​Martyn James: Your big guide to saving some money

I don’t know about you, but I’m still in shock that we’ve hit September! It’s around this time of year that we start to think about our finances, so we can fund everything from Christmas to bill increases.

If money is tight then this might seem an impossible task. However, there are a few things you can do to shuffle around your bills and obligations so you can reduce the money you have to pay out.

​Here’s my checklist!

​There are an estimated 16 million out of contract mobile phone agreements out there (Picture: stock.adobe.com)

Energy bills

As it gets colder and we get closer to turning the heating on, we start to worry about one of our most out of control bills: energy.

The energy price cap (the average bill for a family) is due to rise to £1,723 a year in October. But you can still fix your bill under the current (lower) energy price cap. Here’s what you need to consider:

• Duration: How long is the contract?
• Discount: How much are you saving over the term of the contract?
• Volatility: Does the deal go up as well as down?
• Exit fees: How much do you have to pay to get out of the contract early?

Savings: from £150 a year for a flat to over £350 for a larger household.

Broadband and mobile phone contracts

There are an estimated 16 million out of contract mobile phone agreements out there and over 8 million broadband contracts that have elapsed too. This means you’re likely to be paying over the odds for your service. Yet it’s incredibly easy to switch providers, just check out the comparison sites for the best deals. You can do this with just one call to the new service provider.

Savings: between £200 and £350 a year for broadband only and over £600 for a TV streaming deal. Mobile phone switching could save you between £200 to £400 a year.

Water and council tax bills

Short of moving house, you’re stuck with your water and council tax bill in Scotland. If you have a water meter and you think you’re being overcharged, you can apply for a discount or exemption. But don’t forget you have a potential water reduction of 35 per cent if you qualify for council tax reduction – so check to see if you qualify.

Alternatively, Scottish Water has some free gadgets to help reduce your water consumption. Type ‘water saving’ into the website.

Savings: reducing your usage can cut bills by 20 per cent or more.

Cashback and voucher sites

Have you heard of smart saving? There are tonnes of apps and websites out there to help you get cashback as you spend. I use HyperJar and TopCashback, but there are loads of others. If you plan your spending, you can use these sites when you shop so you get paid cashback from the shops themselves, from supermarkets to big brands.

But you can also check your debit and credit cards too. You may find your card provider also has a range of offers, discounts and cashback deals too, just sat there waiting to be claimed. The same goes for utilities companies.

Insurance

Many of us don’t bother to switch insurance companies because it seems like a hassle. However, the savings can be fantastic if you act quickly.

Insurance firms must give you four weeks’ notice that your current contract is due to expire. If you call and threaten to walk three to four weeks before the expiry of the deal, you could get a major discount. You can also get great deals by combining your gadgets (phones, laptops, gaming systems) on to one multi-gadget policy.

Savings: £200+ for car or home insurance. £500 if you combine 5 gadgets on to one policy.

Subscriptions

Don’t forget that it only takes an hour to through your accounts and discover loads of subscriptions you don’t want or need. We have new laws covering subscription traps kicking in this January but cancel now and save a packet.

You can save up to £500 or more by getting rid of unwanted subscriptions – though some save much more!

Martyn James is a leading consumer rights campaigner, TV and radio presenter and journalist. Read more from him here