Martin Lewis has issued a stark warning to Britons who are 'ripping themselves off', urging billpayers to take action immediately and reap the benefits of lower expenditure. The MoneySavingExpert.com founder detailed how price rises as of current are 'pushing many to the brink' - in a warning pushed through his site's latest weekly newsletter.
However, he warned that some are 'unnecessarily haemorrhaging money' by failing to find the time to slash outgoings. Six key areas where savings can be made were targeted in the newsletter, including water bills, mobile phones, Wi-Fi, food, petrol and savings rates.
He explained: "The truth is many people are ripping themselves off by inaction - sticking loyally with providers or the status quo - without realising that they're unnecessarily haemorrhaging money by doing so. So this is my call to self-arm with facts and tools to slash your bills, if you haven't already."
Read more: Martin Lewis fan explains £900 annual savings on household bills
Here are some of the savings to be had via Martin's advice, as reported by The Mirror.
Water bills -
Should your household have the same number of, or more bedrooms than people - Martin explained how you could save by having a water meter fitted. Alternatively, if the water company refuse to fit one for you, you could see a cheaper assessed charge.
Martin also detailed cheaper social tariffs for households on Universal Credit as well as other benefits, plus capped bills under the WaterSure scheme. Finally, you can also enquire about free water-saving gadgets, available through Save Water Save Money.
Mobile phones -
You'll more than likely find the cheapest mobile deals on SIM-only packages, according to the financial buff. Which means that if you've already got a mobile which is paid off, and you're out of contract, a SIM deal could save some serious cash when compared to an additional handset loan.
You can check out the best deals on sites like Uswitch.com and Compare the Market - and if you're switching provider but want to keep your number, just text 'PAC' to 65075.
Wi-Fi -
If you're out of contract with regards to Wi-Fi, you should compare prices to find cheaper deals. Should you find a better product, you can always move to said provider - or simply ring up your existing firm to try to haggle.
Households on certain state benefits may also be entitled to cheaper social tariffs, which could save money when compared with mainstream deals.
Food -
Making the most of coupons and comparing prices are a couple of ways to save on your shopping, while you can also use the likes of Trolley.co.uk to check prices online. Martin also suggests attempting the downshift challenge - in which, you swap out branded goods for cheaper and cheerful budget ranges.
Petrol -
You can compare prices for fuel online using PetrolPrices.com. Additionally, you can save on petrol and diesel by making your car more fuel-efficient.
For example, keep your tyres properly pumped up, empty your boot and take down the roof rack when not needed. Driving more efficiently can also slash the bills - so go easy on the accelerator and refrain from braking harshly.
Savings rates -
Many savers are still letting their money tick over in accounts which pay just 1 per cent interest. Currently, the top-paying easy-access rate is 4.35 per cent by the Family Building Society - but you're limited to simply withdrawing and depositing a minimum of £100.
The best paying account without restrictions comes in the form of Chip, who pay 4.26 per cent respectively. If you can afford to lock your money away meanwhile, you're best off going with Investec - who pay 6 per cent for a one-year fixed account.
