Money isn’t everything, but it certainly helps. It can sometimes feel like an uphill struggle trying to boost our savings, as there always seems to be an unexpected bill or another birthday to pay for. That’s why we’re offering some helpful tips to help you to maximise your finances.
Check Your Council Tax Band
When was the last time you checked your council tax band? Have you ever? If it’s been a while or not at all, it might be time to find out if you’re on the right band. Many people make the mistake of assuming they are on the right council tax band, when they’re paying over the odds every month when they don’t have to.
Change Mortgage Provider
Did you know you can change your mortgage provider? So many homeowners settle for their mortgage interest rate, believing they can’t make a change. However, you actually can. It always pays to compare your mortgage to other providers, and you could end up saving hundreds, if not thousands, of pounds each year. Review your mortgage provider once per year to check you’re receiving the best deal for your property.
Review Your Tax Code
It’s painful enough having to pay tax each and every month, but it’s so much worse if you’re paying more tax than necessary. If you think you could be on the wrong tax band, contact HM Revenue and Customs to see you’re paying the right amount of tax each month.
Open an ISA
If you’re a tax-payer, we strongly recommend placing your savings in a tax-free savings account in addition to your checking account. ISAs are a great way to save without worrying about being hit with tax. So, if you want to save a significant amount of money each year, make sure you pick the best ISA account for your cash.
Have you ever paid out for payment protection insurance on a loan or credit card? Well, there is a possibility that you’re owed PPI compensation. If you ever been mis-sold PPI, you are legally entitled to make a claim against the lender; however, you only have until 2018 – so contact a PPI claims company today to receive the compensation you deserve.
Sign Up for Childcare Vouchers
Are you paying out for childcare every week? You could be entitled to childcare vouchers from your employer, if this is a service they provide. By signing up to childcare vouchers, you could save up to £1,196 every year. What’s more, your partner can also sign up for childcare vouchers, too – which means you could save a combined total of £2,392. Oh, and you can also receive free part-time class places at nursery or reception during term time for children aged between three to four years old.
Grab Every Offer
If you want to boost your savings, you would be a fool not to grab every single offer that comes your way. That means you should sign up to every retailer’s discount card, make the most of online discount codes and use shopping vouchers that come in the post. Those little savings will add to big savings in your bank account.