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Tuesday, 12 March 2013

{2013} Money Matters: Cutting Costs

{Coin Purse by Oktak on Etsy}

Well didn't I just get the shock of my life this week. As part of my endeavours to save some money, I started looking around at our expenditure to see where we could make cuts. I bravely took a look at how much our house phone, TV subscriptions, broadband and mobile phones were costing. If you haven't done this for a while, make yourself a cup of strong tea, get your bills out, and get number crunching. You could save a fortune!

Expenditure:
Mobile 1: £38 pcm = £456 a year
Mobile 2: £8.67 pcm = £104 a year
TV, broadband, phone: £40 pcm = £480 a year
TV License: £145.50 a year

That makes a whopping £1185.54 on the luxury of communication and entertainment per year... It's so ridiculous, because to be honest we don't watch live TV or make calls from the landline and we don't have the latest fancy smart phones either!

I took a look at the mobile company we're with, and a few alternatives and realised for the same deal (but better coverage and more mobile web) we could save a lot of cash... We never use our TV for live broadcasts, so we're going to dump the TV package and the TV license and we can get 75% back on our TV license if we're quick (TV licenses work in quarters). If it was cheaper I'd dump the home phone too, but it's actually more expensive to only have broadband! Weird... Anyway, time to look at the numbers.

Potential Savings:
Mobile 1: £336
Mobile 2: £44
Broadband, phone: £184.20
TV License: £109.12

A saving of £673.32 in all! That means a saving of 57%! 

Wow... Right? And it wasn't like I trawled around 10 companies bartering for a better deal, I just looked at my current provider and one alternative. Imagine how much you could save haggling on the phone? I know what I'm doing tonight... Calling up my suppliers and getting better deals before I cancel the free evening calls package! ("Free" my tush, it's £8 pcm, another £96 a year that we pay for something we don't use!)

I'm off for a well deserved cup of tea, and to poke around the house looking for more places to save money!

Porcini x


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