A Martin Lewis fan has shared how she saved £213 by making five simple changes.
The woman, known only as Sam, said she was able to lower her outgoings after going through her finances. Sam also made more interest on her savings after moving some of her income around.
The 65-year-old said she is on Universal Credit with an enhanced rate for her disability. She wrote in to Money Saving Expert to explain how she used its new car insurance comparison tool to save £53 compared to what she was spending last year.
READ MORE: Martin Lewis' Money Saving Expert team shares how to get up to £175 for free from banks
She then haggled this renewal price down by a further £32 with no loss of cover, to add to her saving, reports the Mirror. Her next success saw Sam save around £5 a month on her internet, after signing up to the BT Home Essentials social tariff, which she is eligible for because she claims Universal Credit.
Sam also contacted her water company and was awarded a 20% discount worth around £40 a year, after answering questions about her circumstances. She also saved £60 a year by switching her mobile sim to a cheaper deal.
Another change Sam made was setting up a standing order so a small portion of her income goes into a cash ISA, instead of sitting in her First Direct current account. She also moved across £3,000 of savings into the same cash ISA as it was “doing diddly-squat elsewhere”.
Sam said: “All totalled up that's £213 a year, plus the little bit of interest from the ISA. It won't cover the energy increases, but I've gone from being very worried to concerned, and I feel so empowered because I've done something about my finances.”
With the cost of living soaring, checking your finances have never been more important. April has brought with it a whole raft of price hikes.
The energy regulator Ofgem has increased its price cap by an unprecedented 54% in a huge hit for household bills. For those on a default tariff who pay by direct debit, the price cap has gone up by £693 from £1,277 to £1,971.
Council tax and income tax have also risen. And for homeowners, mortgages with a variable rate are now more expensive after the Bank of England hiked its base rate to 0.75%.
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