Saving money and getting your finances in order is a good idea during the summer. For one, the children are home all the time, so you can include them on all of your decisions. It’s been shown that when children truly feel like you’re being mindful of their thoughts and emotions, they’re much more likely to respond favorably to you. They are also much more likely to be active in doing things that benefit the family as a whole. For example, if they’re prone to leaving the lights on in rooms where they aren’t even doing anything, they may turn off the lights more often. Same goes for water usage. They may try to make a game out of who can help the family save the most money. And let’s not even go into supermarket shopping, where it seems like they have an ongoing list of stuff they feel they have to have.
Below are three great ways to save even more money this summer than before.
1. Check Your Tariffs
You may be paying far more for electricity than you realize, just because you’re not following the yearly rates. See if switching to another provider will lower your utility bill any. If so, then you know what to do, don’t you? 🙂
2. Renegotiate Insurance Policies
Your family probably has a lot of policies they haven’t touched in a long time. Home insurance, car insurance, life assurance cover…the list goes on and on. If you haven’t checked whether or not you could save money on your premiums, then you’re basically losing savings that could help keep more money in your pocket.
To fix this, it’s best to call the company directly. Review your policy on the phone with them. If you don’t have a copy of the original contract you signed, get them to send you one first before you go into the negotiations. You want to be able to know your policy inside and out. What does it cover? What does it not cover?
Then when you have a firm grasp of your policy, ask for a better rate based on your solid payment history and low risk profile. Remember that in the world of insurance, risk is really the name of the game.
3. Make Sure ISAs are Topped Up
The new tax season is here, so you might as well get a jumpstart on your ISA. This is basically free money the Government is allowing you to keep. This year the limits have gone up to 15,000 GBP, giving you even more money that you can shelter. You may choose to keep it on the cash side or on the stocks & shares side. It’s completely up to you.
There are a lot of different ways to save money over the summer, but we thought these three tips would serve you especially well.