6 money saving tipsEvery year we needlessly spend our money on things we’re able to change. We get into a rut of paying things by direct debit and rarely question how much we’re paying and why. Yes, it can be time consuming to investigate and compare different prices and its often time we haven’t got. However, if you’re looking for ways to save money, you may want to set some time aside and take a look at these money saving tips.

1. Your Mortgage

We all know that we have the option of re-mortgaging but we don’t. Why? Because it takes time and effort. We hardly think about our mortgages and how much time we have left on them or how much we have left to pay. Do you know how much interest you’re paying? Take a look at whether you can get a better deal. If not, you may want to change the way you think about your mortgage. The earlier you pay it off, the better. Start paying more towards your mortgage every month and you could cut years off it.

2. Your Energy Bills

Here’s another one we don’t pay attention to. Paying a direct debit for our gas and electricity bills means we don’t have to think about it. We get used to paying a certain amount every month and forget why we’re doing it. By comparing energy providers, you could cut your bill by almost half, depending on your usage. Take a look at Selectra energy comparison to see if you’re paying too much for your energy.

3. Clear Credit Card Debt

The interest rates on most credit cards have you spending far more than you should per month. Take a look at which credit card or loan has the highest interest rate and work on paying it off. You’ll be surprised by how much additional disposable income you’ll have once you don’t have to pay back loaned money.

4. Change Your Car

If you’re driving a large car with a large engine, there’s a good chance is guzzling up your money. Fuel doesn’t last long in two litre engines so consider getting yourself a car with a smaller engine that’s more fuel efficient. You can also get cars that are low on tax payments and insurance payments. The less you’re paying for your car, the more you’re saving.

5. Install a Water Meter

You may be paying a standard rate with your water provider, but many single person or couple households are paying more than they should. You may want to consider asking your provider to install a water meter. That way, you’re only ever paying for exactly what you use.

6. Pay as You Go Mobile

Many of us aren’t using half of what we’re entitled to use on our mobiles. With tools like Facebook Messenger and Whatsapp around, texting has almost become obsolete. If you’re not using your phone the way you used to, you may be better off getting a pay as you go phone and only paying for what you use.