Many of us are feeling the economic pinch...
Constantly increasing bills result in an ever-diminishing amount of money being left in our pockets at the end of each month.
One of the most straight-forward ways of boosting the cash at our disposal is by ‘switching to save’.
From energy bills to insurance premiums and broadband packages to credit cards - there are hundreds of pounds worth of savings to be made for those who are prepared to shop around.
And switching supplier is far easier than many believe.
CABA's debt and advocacy team leader, Will Solomon, says that one of the main reasons why people don’t switch is because they feel “a sense of allegiance” to service providers.
Will explains: “But the important thing to note here is that when someone switches provider, the only thing that changes is the amount they pay and the customer service they receive.
“With utility services, for example, customers still receive the same gas, electricity, pipes, meter... and safety.
“But some people still believe that there will be massive upheaval if they move from one provider to another –this simply isn’t the case.”
Will adds that people need to be “savvy” when it comes to switching.
They should undertake comprehensive research – both online and over the phone - well in advance of their previous contract expiring to get “the whole picture” about the product or service that’s right for them.
Will adds: “The process of comparing packages has become much easier with the internet.
“There are some excellent websites which find the best deal for you whether you want to change utility provider, get a cheaper credit card or find a broadband package that gives you more for less.
“If time allows, I think it’s worth using as many price comparison sites as possible to get the most comprehensive picture.
“And it’s also worth remembering to check the detail. For example, does one car insurance policy include legal cover while another - which might only be few pounds more – exclude it?
“On occasions like this, it might be worth paying the extra.”
Among the websites recommended by Will are:
• http://www.uswitch.com/
• http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity
• http://www.electricityprices.org.uk/change-electricity-supplier/
He continues: “If time allows, I’m also an advocate of ringing the company that provides your current service directly.
“For example, some mobile phone companies will actively find ways of reducing your tariff once you inform them that you are considering leaving.”
But Will advises against taking out many different credit cards with a variety of companies over a short period of time simply to take advantage of promotional offers.
Credit information is shared among companies and card ‘surfing’ in rapid succession has resulted in applications being declined.
Will adds: “There has never been a better time to look into the possibility of switching to save.
“There’s the potential to cut your bills - but always do your research first.”
CABA is dedicated to providing a free, impartial and confidential advice which empowers people to maintain their independence by managing their finances for themselves.
For further information contact CABA’s debt and advocacy team on 01788 556366.
© CABA 2011