(This is in no way financial advice. But looking at my spending is something that I have done myself and I think that it is really useful)
This is the second part of the post about budgeting where you look at your spending
Budgeting will help you to plan ahead and to better manage your finances.
Managing small subscriptions and direct debits.
When creating a budget it is good to start out small and look at the spending that you are already doing on direct debits and subscriptions like phone contracts and paid tv subscriptions. Most online bank accounts should let you check your direct debits and subscriptions. Like mobile phone and broadband like internet, TV and phone.
If you don’t use online banking, ask your bank if you can check your direct debits and subscriptions.
Phone contracts
If you have a phone contract and once you have paid it off. Why not keep the phone and go to a cheaper sim only contract. These are some really good websites that you can look at and compare the sim only contracts, from all the phone networks. The website that I use is Money saving expert and Money supermarket.
Broadband
When looking at new broadband deals it is best to use different comparison sites like comparing the market, Uswitch, Money supermarket.
If you are on a low income or on benefits you could be eligible for social tariffs the broadband providers that currently offer these are: BT, Community Fibre, G.Network, Hyperoptic, KCOM and Virgin Media O2 to read more about 02s offer please read https://www.o2.co.uk/national-databank.
To find out more information about social tariffs Please read this article for more information https://www.moneysavingexpert.com/news/2022/02/broadband-affordable-tariffs-social-tariff/
The above article was last updated in 16 February 2022
It is also a good idea to order or download your bank statement every couple of months or so just to check all your direct debits and subscriptions to see if you can make any more savings.
If, after you have created your budget and find that you need any more help with your finances. Check if you are entitled to financial help by looking at entitled to or turn2us both of these websites have good benefit calculaters, where you can check your entitlements.
(Do not cancel any direct debits and subscriptions without talking to the companies that there coming from first.
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Linked here are the other articles on this subject.
Saving your money and saving accounts