Frustrated giving away your money? Sort your finances with these tips.
Most of us are guilty of doing this by failing to organise our finances. Spend a few hours sorting your finances and you could really increase the money you have left to spend on the fun things.
So, here we go.
Making large interest payments on credit card debt? It may make good sense to move it all onto a 0% balance-transfer credit card deal.
These credit cards won't charge any interest on transferred debts for a set period, though there’s usually an initial fee.
Careful! The interest usually jumps at the end of the promotional period, so be sure you pay off the balance fully before this happens.
Most banks had to alter their overdraft fees when regulations changed in 2020.
While you won’t be penalised for going into an unarranged overdraft, you’ll now see charges of up to 39.9% EAR (effective annual rate) for going overdrawn.
Luckily, there are bank accounts that offer free authorised overdrafts up to a certain amount.
You can keep hold of a bigger chunk of your earnings by claiming all the tax reliefs you're entitled to.
Reliefs such as the marriage allowance, rent-a-room relief and potentially exempt transfers (PETs), can all save you heaps of money, yet relatively few people are aware of them.
If you're looking to buy car insurance, credit cards or a broadband bundle, there’s usually a big difference between the most expensive and cheapest providers, so look for the best offers on these websites.
Lots of supermarkets, retailers and restaurants reward customers by giving them points each time they make a purchase. These points can be converted into money-off vouchers.
Many offer one-off deals or discounts to get you to sign up in the first place.
Find out more here
It can be easy to miss direct debits you've forgotten to cancel if you don't regularly check your bank statement.
Log in once a month and check it to help prevent any unnecessary payments lasting for months or even years.
It can be difficult to find the right one for you and providers can often be unhelpful when it comes to offering existing customers a better deal.
Check your bills regularly to make sure your call, text and mobile web use aren't consistently above, or a long way below, your allowance. If they are, ask for a better deal that better suits your use from your provider.
Using a pen-and-paper budgeting book is past thanks to the large number of mobile phone apps to help sort your finances.
Many of these will let you add accounts from multiple banks so you can keep track, using open banking, of the bigger picture.,.
It’s likely you have several subscriptions to streaming services.
Maybe you can save by taking out what most of them call ‘family plans’, that allows you to share accounts with others in your household. As example, Spotify offers six accounts for £16.99 under the Premium Family plan.
1Plus1 offer personal loans backed by a guarantor, subject to both the borrower and guarantor meeting our affordability and credit worthiness criteria.
If you think you may be interested in a 1Plus1 Loan, please give us a call on 0330 1200 313 and one of our friendly staff will be more than happy to discuss the process with you, or start your application here.