Everyone, unless, of course, you are a member of the British royal family, knows the pain of just having been paid for that month, only to see your money fly out again in direct debits, paying everyone from your mobile phone provider to the streaming service you forgot you had.
A little less money going out of your bank account every month and a little more in your savings is always a positive step in the right direction and with that being said, here are some important tips and tricks to pay less on your direct debits.
Buy a Prepayment Prescription for Your Medication
Unless you are incredibly fortunate and indeed, one of the few, as an adult, you will probably have at least one regular prescription medication each month, either as an emergency or else to take on a daily basis.
Now, if you have not already, it is advisable to sign up for a prepayment certificate, which will allow you to collect or even have delivered your prescription medication without payment. Make sure though that you opt to pay annually, rather than every month, or else you are likely to be paying more than you have to.
Take the Time to Compare Different Providers
When it comes time to renew your car or homeowners insurance, although it is often easier just to remain with the same insurer for another year and even more so when the company automatically renews without informing you, it pays to shop around.
First off, once you receive your new insurance quote, call the company directly and ask them if it is the best they can do, before calling at least three other insurers who offer identical coverage and compare prices.
Once you have found the best price, it is certainly worth contacting your current insurer, as it is highly likely they will reduce the price to keep your custom. Check with your current internet service provider too, especially as you need to be sure that you are paying the bare minimum for your services and that you are basically getting the best possible deal for your money.
Switch to a Sim-Only Mobile Phone Package
Now, this next tip to reduce the amount of money you are paying out in direct debits every month will only be suitable for you personally should you be happy to no longer have the very latest in smartphones.
However, if you are happy having the generation before the latest (and in fairness, there is always a new release around the corner), then you will save a staggering amount of money switching to a sim-only deal.
Consolidate Your Debts
Finally, if you are one of the many people, both here in the US and farther afield, who owe money to various companies (also to varying degrees of prestigious standing), then if you are struggling to manage, you could consider debt consolidation.
Obviously, if you are considering this, then you should absolutely consult your financial advisor, or at least book a meeting with a qualified accountant, but this would mean your debts would all go out of your bank account in a manageable sum in one go.