The WonderBill Saving Guide

We’ve written about switching energy providers being a great way to help tighten up your finances — but what else can you do to save money?

Start by looking at your monthly outgoing payments.

Where’s most of your cash going? Are you spending too much on food or subscriptions that you don’t use?

Never fear! We’ve compiled some tips to help you take control of your spending.

Eating out

A great way to save money is to look at how much you’re spending on eating out.

If you’re spending a lot on takeout coffee you might consider investing in a cafetière or a pour over dripper so you can make fresh coffee yourself for a fraction of the price.

Having a stylish thermos will also help motivate you to brew at home.

Eating out at lunch is another avoidable spend; consider bringing a packed lunch most days and treating yourself to lunch out every so often.

You’ll appreciate it more and you’ll save money. The same goes for restaurants and bars. It’s a great treat when it’s not routine.

When it comes to grocery shopping, it’s all about making use of staple foods. Embracing fresh vegetables and grains and reducing convenience foods can help your health as well as your wallet.

Scheduling a monthly shop and keeping on top of fresh ingredients during the week means you’re not wasting perishables.

Home entertainment

We’ve all become increasingly reliant on our devices in recent years, with 95% of Britons owning a mobile phone and 88% of British households having WiFi in 2016.

Mobile phone contracts can be a large drain as often you’ll be paying off your handset as well as the service.

When your next contract ends, think about switching to a sim-only contract. This can significantly reduce the amount you’ll spend as you’ll own your handset.

Sim-only contracts are widely available on the market, with most providers offering a considerably cheaper plan with just as many benefits.

Digital TV, mobile and broadband subscriptions are contracts where you might be able to haggle for a better price.

Calling and asking for a better deal or threatening to leave when your contract’s up might mean your provider will offer a price reduction or bonus services to keep you from leaving. Find out more about how to haggle here.

There are also services like Netflix who’ll let you pause your subscription if you need to. Don’t be afraid ask your provider what they can do to keep your loyalty.

Having fun

It’s easy to get caught up on an evening out and spend money you shouldn’t be spending, but saving money doesn’t mean you have to stop having fun, we promise.

Try organising nights in with friends where everyone brings food and drink, or check for free local events in your community.

Find local museums or art galleries and take your friends out for a day of culture, or have a look at coupon sites like Groupon to find discounted tickets and offers.

If you’ve got children, there’s a wealth of cheap and easy days out that you can arrange. Find ideas here and here.

If you’re having trouble keeping track of your socialising money, set up a monthly budget and try to plan accordingly.

Your friends will support you in your money-saving journey so don’t be afraid to say you need a cost-effective evening — they probably do too.

Paying bills

Keeping an eye on your monthly bills is important when it comes to setting up a monthly budget. This is where we come in —helping you see all your bills in one place.

You can also use your WonderBill account to compare mobile, tv, broadband, phone and energy services and save money. We can even help you switch energy providers!

Try to arrange your payment dates around payday so that your bills are all definitely paid in case you overspend.

There’s no definitive budget that works for everyone, but try breaking down your monthly expenses into categories and examining each one.

Set yourself a budget that meets all of your commitments and put away some money every month in a savings account for an emergency fund if you can.

Staying green

It’s easy, especially during the winter months, to lose control of your utilities.

Between the heating cost and the extra electricity used for Netflix, the holiday season ends up being incredibly expensive.

To make the most of what you’ll be paying, make sure your boiler’s in good shape and that your house is properly insulated.

You can also keep your house warm with draught excluders and heavy curtains.

Contact your gas supplier to ask them if you might be eligible for any upgrades under the ECO (Energy Company Obligations) scheme.

For more information about how you can save money by switching providers, click here to read our switching guide.

Spending less money is something most people are working on and nobody is perfect. Financial health is something you have to work on and it’s always going to be a project, not a finished product!

These tips will give you an idea of how you can spend your money more consciously and also improve your creativity.

You can find more advice for saving money here and here.

WonderBill can help you track your household bills and find better deals with your providers. Visit us at www.wonderbill.com to make your first step towards your new money-savvy life.

Thanks,

The WonderBill Team