5 Things You Never Knew You’ve Been Doing Wrong

We’ve all seen the lists of little thing we never knew we were doing wrong; folding t shirts, opening cans, peeling bananas. Doing these things right definitely improves your everyday, but what about correcting the mistakes that are actually losing you money!? We’ve put together a list of things you might not even know you’re doing wrong, but doing them right could save you a lot of money.

1. Staying on your mortgage lender’s standard variable rate

Staying on your mortgage lender’s standard variable rate (SVR) could be the biggest mistake you are making financially. The smartest homeowners are remortgaging as soon as their introductory offer ends, and you should be too. That’s because remortgaging can save you thousands of pounds. Why? Because your lender’s SVR will likely be a far higher interest rate, and almost definitely not your best option.

It might seem a bit daunting to shop around for your best deal. If you’re not sure where to start, there are sites out there like this one that will do the hard work for you, and find your best remortgaging deal. Yep, that’s right, deals tailored specifically to your needs. Best of all, the service is 100% free, so you really have nothing to lose by finding out what your options are!

2. Settling your parking fine straight away

We’ve all been there. You return to your car, ready to jump in and drive home, and find a parking ticket slapped on the windscreen. You’re now faced with a fine of £40 or more and you really don’t need the expense right now. But you’ve got no choice right? Wrong. Many parking fines are actually completely unfair, but private firms are banking on you automatically paying them without doing some investigating first.

First, spot the difference between an official ticket and a private ticket. An official ticket will say ‘penalty charge notice enclosed’, whereas a ticket from a private firm will say ‘parking charge notice’. These are the ones you can fight. Send an appeal either online or via post to the address specified on the ticket, with as much evidence as you can and an explanation of why you believe you shouldn’t have been fined. 56% of people who appeal tickets like this win!

3. Paying your TV license fee

Unknown to many, if you never watch the BBC and only watch programmes using other channels’ catch-up services, it’s possible to legally ditch the TV licence and save yourself £150.50 a year. Have you ever stopped to think how often you actually watch something live?

Maybe you record shows like X Factor so you can watch them later without all the adverts. Well, with streaming services uploading shows as quickly as an hour after they’ve aired, maybe you could ditch the recording and the hefty bill at the same time.

The rule doesn’t apply for iPlayer though- so if you do watch BBC shows you will still need a license.

4. Going direct to insurers instead of comparing

One of the most effective ways to protect your loved ones and their future is with insurance. With policies starting from less than £10 per month for payouts in the high thousands, it’s shocking more Britons haven’t taken out cover yet. What’s even more worrying is that many people go direct to insurers, to save the hassle of comparing multiple providers and policies.

This is an absolute no-no if you want to get the best deal. But, thanks to online services such as Policy Scout, there’s no need to spend hours searching the internet for a deal that is hopefully right for you. Policy Scout does all the hard work for you.

5. Not switching broadband providers

Want to hear something frustrating? Your broadband provider are probably saving their best deals for brand new customers. But, most of us are guilty of sticking with our provider long-term, because changing seems like hassle. However, that hassle might seem worth it once you realise you could save hundreds of pounds!

Your first stop is to try some haggling with your current broadband provider. If that doesn’t work, your next stop is to switch and save some serious £££s. Some of our favourite deals at the moment are from BT, Plusnet, Sky and Onestream.