Personal finance experts at money.co.uk, part of the same group as Uswitch, have shared some money saving tips on subjects from budgeting to finding the right savings.

Budgeting

Drawing up a budget makes it easier to manage your money and ensures you are not caught out by any unexpected expenses. Here are some tips on how to write a budget.

  • Compare products

Comparing quotes from different providers will help you find what you need and get a better price for that product. You may find lesser-known companies that offer the product you want at a much lower price. 

  • Find the right savings for you

There are a lot of savings products on the market, but the right one for you can help you earn money on your savings or build up a useful pot.

  • Switch to save

Your current provider may have been the best for you when you signed up, but that may not always be the case. Switching banks, lenders or insurance providers has never been easier. It can be a great way to save hundreds of pounds.

  • Avoid paying interest when possible

One way to avoid paying interest on credit card debt is to pay off your balance in full every month. This way you won't be charged interest on your credit card spending.

Another option is to get a zero per cent purchase card. These cards offer introductory interest-free periods that can range from three months to 29 months. Once the interest free period ends, you could opt for a zero per cent balance-transfer card and avoid paying interest on your debt. 

Where to get free independent advice if struggling with debt

While building a budget you might find that you have upcoming bills that you’re going to find it hard to meet. It’s a horrible situation, but there are places you can turn to for help:

Contact the Financial Ombudsman Service if you think you have been mistreated by a bank, lender or insurance provider and it has failed to resolve your dispute through its complaint process. The ombudsman service is free, independent and can compel businesses to compensate anyone who has lost money.

Visit www.money.co.uk for more information.

Related links

Where to get help with energy bills 

If you find you're struggling to pay your energy bills, there's plenty of help out there — from government grants to supplier support. Uswitch has identified five key sources of support for you.

Mobile phone switching

If you've decided to switch your phone network, here are some key points to bear in mind.

Broadband switching

If you've decided to switch your broadband network, here are some key points to bear in mind.

About money.co.uk

Money.co.uk is a free, online comparison site, that allows you to compare thousands of financial products ranging from credit cards, loans, car insurance, mortgages, current accounts and savings accounts, to investing and travel money. 

Uswitch is a comparison website for home services switching. It says it has saved consumers £2.5 billion on their energy bills since launching in September 2000 and helps people find a better deal on their broadband, mobile, TV and financial services products. 

If you would like some help deciding which provider is best for you, call Uswitch on 0800 014 29 20.