Tuesday, July 12, 2011
Category:
Consolidation
In light of the announcement regarding further energy price increases, Moneyextra.com has highlighted that it will be important for consumers to spend their money more wisely in all areas. It has been pointed out that the price hikes ‘will no doubt put a tighter squeeze on household budgets’. Therefore, consumers are being advised to stay out of debt by acting now to reduce their bills.
Moneyextra.com has offered five tips to assist consumers with reducing their utility bills:
- It is typically cheaper to combine gas and electricity bills, as opposed to keeping them separate.
- Many utility providers offer reductions for paperless billing, so opt for online billing.
- Access to better premiums is possible when paying by direct debit, so pay via this means where possible.
- Upon receipt of supplier literature regarding potential savings, be sure to read this.
- To protect from further increases in price, switch to a fixed rate tariff.
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Homeowners who are struggling to keep up with rising living costs could consider taking out a secured consolidation loan. One of many finance options available, a secured
consolidation loan could allow borrowers to tie up any existing debts into one manageable monthly repayment. What’s more, this single monthly repayment could even be lower than the sum of existing outgoings, which would thereby free up extra money each month. However, if opting for a secured consolidation loan, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
