Worried about the rising costs of living?
CashForLondonHomes.com
Trying to cut back on your spending....read our money saving tips.
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Read our tips and see whether you can save money.
1. When you take out a credit card with a low balance transfer rate and then use it to incur other debts.
The card company may use your monthly payments to pay off the cheaper debt first. Know as 'payment hierarchy', this will result in you paying as much interest as possible within the terms and conditions of your deal.
Top Tip: Try to use separate card for balance transfer and purchases.
2. Banks and other lenders have been overcharging customers who exceed their agreed borrowing limits or fail to make a payment on time. Credit card companies have recently been forced to reduce their fees from £30 to £12.
Top Tip: Set up a direct debit for the minimum payment, this way if you forget to pay, the card company will still get the payment and you will not incur an extra charge.
3. Many restaurant and bars now add the service charge to the bill automatically, in some cases as much as 15%. Some establishments fail to make it clear to the customer, leading to you giving more money by mistake.
Top Tip: Check your bill and ASK, if your not sure, don't be afraid to ask if service charge has been added.
4. Car/Home insurers often offer policyholders the option to spread the cost of their cover over a 12 month period. However, the interest rates applied to these payments are often over 25% adding hundreds of pounds to the cost of the policy.
Top Tip: Look for insurers that don't charge interest if you spread your premium over the year, the policy may cost slightly more, but you save money by not paying interest.
5. Gas & Electric companies often 'estimate' your bill, as a result you may be paying too much for your energy bills.
Top Tip: Check your meter(s) regularly and contact your supplier with the correct meter readings(s).
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