A mum turned finance expert says she cut more than £900 from her annual expenses by cancelling just three bills, and she is encouraging others to do the same. Lynn Beattie, better known as Mrs MummyPenny, says a simple audit of your monthly bills is the best place to start if you want to save money - with costs spiralling across the country for everyone.
Single-mum turned finance expert blogger and podcaster Lynn, told The Mirror she saved almost £1,000 a year by cancelling three non-essential bills. She said: "These creep in, free trials that you forget to cancel or services that you are not getting your monies worth. Go through your list of monthly bills and be strict, cancel those that you don’t need."
Lynn started by cancelling Amazon Prime, Disney+ and Mindful Chef recipe boxes - a saving of £76 a month or £912 a year. She also has a tip to cut energy bills - which are going up from today, saying: "Check to see if you are in credit on your energy bill, if so you have a case to get your monthly direct debit reduced."
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Lynn cuts her water bill by having a meter and taking shorter showers. And she switches broadband provider every 12 to 18 months. Lyn said: "Switching from EE to Virgin broadband recently netted me an extra £105 cashback via TopCashback and saved me £30 per month."
She has also switched to a sim-only contract for her mobile phone saving £30 a month. Lynn says she checks her home insurance every year to make sure she gets the best deal, rather than autorenewing - and pays the £130 in full rather than splitting it over the year - which costs more.
She added: "I have moved my car insurance to pay as you go insurance with By Miles. This will save you money if you are a low milage driver, driving less than 8,000 miles per year."
Lynn says she also has life insurance, and added: "My total essential bills per month are around £500 per month. How do these compare to you?"
