18 October 2016

Just Moved In? Changes You Can Make to Save Money Instantly

Have you recently moved to a new house? If so, this is a great excuse to check your finances and make changes to save you money. Once you’ve unpacked your boxes and settled in, follow these tips to start saving instantly.

Home Insurance--

If you’ve moved to a new house, you’ll need to update your home insurance policy. Instead of simply calling up and renewing your current plan, take time to do some research. Often, we agree to continue existing policies without even thinking about alternatives. The truth is that sometimes, you can save a lot of money by shopping around. Insurance is a hugely competitive industry. Providers will often offer incentives to attract new clients. If you switch to a different company, you may get preferential rates, as well as a welcome bonus. It may seem like a hassle to change your policies. But you’ll need to update your details anyway, and the Internet makes switching really easy. Using a comparison site, you can enter your details, and get results in seconds. You can compare prices, and see what level of cover you get from different providers. If you want to change, all you need to do is click on the link, provide more information about your home, and set up a payment plan. If you don’t want to switch, you may find that your current provider offers a better deal if you mention competitor prices.


Internet and TV--

Have you been with the same Internet or digital TV provider for as long as you can remember? A house move is a great time to make some changes that may save you money each month. There is a growing number of Internet companies out there competing for your service. This means that you can often take advantage of special offers or discounted rates if you choose to switch. If you’re sick of a slow connection, or you’re keen to upgrade your broadband package, consider options for your Internet. Search online to see what different companies are offering, and give your current provider a call to see if they can offer you a better package.

If you have a digital TV subscription or you’re interested in signing up in your new home, it may be worth looking into bundles. Many Internet providers also offer TV and phone services. Often, you can create a tailored bundle that works out cheaper than paying for individual services.


Insulation and Reducing Energy Bills--

Most of us would like to have more money left over at the end of every month. Energy bills are often one of our most significant expenses in the winter months. If you can make savings, this could make a massive difference. When you move into your new home, check out its energy efficiency rating. It may be possible to add insulation to increase efficiency and reduce your bills. You can research loft and cavity wall insulation. Or you can take a trip to the hardware store and buy simple additions to increase heat retention. Sealing doors and windows, for example, can be hugely beneficial.

You may also wish to consider changing your energy provider. It may be easier to stick with the same company you had before or the provider chosen by the previous owners of your new house. However, you could save money by moving to a different firm. We often assume that it’s stressful to switch. But you may find that your new company does all the legwork for you. Make some calls and do some research online. You may find better taxes/rates/fees and be able to negotiate additional benefits over the phone.


Updating Appliances--
When you move house, it’s a great opportunity to get rid of appliances you no longer use and replace older models. Initially, you’ll be paying out. But investing in new, smart appliances will save you cash in the long-run. In this day and age, manufacturers offer all kinds of fancy features, which make appliances more efficient. Using these products not only saves money. It also contributes to greener living. If you’re keen to update washing machines, fridges or kettles, look online. You can compare prices for models you like and read reviews. Some retailers also offer the option to spread the cost using finance. If you’ve moved house and things are a bit tight, this can help to make life more affordable.


Budgeting--

Any changes in circumstances call for updates in your budgeting plans. If you’ve relocated, it’s a perfect time to revise your budget and get to grips with your finances. Moving may alter your income or outgoings and affect your existing budget. If this is the case, it’s essential to adapt as quickly as possible. If you take your eye off your finances, you may get a nasty surprise at the end of the month. If you know what’s coming in and going out, you have a much better chance of staying in the black.

Once you’ve sorted all your bills out and made any changes to Internet, energy or insurance providers, make a new budget. Write down everything that comes out of your account on a regular basis. Make sure you have up to date costs that take any alterations into consideration. Add up how much is coming out and how much you’ve got coming in. Once you’re done this, add extra costs for the coming month. This column should include one-off expenses. Perhaps you’re going away for a weekend, or you’re going to buy a new sofa, for example. When you’ve got everything written down in front of you, you’ll have a good idea of what you’ve got available, and where you need to make savings.


Moving can certainly be stressful, but there are many advantages. Change can often be a good thing. You get the opportunity to have a clear out, and to put your stamp on a new home. Moving also provides a chance to assess spending, and have a look at ways you could be saving money. When you relocate, it’s often wise to compare insurance, Internet, and energy providers. A couple of phone calls and a few minutes online could save you a significant sum.

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