During the more quiet summer months might be a good time to rethink your family budget, re-negotiate contracts and look at your overall household budget. After all, we could all benefit from the savings – either to make advance payments to the mortgage and build more equity in ur house, finance home improvement – or why not – travel more.
Here we break down the biggest steps you can take to try and save some of your hard earned cash by rethinking your household budget.
Many homeowners are not aware that they could potentially obtain a better deal on their mortgage once their current contract runs out. So it is well worth giving our friendly team a call – we will help you shop around and remortgage with the most suitable product available currently. This is an important way of saving money – since probably your mortgage is the largest spend in your monthly budget.
There is lots of advice out there so be savvy and use your best options in paying the loans or credit cards with the biggest interest rates as quickly as possible. Sometimes looking into refinancing can be an option that will lower the cost of debt and make a difference to your monthly budget.
From home insurance, travel insurance, illness and pet insurance, the money you are paying monthly towards your future safety can pile up. So shop around – or even better, give our friendly team a call as we can help advise on most insurance to make sure you opt for the ones that fit your circumstances and needs.
From broadband, phone and TV packages to gas and electricity, once your initial contract has run its course, you can start shopping around for better deals. There are also savings to be made on utilities if you consider installing a smart meter – your meter readings will become more accurate and you will also be able to better understand how you use energy. Every home in Britain will have been offered a smart meter from their supplier by 2020 according to Uswitch.
Most UK households have their garages and lofts full to the brim with memorabilia, old family heirlooms and generally things we grow attached to, so it might pay off to sort clutter out once and for all and put up for sale on Ebay. Not only will your house feel decluttered and more tidy, but you will have the quick benefit of some cash in hand.
The Mortgage Hub is an independent mortgage advisor serving the greater Glasgow area. Whether you are planning to buy your very first home and need the right first time buyer mortgage, or are looking to re-mortgage due to a house move or to growing family – we understand your journey is so much more than a financial process, it’s a journey to achieve your dreams, improve your lifestyle and achieve your true potential.