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Learn how to reduce your cost of living by reviewing your bills

Posted on 13 July 2022


When we focus on saving money, we often first look at cutting back on spending. Whilst this is wise and essential, it’s also key to review and organise your bills. With increases on most utilities this year, there’s never been a better time to review your bills and various providers.  

Shop around 

Some companies have long relied on customer loyalty. In what is known as the ‘loyalty premium’ customers can lose money by choosing to blanket renew with providers from energy, broadband and insurance without first comparing with competitors. You may be wondering if it’s worth the admin but there’s merit in shopping around and getting the best deal even if it means switching to a new provider.  

As many as 17 million drivers let their car insurance auto-renew last year at a cost of £830million, according to MoneySupermarket. [1] 

Price comparison websites have been around for a while now, the choice can be overwhelming. Head to Ofgem’s switching energy tariff or supplier advice hub for a full list of Ofgem-accredited price comparison websites.  

Find the best phone deals 

Mobile phone contracts that offer ‘free’ handsets aren’t always good value. By signing up for a discounted smartphone along with your contract plan, you’re committing to a longer, more expensive contract (usually 24 months) - which means you can’t take advantage of cheaper data or call bundles. 

Though there’s an initial lump sum, it can be better to buy a phone upfront, then you can get a SIM-only deal with a rolling contract of a month at a time. It’s best to work out the total overall cost of your phone and your contract, rather than being sucked in by seemingly lower monthly payments that stretch over a longer period.  

Pay your bills annually rather than monthly  

One of Which’s top money-saving tips is considering switching bills to annual or 6-month block payments as opposed to monthly increments. Similarly, to buying your phone up-front there’s a lump sum cost. For certain bill types such as a loan with an insurer, there’s normally interest – which can be high. If you pay upfront, you reduce the interest you’ll pay overall. If you can afford to pay upfront, it might be worth doing. [2]  

Watch your subscriptions 

It’s not uncommon for people to have a few subscriptions… Netflix, Amazon Prime, Graze and Hello Fresh are amongst the most popular. When a company offers us a freebie (and who doesn’t love a freebie?) we often stay loyal to that brand after signing up. This is why so many companies reel us in with free or discounted trials. It may be worth checking you’re not paying for subscriptions you simply forgot to cancel or no longer use. Cutting down on a few subscriptions is a good way to reduce your bills and remind yourself to make the best use of the ones you decide to keep.  

Reviewing your day-to-day finances doesn’t have to be daunting. Start by looking for small changes and if you manage to save a little on most of your bills, that’ll soon add up to a decent amount you’re able to save.  

[1] 1 in 2 motorists lose money by allowing car insurance to auto-renew ( 

[2] Car insurance premiums rise by £68: how to save when renewing your policy - Which? News 


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