Instant Pay Rise
Yes you heard right, many homes throughout the UK could give their finances an instant overhaul i.e. pay rise. Why do we call this a pay rise? Simply because what would or could you do with an extra £100 per month? Perhaps £200+ per month? That’s equivalent to earning an extra £2400 per year, without having to go begging to your employer.
Instant Pay Rise & Makeover Guide
Does it really work?
Simply, yes of course it works. You just have to be motivated enough to want to overhaul your finances. If you can’t be bothered, stop reading here and save yourself a lot of time.
BUT, before you go, ask yourself one question… How many hours overtime have you done this year? Did you find yourself needing a few extra quid this month? If so don’t be lazy. Company’s love lazy people as you earn them big bucks. The people company’s and banks hate is those who are happy to shop around and get amazing deals for less. To them YOU are the enemy, because once you save money, you’re likely to help your friends and relatives out.
There are two methods available:
The first deals with ‘keeping things the same’ but reducing your overall costs – we call this Tier 1 Savings which by their nature are modest and aren’t obvious things you’d miss. For example, do you really care who supplies your gas and electricity.?
The second involved cutting back on ALL unnecessary luxuries (for the time being at least). This is what we call Tier 2 Savings which are classified as extreme, but necessary (again at least for the moment).
Forensic Investigation on your Bank Statement
It’s time to do that one thing people hate most of all – Looking at your bank statement and evaluating it thoroughly.
It sucks, especially when you are in trouble and having money worries, but we promise you, you’ll feel a lot more in control of your situation after you’ve taken this first step.
Print off the last 3-12 months of your bank statements. You can just look online, but having the ability to make side notes really helps.
Begin putting numbers or letters next to items on your statement.
- 1 = Crucially important for your lifestyle – i.e. paying the mortgage or rent
- 2 = Very important, such as food, insurance for car, petrol, utilities etc
- 3 = Important but your won’t die if you didn’t have it, such as Gym memberships, subscriptions to magazines etc
Tier 1 Savings - Modest
We call tier 1 savings ‘modest savings’. What we mean by ‘modest’ is that you won’t really be bothered by the areas where you have saved money. E.g. Do you really care who provides your house with Gas and Electricity?
They may modest, but by making changes you can save you thousands of pounds a year if done correctly.
The following savings list comes in two categories:
- Tier 1 Household Savings
- Tier 1 Personal Savings
Household Savings - Tier 1
Approximate Savings per year: £200 – £600+
Paying bills for gas and electricity should be the first money saving option made. Every home could save on utilities, and the average saving is hundreds or sometimes thousands of pounds per year. One reader emailed in recently to say they saved £89 per month by simply switching after being a loyal customer to one provider for 13 years. Loyalty doesn’t count when businesses want your money! Don’t let them win, it’d YOUR money after all.
We recommend trying out the main comparison sites first. It will take about half to 1hr to complete but, it’s well worth it.
Tip tip: Hopefully you printed out your bank statements as instructed earlier?… If so now’s the time to look at how much you are currently paying, and then see how much you’ve saved. If you saved over £100 pm please contact us to tell us about your success story, as we love knowing we’ve helped.
How to do it?
Now you know how much you are paying per month for both electricity and gas, now is the time to see if you can save money. The fastest way to check across hundreds of providers is to use comparison websites. Here are the main players for the UK market.
Money Supermarket is one of the best known comparison websites for the UK. They are impartial, 98% of customers say they would use them again, have over 13 million customers and have about 50 ways to help you save money, including
Similar to many other comparison websites, Confused.com is one of the first to the market with this ingenious idea how to save people money by comparing hundreds of deals, across a broad range of services.
Unlike other comparison websites they also offer freebies such as money off fuel or free pizza’s once you take out policies. Just make sure you compare their prices against the other comparison websites to make sure you’re paying the best price.