With soaring energy bills and rising inflation, many people are looking at ways they can save a bit of cash.
And Martin Lewis has explained how families can save money ahead of the energy price cap rise in October. The MoneySavingExpert founder has explained four ways families can "still make large savings" which could be vital ahead of winter.
It comes as Ofgem confirmed its price cap will hit a hideous £3,549 from October 1, for those on default tariffs who pay by direct debit. Martin Lewis is urging people to look at ways they can save and explained how you can earn some extra cash, the Mirror reports.
Read more: First DWP cost of living payment of £326 being paid from today - see who is eligible
Writing in the latest MoneySavingExpert email, Martin said: "It's tough to save on energy bills, but many can still make large savings elsewhere. Of course, those who've already cut to the bone won't be able to do anymore, but many others, for whom the scale of the challenge is just dawning, should see this as a clarion call to check all your outgoings.
He continued: "These are just scratching the surface, do check our full money makeover guide to go through everything." Here are his four tips to save money and get extra cash:
Check if you’re entitled to benefits
See what benefits you might be entitled to by using a free calculator online - for most, you’ll have an answer in ten minutes. Some of the most popular ones include Turn2us, Policy in Practice and entitledto.
You'll need to answer questions about your household living situation, income and employment status to get an accurate result. Once you've found out if you're entitled to any benefits, you'll then need to apply for them through Gov.uk.
The amount you could be eligible for depends on your circumstances - but it could be in the thousands. MSE has previously said those earning £40,000 might even be eligible for extra cash.
Check if you can save money on broadband
There are plenty of “social tariffs” out there - these are discounted deals - that could save you cash if you’re on benefits or a low income with TalkTalk offering a six-month free deal if you’re a job seeker.
If you're not eligible for a "social tariff" you should use a comparison site like Uswitch.com to compare the latest broadband and mobile prices. Once you have found a cheaper deal, you can either move to your new provider or try and haggle down your existing company.
Check if you can save money with a water meter
A water meter is a device that records the amount of water being used in your home. This is then used by your supplier to work out how much you should be billed, instead of your household being charged a fixed rate.
If you have more or the same number of bedrooms in your house than people, then MSE suggests it is worth seeing if you can save cash. Water meters are free in England and Wales. You’ll need to speak to your water supplier and ask if they can install one for you.
Check if you can cut your credit card debt
If you have credit card debt, pricey interest rates will likely keep you paying it off for a longer amount of time. See if you can move the debt you owe over to a 0% interest balance transfer card.
This is where you shift the money owed on one card to a new one that comes with a 0% interest-free period. At the moment, the longest 0% balance transfer card is from Sainsbury’s Bank, offering 34 months interest-free, with a 2.88% or 3.88% fee.
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