Paying back your debts can be made harder if your outgoing payments are costing you more than they should. There are a number of ways to help you repay your debts and finding the best solution for you can be made a lot easier with our Debt Solution Finder.
A lot of the time, a fresh start is all that you need to help save you £100’s on your outgoing payments and understanding what your bills are doing and saying, can help you immensely.
Understanding Bill Terms
Bills can be very confusing if you don’t know what you’re looking at. This is where a lot of people miss out on lowering their outgoing payments as certain terms can get confused if not fully explained.
Credit or Debit?
The terms, credit and debit don’t refer to your card type. On your energy bills your credit means that you have paid too much on your energy bills whilst your debit means that you owe your supplier money.
You’re billed on how much energy your household is using. This is one of the key areas our Fresh Start scheme can help you to reassess and save money on. Your bills will refer to kWh (a kilowatt hour) which measures the energy you use. 1kWh, for instance, is equal to 1,000 watts of energy.
Once you understand what your bills are telling you, you can then look at comparing your outgoing payments. If you find you might be paying more than you need to be, switching suppliers can save you £100’s.
Switching Your Energy Suppliers
Hundreds of people have found that they’re able to save £100’s simply by switching their energy supplier. The tariff is your main aim. Knowing the exact tariff you’re on will allow you to successfully find the same tariff at a cheaper rate with a different supplier.
Typically a standard tariff rate can cost you over £1,000 a year. Doing a comparison can introduce you to deals as cheap as £900 a year. Finding the best tariff for you no matter which region you’re in, can be made a lot easier if you do a site comparison.
Monthly Direct Debits
Paying your bills via a monthly direct debit can help you save between £70-£90 a year. However, a monthly direct debit works out what you spend over the year and divides it between 12 months. What you spend one month, may not be the same as what your direct debit has estimated. Making regular meter readings can help you keep the cost of your outgoing payments down.
Read Your Meter
Your supplier may give you an estimated usage of your energy per month. These are rough calculations and may not reflect what you actually owe. If your supplier is under billing you, you can be landed with a hefty bill at the end of the year you may not be able to afford. If your supplier is over billing you, they will be taking more money from you than you owe.
Regular meter readings after every bill can help keep your bills down and accurate.
We understand how daunting bills can be, that’s why our Fresh Start scheme is in place to help you assess outgoing bills such as:
Fresh Start also helps you to assess your benefit entitlement and maximise your monthly income so you can pay back your debts faster. For more information, contact us today on 0800 011 2322 and our friendly, professional team will be happy to help.