Trying to save money can be difficult. However, there are many ways which perhaps you wouldn’t normally consider which, when combined, can result in sizeable savings to your bank balance. One of these ways is to reassess your phone contract which some people could be spending a fortune on without even realising. Missing payments on your contractual phone bill could have a negative effect on your credit score, so if one month you are short when paying the bill it may be worth considering an instant loan.
Switch to a sim-only deal
Once your contract expires, your provider may simply move you to a monthly-rolling contract on the same tariff and therefore same monthly cost. This means that you’ll be paying for a phone which you have already paid off!
If this is the case, then look at switching to a sim-only deal as soon as you can. For the same minutes, texts and data, you could be paying a lot less for your phone contract and reduce your monthly outgoings.
Don’t feel you have to stick with your current provider if you can find a cheaper deal elsewhere. There are various price comparison sites out there that will find you the best deal for your requirements.
Many people tend to stick to the same network because they’re reluctant to go through the hassle of switching but most do not know that it’s also now easier than ever to keep your existing number when switching networks so that’s one less thing to worry about.
Adjust your tariff
Paying for loads of data which you barely use? Consider contacting your provider and lowering your allocated data to bring the cost down if possible. For example, if you’re given 20GB of data, but have never gone over 10GB, that’s a lot of data you’re paying for needlessly. By reducing your data allowance to something closer to your usage, you could significantly reduce your monthly bill and not even notice the decreased data allowance.
Pay more upfront for your new phone
If you’re in the market for a new phone once your current contract expires, consider paying more upfront for your new device if you have the cash available. As we know, a brand new phone can venture into the thousands and the monthly amounts close to the hundreds. However, by paying a larger chunk upfront for the phone whilst you are in a comfortable financial position to do so, this can reduce the monthly strain on your finances down the line.
Look into family plans
Some networks provide family plans to cover all the tariffs in your household. So if you, and your kids for example, all have plans with various networks, why not look into a family plan to save money on the overall cost. A family plan combines all of the plans in the house to a single plan – usually at a much cheaper rate.
Saving money on your phone contract could be the first step in making substantial savings across all of your expenses. If however, you find yourself struggling one month to make ends meet, then a credit option such as a payday loan could be an option for you.