4 Ways for every London Mum to save money
- Published on Thursday, 04 June 2020 18:07
- Last Updated on 15 February 2023
- Monica Costa
- 0 Comments
The bills get bigger every year, and if recent times have shown us anything it is that our economic situation can change quickly, with a sudden reduction in our income.
We take a lot for granted in our lives. It is easy to take for granted that a bill simply costs what it costs, and not take the time to see what we can save if we shop around a little. Convenience food saves us time, but it always costs us money. Have you ever thought what you could save if you change a few of your regular habits?
We can actually put a few extra pounds in our pocket, and maybe spend a little extra on luxuries or holidays, if we take a few positive steps in the right direction and take more control over our family finances. Here are four great ways for any London Mum to save some money for the rainy days.
Shop Around on Your Energy Supply
Your energy bills have probably seen a spike lately, and you may be surprised by just how much your energy costs you. Whether you pay monthly, quarterly, or top-up credit on your meter, you have the right to switch suppliers for a better deal, even if you rent your property.
Searching to a better energy deal is easier than ever, and there can often be extra benefits to switching suppliers and doing it regularly. Many suppliers and energy comparison websites offer incentives for switching that can include cashback or free credit on your bill. By switching once or even twice a year, you can get a month or two of energy for free or get some extra money in your pocket. Look out for deals that include ‘early exit fees’, these will add a financial penalty if you switch early and should be avoided.
Make a Saving on Your Streaming Subscriptions
Every few years, a new bill raises its head and starts to chip away at your income. Decades ago, mobile phone plans and dial-up Internet services suddenly started debiting our accounts, and now it is subscriptions to media streaming sites.
Netflix, Disney+, YouTube Premium and more are often on top of a steadily increasing television licence fee, and possibly a cable or satellite tv service too. You can cut out a lot of these content contracts and reduce them to one simple payment with a smarter IPTV service like tellytime.net. For less than £10 a month, you and your family can have unlimited access to everyone’s favourite content, from one service available on multiple devices.
Cut Out the Fast Food and Takeaways
They probably solve a lot of arguments and are a quick and easy way to get something to eat, but takeaways and fast food outlets cost a lot of money and you don’t get much nutrition for your money.
If you have a family to feed then the cost of a trip to a fast food restaurant can soon mount up. If you make a hard rule for you and your family that you are cutting out the convenience food, then you will soon build up some big savings. A takeaway on a Friday night may seem like a treat, but this can cost £100 a month or more to feed a London family. The money you save can go towards a trip to a restaurant, and you can treat yourself and your family to a real meal.
Reduce the Cost of Transportation – Cut Down on Car Use and Costs
One of the biggest regular costs of living in London is the cost of transportation. If you own a car, the convenience can cost you a lot of extra money. Parking charges can be extortionate in London, and the extra cost a London postcode puts on your car insurance can be prohibitive.
London is blessed with an excellent public transportation network that uses buses and trains to get you just about anywhere pretty quickly. Making better use of the underground and overground public transport on offer can save you a lot of money. If you haven’t got an Oyster card yet, then you need to get one for you and your family members.
Make sure you shop around a bit on your car insurance too. If you have been with the same insurer for a few years, they will have likely pushed your bill up to cost you a little bit more. Get a fresh quote and see if you can save some money.
When times are tight and you need to find some extra money, taking just one or two of these steps forward can save you a lot of money every month. Getting control of your bills may seem daunting at first, but very quickly you will find out just how much fun it can be to save some money on your regular outgoings, and plan how you are going to spend what you save!
Monica Costa founded London Mums in September 2006 after her son Diego’s birth together with a group of mothers who felt the need of meeting up regularly to share the challenges and joys of motherhood in metropolitan and multicultural London. London Mums is the FREE and independent peer support group for mums and mumpreneurs based in London https://londonmumsmagazine.com and you can connect on Twitter @londonmums