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Save money on your bills

Bills, bills, bills. We all have to pay them, but could we be paying less? The answer is probably yes. We’ve put together some hints to help you cut your outgoings:

Published

31 Jul 2017

gym members at spin class

1. Are you paying some Direct Debits out of habit?

We’ve all been there: you sign-up for a gym membership or Netflix subscription and then keep paying for it long after the excitement has worn off. If you’re paying for music streaming you never use or magazine subscriptions you don’t read, then why not manage your payments by getting rid of unnecessary Direct Debits?

Spend 10 minutes going through your monthly bank statement and highlight all your non-essential spends. Then, go through each of them and ask yourself if you really use the service you are paying for? If not, cancel it.

2. Can you reduce your mortgage repayments?

Chances are, your mortgage will be your largest single payment so it is worthwhile making sure you are on the best possible rate.

The rate that attracted you in the first place might not be the same rate you’re paying now. Before you roll off your fixed term mortgage deal, get in touch with your lender to check that you’re on the lowest rate available to you. Find out more about our Tesco Bank mortgages.

3. Are you paying too much for your mobile phone?

Paying for more minutes or mobile data than you use?  Have you been going over your monthly allowance? Look into switching your phone tariff. You might also want to think about shifting from Pay As You Go to a monthly contract – or vice-versa.

Coming to the end of your contract? Make sure you do your homework to see what better deals might be out there – including what Tesco Mobile has to offer.

4. How can you reduce the costs of your gas and electricity?

Dig out your annual summary and most recent energy bills, then get yourself on a price comparison website. They’ll ask you a few details about usage; how you pay and how long you’re willing to sign-up. Competition here is fierce. They all want you as a customer, so shop around and switch to the cheapest option.

couple cooking dinner

5. Are you paying too much for your TV, broadband?

TV and home broadband doesn’t come cheap. It’s even more of an expense if you’re paying for channels you never watch. Go through your package and see what you could live without. If you’re still under contract you might be tied, but if you aren’t then say you want a better deal.

6. Could you be saving money while you spend?

Okay, so this isn’t technically getting your bills down, but you can make your money work for you as you spend. Many banks now offer reward-based accounts where you accrue points on nearly everything you spend.

Our current account debit card is also your Tesco Clubcard. So, you'll collect Tesco Clubcard points when you shop both in and out of Tesco. Find out more about our current account.

Important information

Until April 2019 we guarantee you will collect 1 point per £1 spent in each debit card purchase transaction (£1 minimum) within Tesco and collect 1 point per £8 spent in each debit card purchase transaction (£8 minimum) outside Tesco. Exclusions apply. Collection rates are subject to change. The Tesco Clubcard Scheme is administered by Tesco Stores Limited, Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, AL7 1GA, who are responsible for fulfilling points. The Tesco Bank Current Account is available to people aged 18 or over. Accounts are subject to status. This product is subject to availability and may be withdrawn to new customers at any time.

The content on this page aims to offer an informative introduction to the subject matter but does not constitute expert financial advice specific to your own situation. All facts and figures were correct at time of publication and were compiled using a range of sources.