Spring is finally here and it’s time for the warmer weather, the longer days and the lighter nights. It’s also the time where many of us start to think about having a spring clean.
Whilst you may be starting to think about spring cleaning your property this season, why not have a spring clean of your finances too?
Hull Money has teamed up with our suppliers to provide you with some support to help you on your cleaning journey:
Creating a budget and organising your bills, can help you to declutter your finances.
Here are some tips by, Hull Connect to Support to help you declutter;
Step 1- add up all of the money you have coming in to your household
Step 2- add up all of your bills
Step 3- is there anything else you buy? (Food, toiletries etc.)
Once you have followed these steps, work out how much money you have left for anything else you want to buy or save.
• Have a place where you keep all your bills and place them in a folder.
• Open all your bills as soon as you get them.
• set regular times to pay your bills
• use a calendar to mark off when bills need to be paid
• if you have a mobile device, you could use the reminder app to tell you when you need to pay your bills
According to Energy helpline, you can save up to £458* per year when switching your energy bills.
So It’s a good idea to check your current energy tariff, to see when your tariff ends or complete a 5 minute switching quote to see if you can save money on your energy bills.
If you are on a low income, have a child under 5 or have disabilities, before switching supplier check if you will be eligible for the Warm Home Discount Scheme. This is a government grant of £140 off your electricity bill.
Check out Hull CAB Energy Best Deal Extra, for some switching tips and advice.
Although Christmas is now a distant memory, if you are still paying high cost debtors from the Christmas period, it might be time to look at reducing those costs.
By choosing a lower cost loan from one of the Hull Money suppliers, you could save in interest payments. (Example shown below)
If you require debt advice, Hull Citizens Advice Bureau can be contacted on; 01482 224608.
As well as debt advice, Hull CAB also offer you help on how to maximise your income, this could be in the form of finding out if you are entitled to any benefits.
Now you have a budget, your bills are organised and you have saved some money on your debt repayments, it’s now a good time to think about your savings.
Hull and East Yorkshire Credit Union offer a number of saving accounts to help suit your needs and can be opened with a minimum of £1.
They also have a Christmas Saver which is an ideal way to save safely for the next festive season. At present they are offering a £10 bonus to anyone opening a Christmas Saver for the first time.
If you are on a low income or benefits, you may also be eligible for the help to save scheme.
Help to Save is a type of savings account. It allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1 they save over 4 years.
For more information, please click here.