Have you reviewed your spending recently?

With Christmas just around the corner and the Budget due to take place on 29^th October 2018, it’s the time of year where we all start to panic a little about how we are going to fit everything in and how we are going to afford it.  Therefore, now is an ideal time to take stock of your outgoings and see where you could save money to buy all those lovely presents or to put to one side to secure the future you want.

With that in mind, grab your bank statement and spend a few minutes reviewing your regular expenditure. Are there any payments such as telephone or entertainment packages that you could try to negotiate better deals for or cancel if no longer needed? Have you reviewed your utility provider and the rates you pay them recently? If not, you can use online comparison sites such as “Switch” or “Compare the Market” to quickly see what deals are currently available. Is there anything you are paying out for that you no longer use or need such as subscriptions that have ended, regular delivery charges or annual memberships?

Once you have done this you can then contact the relevant companies and negotiate cheaper deals or cancel as appropriate. Remember to ensure that there are no penalties for cancelling any contracts before you give the final say so.

Finally, are there any policies that you’re not really sure what they are if you need them or even if your money is still in the right place for you? Do you have a mortgage on the lender’s standard variable rate?  If so contact an expert, such as one of our Financial Planning Consultants at Prosser Knowles Associates Limited, to conduct a financial review. Please click here to request a call back from one of our advisers.