How you can save more... tips
There are many ways your money can work harder outside of your Tesco savings accounts.
The old adage, "look after the pennies and the pounds take care of themselves", is as true today as it's always been. Here are some ways you could save money:
Review contracts with your service providers
This is worth doing once a year. Look over the annual costs of your energy suppliers, landline and mobile phone providers. Often, a deal that includes phone, Internet and cable TV could be the cheapest and could save you a great deal over a year. When your insurance is up for renewal check to see if you can get a better deal by insuring your car, home and pets with the same provider.
Pay your credit card bill in full every month
Most credit and store cards charge at least 15% in annual interest if you do not pay off your cards in full every month. This is an expensive way of getting credit, and if you're unable to pay every month you could consider a loan to consolidate these debts at a lower rate. If you are transferring your balance then read the fine print about what happens after the introductory 0% balance period expires.
Clear your mortgage as soon as possible
If you have a mortgage, the repayments are probably your single biggest expense. First, shop around with other lenders to see if you can get a better rate; with a few calls you may be able to save thousands of pounds in the long run. Once you're satisfied that you're getting the best possible terms, you should consider using the newly-available funds to overpay the monthly amount: overpaying by £100 a month can shave years off your mortgage!
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