The current cost of living crisis has seen many bills rise from our energy bills to our weekly shopping trip.
And whilst we are doing what we can to keep as much cash in our bank accounts, it's best to regularly check what you can and cannot afford.
It comes as Money Saving Expert's Martin Lewis has been handing out advice on what you can do to keep track of your outgoings which should help you budget better.
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But before you jump straight into thinking about what you need to do when it comes to money, the Mirror have listed some categories you will want to check ranging from broadband, council tax, energy and subscriptions.
Here's what you should know...
1. Broadband
Once you have reached the end of your contract, you should be checking deals elsewhere to ensure you are getting it as cheaply as you can.
You should look back at how much you have spent over the last year and taking into account whether you need to remain on the same package type or whether you can actually drop how much you are needing.
If you don't want to switch, you can talk to your provider before your contact is due to renew at the higher price and see what deals can be done.
Keep in mind that if you’re still in contract, you may be charged an exit fee for switching.
If you claim certain benefits, you may be able to claim a social broadband tariff which is usually cheaper. TalkTalk offers free broadband for six months for jobseekers on Universal Credit, at the discretion of your local JobCentre. Elsewhere, the cheapest social tariff starts at £12 from Vodafone.
2. Mobile
Just like your broadband, as soon as your phone contract is due to renew, depending on your contact, you should look elsewhere to see if you can get it cheaper. But just like above, bare in mind you may be charged for leaving mid-contract.
3. Insurance
If you've got an insurance policy due for renewal such as car or home insurance, you should start comparing prices early says MoneySavingExpert who advice that around 23 days before your car insurance is due to expire, now is the time to start looking for cheaper deals.
They add that for home insurance, compare prices 21 days before.
4. Subscriptions
Millions of household across the country have some form of subscription service whether its Netflix, Amazon Prime or Disney +. The gym is also included in this and whilst it can be great to get out and about with exercise crucial for many, you may want to see how often you use the gym.
As well as this, check how often you watch movies and TV shows on these streaming sites to see whether or not it is worth keeping.
If you pay monthly, you should be able to cancel that service immediately and the payments will stop.
If you've made an annual payment, you may be able to get a refund on the months you have remaining but there is no guarantee. Read the terms and conditions carefully to check your rights when it comes to cancelling.
5. Council tax
The UK's Money Saving Expert team have revealed five reasons why people may be paying too much council tax, and how they can secure discounts. Whilst it is not guaranteed that you will be able to get a discount, it is always worth checking as you could unknowingly be in the wrong council tax band and paying too much.
During his money saving show, Martin Lewis warned that it is your own responsibility to check that you are in the right band.
You can read the full story here.
6. Energy
Money Saving Expert has reminded Scottish households on certain benefits that they can get £150 off their energy bills this winter under the Warm Home Discount scheme – but, unlike in England and Wales, many in Scotland still need to apply.
They warn that people should do it as soon as possible as in some cases, it's on a first-come, first-served basis.
In an update at the start of this month, the MSE team say that many companies are now beginning to close their schemes so people should therefore "apply as soon as possible to ensure you don't miss out."
You can read the full story here.
7. Mortgage
The cost of moving out has increased this year with many being unable to afford the big move due to a change in mortgage deals and interest rates.
To put this into perspective, the average interest on a two-year fixed contract has surged from just over 2 per cent to 5.75 per cent since December 2021, according to the Mirror.
If you've got a fixed rate deal that is about to expire, you may face an increase in how much you will need to repay every month. When your fixed rate ends, you'll likely roll on to your lender's standard variable rate (SVR). These are usually more expensive - unless you fix into another deal.
However some lenders let you lock in a rate six months in advance, and many more let you lock in three months ahead.
There are many factors to consider when fixing into a deal. For example, how long do you want to fix for? How big of a mortgage do you have?
You should speak to a broker to work out the best options for you.
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