Set reminders so you know when contracts are up

Do you know when your broadband contract expires? Or if other energy providers are offering better deals? If not, you could be paying more than you need to.

According to uSwitch, more than one in five homeowners (22%) have forgotten to renew, cancel or switch a contract before it expires or renews automatically.

And that means many are paying over the odds for basic services.

For example, households believe they’re paying an extra £91.82 a year because they’ve let their broadband deal expire and not switched to a better contract.

Similarly, not switching energy tariffs each year is costing households more than £103 a year.

So how can you make sure you’re not paying over the odds on services you depend on each day?

Set reminders

Spend a couple of minutes checking your bills to see when introductory deals expire or they’ll auto-renew.

You can then either set reminders on your phone, your calendar or diary, so you know when to look at switching or haggle for a better deal.

"Many of us like to think we'll get around to bills admin tomorrow, but small delays can quickly add up,” said Sabrina Hoque of uSwitch.

“Taking a few minutes to review bills and contracts can make a real difference, especially ahead of winter."

Energy prices set to rise

The energy price cap went up by 4% this week.

And Cornwall Insight believes it could go up by a further 16% in January.

So taking steps to lower your energy bills now could make a huge difference in the long run, especially if you’re struggling to keep up with other essential expenses as well.

“Procrastination on bills could have real consequences,” Ms Hoque said.

"It’s really urgent that households who haven’t switched recently review what tariff they’re on and make sure they get off the standard variable rates, which are set to rise again in January.”

Ms Hoque added that “taking control of our energy use around the home” could also help households keep bills down.

What’s stopping people getting on top of their bills?

Nearly four in ten (37%) households say they’re sure they know when their contracts are up for renewal.

But more than one in five (21%) forget to do anything about it, especially when it comes to broadband and energy contracts.

Meanwhile, 15% admitted they don’t have the time to keep on top of household bills, and 9% said they lack motivation.

In addition, 38% said they find managing bills and paperwork too stressful.

What else can I do to get better deals?

When you’re dealing with so many contracts just to keep your household going, it’s worth having a plan in place to make sure they’re working for you.

Compare before you commit

Don't automatically accept the first renewal offer your provider sends you.

Use comparison websites to see what's out there, as well as what other deals your current provider is offering.

And when you’re comparing, don’t just look at the monthly price.

Factors like the length of your contract and whether you’ll have to pay any upfront costs are also important to consider.

Only pay for what you use

Think about whether you’re getting value for money from your contracts.

You might be paying for a TV package full of sports or movie channels you never watch.

Or unlimited data on your phone, when you never come close to exceeding the limit on cheaper packages.

If you don’t use it or need it, you don’t need to be paying for it.

Sometimes, simply cutting back on services can be just as effective as switching to a different provider.

Every little saving adds up

Saving a tenner on one bill might not be a life-changing amount.

But it adds up if you’re switching different services throughout the year and getting the best deals.

That’s money that could help the weekly shop feel a bit easier, or maybe even go into savings or an emergency fund.