to outline your income and outgoings. This can be something as simple as setting up an Excel spreadsheet, or managing your money with a bank account with a budget management function built-in, such as Monzo.
Budgeting apps such as Emma, can automatically calculate your monthly spending – find out more about which budgeting apps are best for you.
Once you know where your money is going, then you can find opportunities to reduce your bills - or cut back where your outgoings seem high.
Budgeting apps are not essential for cutting down on your monthly bills though! It may be helpful to write a list of all your subscriptions and decide whether they’re all necessary.
It is very easy to forget all the services you subscribe to and even though they may seem like small fees at the time, they add up at the end of the month.
Government Support
If you’re seriously struggling with your money situation and need ongoing help with your finances, it may be helpful to see if you’re eligible to receive benefits such as Universal Credit. You can find out more about benefits here.
Due to the cost-of-living crisis, it may be difficult to keep your home warm this winter. Prepare for the winter ahead and find out whether you’re eligible for benefits which can help heat your home. If you’re part of a low-income household, you may be eligible for the Warm Home Discount Scheme; check if you’re eligible with your energy supplier.
If you were born on or before 26 September 1955, you could get between £100 and £300 to help you pay your heating bills through the Winter Fuel Payment scheme. You will get this payment automatically if you are eligible from November to December.
If you’re not on benefits and find yourself struggling with monthly bills, you can contact your local council. They may be able to help you pay for things such as energy and water bills, food and essential items. This is known as welfare assistance, or the Household Support Fund, with each council running their own individual scheme. Find out more about how to receive government help with your monthly bills here.
Money-saving Deals
One way to reduce the blow of the cost-of-living crisis at the moment is switching providers. Energy companies such as E-ON, EDF or Scottish Power offer a fixed 1-year contact which can protect you from rising energy bills. If the price of your energy remains the same for a whole year, then you can try and avoid higher costs in the winter when you might want to spend money on Christmas presents instead!
Energy providers can also install a smart meter at your home and give you an appropriate quote for the amount of energy you use, helping you to avoid any further rises in energy prices.
Pay Weekly TV Hire & Tech Rental
A big money-saver for people looking to upgrade or try out new tech is pay weekly TV hire and tech rentals. Instead of paying a large sum for a TV, tablet, or phone or taking out a finance agreement, you can rent your tech weekly with Hiya!
On our website you can browse our tech by budget, to make sure you get the price that suits you and lower your weekly budget as you like, cutting down on your monthly bills.
At Hiya! you can rent 4k smart TVs, which allow you to stay up to date on all the latest shows on Disney+, Netflix, Amazon Prime and any on-demand streaming platform, all for a cheap fee starting from £6.99 per week.
We offer more than just TV rental. Been struggling to buy a mobile phone or tablet on finance? We understand that it’s hard to purchase tech with bad credit. With hiya! you can rent a mobile from as low as £4.99 per week and avoid paying large interest rates on a finance agreement!