Driving down my monthly costs.

devonmark

Hi,

Firstly please let me appoligise incase this post is in the wrong place.

After approximatley 2 years i have decided it is time to start reducing my monthly outgoings (starting with utilities). My total out goings on utilities and direct debits (including mortgage and council tax) have risen from £1300 to £1650. This has happened gradually by companies contacting me to tell me my Water/Electricity (etc) bill is going up by £5 per month. My main concern at the moment is that my Gas, Electric, Water and Phone accounts are all in arrears, and therefore a percentge of my bills are are going on paying the arrears. So my main question is, if i change all of my accounts over will the old companies bill me for the full amount straight away or will they let me pay them off gradually? I have listed my outgoings below for you to see. As you will notice there aren't mainy luxuries there (Sky etc):

Gym Membership 29.00
Life Insurance 21.95
MORTGAGE 967.54
Car Loan 99.12
Car Insurance 24.85
O2 MOBILE PHONE 15.00 Recently changed to Pas as you go
O2 15.00 Recently changed to Pas as you go
CSA 87.76
NUT SUB. 14.37
South West Water 68.50
TV LICENCE MBP 10.99
BLACK HORSE(Sofa)30.33
Council Tax 110.00
BRITISH GAS 29.00
BT DIRECT DEBITS 50.00 Including Broadband
BRITISH GAS ELEC 62.00
House Insurance 23.72

Total 1,659.13

I would be grateful of any advice anyone could give on how to reduce my outgoings.

Thankyou

Mark :beer:

hobo28

What rate do you have on your mortgage? Whats the outstanding balance on it?

Are you on a water meter?

How many people in your household?

devonmark

Mortgage is approx:

£147,000

It is split over 2 mortgages 1st on is for approx £81,000 and is on a varible rate of 6.5% the second is approx £66,000 and is fixed until jan 07 on a rate on 4.5%. I had planned to combine them both in jan as i would have a penalty of £671 is i was to combine them both now.

Yes i am on a water meter

there are 2 adults and 1 two year old in the house.

Thanks

Mark

Ken68

At £68.50 for water, Devon, you must have a leak.
Joining your local Athletics Club would probably cost £10 a year for the same thing you get at a gym. Mainly running tho.

wrightnick

Hi,

Depends on what you call patterns are, but several telecom providers offer free national calls e.g. call18866 for example.... I use primus... still pay me bt line rental - make no calls during the day - make evening calls through primus pay 2.99 per month for this but them give me £5 per month call credit!

The orcid dialler lets you route you calls to certain carriers, I make calls Cyprus bt is about 20p minute, call18866 about 2p... mobile call costs 5p per minute with bt 10 - 13p, etc...

I also call a free directory enquiry number, programmed into my orchid dialler as 192 - I can never remember the 118 numbers!

Change your broadband, bt isnt the cheapest...

Use a cash back site...when signing up to new services... quidco.com is fantasic.... got £230 back since last august....

quidco pays £60 if you change your car insurance with the aa for example...
you also save money by doing a price comparison

Regards