MONEY TALK SUE’S GUIDE TO Getting Clever With Your Cash
Consumer expert Sue Hayward’s savvy finance tips and advice
We all go through sticky times with cash. Sometimes it’s unexpected life events like redundancy or a relationship break-up. Or if you live life on the financial edge, just one big bill can tip you into the red. Here’s how to help yourself whatever your situation. Keeping the roof over your head
Speak to your mortgage lender if you’re struggling. New rules brought in since the coronavirus pandemic mean you can apply for a mortgage payment holiday. Free help and advice is available from Citizens Advice, StepChange or National Debtline. Battling with bills
Check you’re getting the best deal on ever ything from car and home insurance to energy, broadband and your mobile.
Sticking with the same provider is often the fast-track way to paying over the odds. So shop around a month before contracts or policies end and switch providers to save. Credit card worries
Need breathing space to clear your cards? Apply for one with a 0% balance transfer deal to save on interest. The longest ones out there right now are from TSB which lasts 30 months and Virgin Money at 27 months. Bank balance running dry?
It may not be a fun job but it can save big bucks – go through bank statements and check if you’re shelling out on subscriptions or policies you don’t need, like extended warranties or anti virus software that’s typically set for auto renewal. Cancel payments once you’re out of contract.
◆ Use price comparison sites like WWW. COMPARETHEMARKET.COM and WWW.USWITCH.COM to compare insurance, energy, broadband and mobile deals.
◆ If you switch a credit card balance to a 0% deal you may have to pay a small balance transfer fee. Typically up to 3%.
◆ Check direct debits and standing orders on your bank account to ensure they’re for services and products you need and use.