A year of political chaos, continued low interest rates, mushrooming online fraud and a troubled pound has meant 2019 was expensive – and that’s an understatement.
Coupled with Christmas, the New Year festivities and all of that contactless use in between, means it’s time for a January detox – to get all that lost money back into your wallet.
But where to start? Well, you could ask for a pay rise, but there’s no guarantee your boss will deliver, so you’ll have to think outside the box – like by cutting your mortgage, phone bill, and other monthly outgoings instead.
“Everyone would like an extra £5,000 salary next year and you can generate that yourself fairly painlessly,” Laura Suter, personal finance analyst at investment platform AJ Bell, explains.
“If you’re someone who doesn’t regularly shop around each time a contract needs renewing, offer period ends or savings rate matures, you could be paying way over the odds for basic bills like broadband, energy, mobile phones and your mortgage. This is particularly the case when you include other areas, such as your TV package, your gym membership or other subscriptions you have.