Well done for admitting you have a debt problem: you’re reading up...
Spring clean your DMP budget
We’re halfway through April; spring has sprung and now could be a good time to take a detailed look at your budget. Could you spruce up a few areas and make savings that will help you before summer?
If you’re a DMP client, sometimes even paying an extra £10 a month could have a significant effect on when you finally reach your debt-free date.
Here are seven spring time budget tips for you to consider – could any of them help you?
It’s important to have a look over your bank statements with a fine-tooth comb and it’s easier to do now, with the advent of online banking. Study those direct debits. Do you know what they‘re all for?
Is there anything on the direct debt list that you’re not sure what it is? Or even worse, something you thought was cancelled a long time ago and is still coming out? Investigate and cancel if you need to. If there’s a continuous payment authority in there, ask the retailer to cancel it straightaway.
If you joined the gym in January and haven’t been since the first week of Febraury it might be worth checking if you can cancel this too.
Life insurance is vital for many people. It’s also one of the products where the price of a policy can vary massively and if you don’t get independent advice you could end up with a policy which could be too expensive. It’s always worth reviewing these policies and seeking independent advice from a specialist.
If you’re in a debt solution with us we can put you in touch with someone to help – just give our Aftercare team a call.
We’re bombarded with adverts about switching from one company to the other, but what difference does it really make? Try our utility switching service to see if you can get your gas and electricity for cheaper than you current supplier.
Ditch the car
Not everyone can do it, but with the cost of petrol skyrocketing it’s now more relevant than ever. Can you cut down on car use, get the bus to work or ditch the old gas guzzler all together? We’ve blogged about giving up the motor before, and now more than ever this seems to be a good way to make a massive positive impact on your budget.
If you’re really struggling with your money you might be entitled to some extra benefits. A lot of people are unaware what they’re entitled to and even how to claim. StepChange Debt Charity has a online benefits checker that can double check to make sure you’re claiming everything you should be.
Getting a water meter fitted can act as an almost instant win for your water bills. This is especially true if you live in a small household (especially one with more bedrooms than people). It’s not unusual for bills to drop almost straightaway and it also makes you more aware of the how much water you’re using and what you’re using it for. It can be an almost instant way to save.
This guide includes calculators that will help you estimate how much you could save.
Spread council tax over 12 months
Do you pay your council tax over 10 months? Most of us do but if you’re having trouble budgeting it might be worthwhile giving your local council a call and requesting that you spread the bill over the full twelve months. Not all councils will agree to this straight away but it’s worth giving them a call to see if this is possible.
It’s also worth remembering to check if you are entitled to Council Tax Benefit.