Tag Archives: money

Life, Tips

Simple Ways To Lower These 5 Monthly Bills

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Many people are looking to cut costs at the moment. Finding ways to reduce your monthly bills could be one way to do this. While there are many long-term investments you can make to reduce your bills such as installing solar panels to reduce energy bills, there are less drastic measures that you may be able to implement immediately. Below are some examples of how to reduce these 5 bills.

Energy bills

Heating/cooling accounts for about 48% of the average home’s energy consumption. By relying less on heating and cooling, you could reduce future bills. Wrap up warm in winter and rely more on fans in the summer (these use a fraction of the electricity of air con). Beyond heating and cooling, consider other appliances that guzzle energy. Washing machines, tumble dryers and dishwashers can account for 14% of household energy usage – make sure you’re not washing/drying half-loads and use the right wash/dry settings to reduce energy usage. 

Insurance premiums

When was the last time you shopped around for insurance?  You could potentially save money on your health insurance premium by switching to another insurer. Many people stay loyal to one insurer because of incentives like no claims bonuses, but you may find that there are still cheaper deals out there to grab new customers. It’s worth noting that ringing up insurance companies and asking for a price can also sometimes get you access to better deals than you might be offered online. 

TV/internet bills

TV/internet is something you can also usually haggle down the price of if you’re willing to ring your provider up. If you threaten to leave, you will often be offered very low exclusive deals by a sales rep to stop you from leaving – these deals are worth taking advantage of. It’s also important to consider what services you actually need. Are you paying for channels that you don’t watch? Reducing the channels available could help you access cheaper rates. 

Credit card bills

A simple way to lower your credit card bills is to stop flashing the plastic as often. While paying by credit card can come with incentives and rewards, every purchase you make becomes a debt with interest fees. Switching to your debit card for everyday purchases can lower your credit card bills. Focus on paying off as much of your credit card bills as you can to reduce interest fees – you shouldn’t be regularly maxing out your card. Make sure you’re also taking advantage of the rewards offered by your credit card.

Loan/finance repayments

Loans and finance repayments can take their toll on our finances. It’s important to consider how much interest you are paying and whether it would be worth refinancing. This involves paying off high interest debts with a lower interest loan. Many people are able to save thousands by refinancing mortgages and car finance. Just be wary of exit fees charged by some lenders – these can sometimes make refinancing not worthwhile.

Life, Lifestyle, Tips

Simple Ways To Lower These 5 Monthly Bills

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bills, finance, costs, money, payments

Pixabay. CCO Licensed.

Many people are looking to cut costs at the moment. Finding ways to reduce your monthly bills could be one way to do this. While there are many long-term investments you can make to reduce your bills such as installing solar panels to reduce energy bills, there are less drastic measures that you may be able to implement immediately. Below are some examples of how to reduce these 5 bills.

Energy bills

Heating/cooling accounts for about 48% of the average home’s energy consumption. By relying less on heating and cooling, you could reduce future bills. Wrap up warm in winter and rely more on fans in the summer (these use a fraction of the electricity of air con). Beyond heating and cooling, consider other appliances that guzzle energy. Washing machines, tumble dryers and dishwashers can account for 14% of household energy usage – make sure you’re not washing/drying half-loads and use the right wash/dry settings to reduce energy usage. 

Insurance premiums

When was the last time you shopped around for insurance?  You could potentially save money on your health insurance premium by switching to another insurer. Many people stay loyal to one insurer because of incentives like no claims bonuses, but you may find that there are still cheaper deals out there to grab new customers. It’s worth noting that ringing up insurance companies and asking for a price can also sometimes get you access to better deals than you might be offered online. 

TV/internet bills

TV/internet is something you can also usually haggle down the price of if you’re willing to ring your provider up. If you threaten to leave, you will often be offered very low exclusive deals by a sales rep to stop you from leaving – these deals are worth taking advantage of. It’s also important to consider what services you actually need. Are you paying for channels that you don’t watch? Reducing the channels available could help you access cheaper rates. 

Credit card bills

A simple way to lower your credit card bills is to stop flashing the plastic as often. While paying by credit card can come with incentives and rewards, every purchase you make becomes a debt with interest fees. Switching to your debit card for everyday purchases can lower your credit card bills. Focus on paying off as much of your credit card bills as you can to reduce interest fees – you shouldn’t be regularly maxing out your card. Make sure you’re also taking advantage of the rewards offered by your credit card.

Loan/finance repayments

Loans and finance repayments can take their toll on our finances. It’s important to consider how much interest you are paying and whether it would be worth refinancing. This involves paying off high interest debts with a lower interest loan. Many people are able to save thousands by refinancing mortgages and car finance. Just be wary of exit fees charged by some lenders – these can sometimes make refinancing not worthwhile.

Lifestyle, Tips

Thinking of Going From Employee to Entrepreneur? Read This First

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Have you ever thought about leaving employment to start your own company? Whether you want to take what you’re already doing and start your own firm or do something entirely different, this could be an ideal that appeals to you. In fact, it’s not an uncommon desire to want to work for yourself, be your own boss, and create a business from scratch. But before you take the leap, you have to know what it takes. So to help you, in this blog post, we’re going to run through everything you need to consider before leaving life in employment to become an entrepreneur.

Your Financial Position

One of the most significant factors to consider before becoming an entrepreneur is your financial situation. Starting a business may require an upfront investment. This could be for a location, equipment, marketing, staff, and more. Right now, as a salaried employee, your income is stable, and your expenses are predictable. But as an entrepreneur, your income can be unpredictable and you can be faced with unexpected expenses. So before leaving your corporate job, make sure you have enough money in savings to support yourself and your family for a minimum of six to twelve months without a steady income.

Your Business Idea

Next, you need to make sure that you have a concrete business idea. Ask yourself — Is your business idea unique? Is there a demand for it? Is it sustainable for the long term? You can also conduct market research and look at competitors to validate your business concept. And if you really want to be able to take your business idea to the next level, you can also work with a mentor or a business coach to hone your product or service offering.

It would also be advantageous to set up a business website as the majority of businesses have moved into the online space so they can reach a larger group of people. You will need to do a domain name search first to ensure that your chosen name with the extension is free for you to use. You can then register it ready for when your business is up and running.

Your Business Acumen

From here, you’re really going to want to make sure that you’re ready to step into the business world. Are you au fait with business life and what it takes? Do you understand how to pull together business finances and secure funding? Will you know how to create a dental logo or what you need to do to launch a website? Could you bootstrap and do everything by yourself to begin with? It’s important to be real with yourself here. There is, of course, support out there for you to utilize if needs be. For instance, to help with financial analysis and planning, you can check out this balance sheet example to see if this could be something useful to assist with managing your business finances. There is a lot out there for you to use if you know where to look, which is why research will always be a key factor.

Your Work-Life Balance

Also, when you work for yourself, it can be challenging to balance work and personal life. You may have to work more than your usual eight hours a day — and it can often be seven days a week in the beginning! That being said, you will also get to enjoy the freedom to dictate your schedule and work on your own terms. But that can come over time. So you need to be prepared to dedicate the time early on.

Your Support System

Finally, entrepreneurship can be a lonely journey so having a strong support system is crucial. Your family and friends will be your cheerleaders and sounding boards throughout, as well as your shoulders to cry on. It’s important that you have strong support around you, particularly in the initial stages. Where you can, also have your own network around you too. As this can also offer professional support and allow you to access potential opportunities too.