A money expert has shared how to slash bills by £1,500 as the UK marks Blue Monday. Consumer champion Greg Marsh has compiled ways to save money this month as the country continues to struggle with the financial pressures after Christmas.
Consumer champion and CEO of AI household money-saver Nous.co, Greg, says: “Since 2018, the price of a 10GB SIM-only deal has dropped by 42%. The millions of households who are out of contract could save hundreds in a year.
‘The average monthly mobile bill for 3GB if you’re out of contract is £31.79, or £381 annually, according to Nous data, but you can get a 3GB sim-only deal for £5 a month to save £321 a year. Anyone out of contract can switch to a cheap SIM-only deal by moving network or haggling with their provider.”
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He also recommends to get cheaper broadband, adding: “Monthly prices on offer from independent full-fibre network providers are frequently lower than those offered by big brands. Smaller networks were offering services for as little as £25 a month in October 2023, compared to £50-£60 from big name providers.
“Based on the cost of a typical out-of-contract bill, households could save £429.” Greg also says the inflation dip could benefit homes across the country, saying: “In November the Consumer Price Index, which reached a high of 11 per cent in 2022, fell to 3.9% in November, considerably lower than expected.
“And the trend is set to continue. While prices are still rising they are doing so more slowly, which means the UK is moving closer to the Bank of England’s 2% target.” As well as saving energy bills through Nous.co, the expert reckons you should switch from Waitrose to Aldi and save £20 on an average shop
He also revealed household that’s remortgaging with a typical £200,000 mortgage can recieve rewards exceeding £250. “This will relieve some of the burden for the 1.6 million households who are due to come off their existing fixed deals in 2024 (though they will still see significant increases),” he said. “Mortgage rates are forecast to fall further this year as the Bank of England is expected to start cutting the base rate in the latter half of 2024.”
“Price per litre fell 6p in December to 146.69p. A full 55-litre tank now costs £77.32, down £3.40 in the month, according to RAC data,” he said. “Prices peaked in July 2022 at a record £1.92p a litre for petrol and £1.99 for diesel. Based on typical usage, a household will pay £69 a year less on petrol based on current prices.”
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