Last year was a tough one for many hard pressed families up and down the country. With rising energy bills, food prices, insurance premiums and petrol prices, many were struggling to make ends meet.
Unfortunately things do not look to be getting any easier in 2012. That is why Money Supermarket, have released their new TV advert campaign, challenging the people of Britain to save their families over £1000 in 2012. See the video below:
Save over £1000 at Money Supermarket
Save £500 on your car and home Insurance
According to Consumer Intelligence it is possible for families to save up to £500 by finding a better deal on both their car and home insurance.
There is an average saving of £371.53 on car insurance whilst homeowners are able to save an average of £127.35 by shopping around for a cheaper deal on their home insurance premiums.
Kevin Mountford, head of banking at the comparison site said “These savings don’t even require a change of lifestyle, but simply a few minutes of research to check what deal you are currently being offered, comparing it to other products and changing it to a more competitive deal if necessary.”
There are other ways to reduce your insurance premiums, such as increasing the excess payment. Remember this is the amount you will have to pay towards any claim that is made so make sure you set the excess at an amount that is affordable to yourself.
Fitting an alarm system to your home and/or can also reduce your premiums. For example, attaching the NACOSS standard alarm system to your home can save up to 7.5% off your house and contents insurance premium.
Another £500 to be saved on credit cards and loans
At a time when the banking industry is fighting for our business, interest rates on credit cards and loans are at an all time low.
If you have any credit card or loan debts, then you should really look at the interest you are being charged on them.
There are a number of credit cards offering 0% interest rates on balance transfers, with up to 24 months in which to clear the debt at the promotion rate. This could save you over £270 in credit card interest rates alone.
On an average loan rate of 11.76% on a £7,663 loan, by switching to a cheaper rate of 6.4%, another £220 can be saved on interest payments.
There are even more ways to save money this year, by switching to a cheaper tariff on your energy bills, shopping around for the cheapest travel insurance if you are going away this year and making sure you are on the best deal for your home phone, TV and broadband deal.
“Significant savings can be made by switching to a better deal and you may find it could be the best resolution you have ever made”
Visit the frugal family facebook page and let us know how much you have saved so far this year.
This is a guest post.
great post!