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Reduce your Outgoings to Reduce your Debt

reduce outgoings, reduce bills, cheaper bills, pay debt, debt free, reduce debt, save money, money saving

Whether you are trying to reduce your debt or want to increase your savings, one of the best things you can do for your finances is to regularly review your outgoings. I like to check mine at least once per year.

Reduce Your Outgoings to Reduce Your Debt

This is an important tasks to do, no matter your financial state.  I check my payments regularly - usually once a year.  I don't do them all in one go, I do each one as it comes towards its renewal date.  The next one on the list for me is my mortgage.  We have been on a fixed rate which is due to end and we are looking around for the best deal to fix again.


Starting with the essentials like the gas or electricity,I check the package I am on and then see if I can find a better deal. Then I like to use comparison sites. Please note that some of the links in this post are affiliate links.:

Next comes the insurances – both home and car. In fact, by shopping around we were able to reduce our insurance premium by £200 this year.

We also have breakdown insurance and I NEVER just pay the renewal price. Each year I give them a call and ask if they would reconsider the price and each year they have agreed. I have had a range of savings from £50 to £100 each time. So it is definitely worth the 5 minute phone call.

Not So Essentials

Then it is the turn of the not so essentials, things like TV packages, internet, mobile phones etc.

We originally had a Freeview Box, the phone was with The Post Office and we had standard broadband with Sky which was painfully slow. It once took 2 days for a game to download on the xBox and the boys still remind me of this now :). All this was costing us around £30 per month.

We swapped to Virgin Media and were able to get the basic phone, TV and Fibre Broadband package for an introductory offer price of £33 per month.


If you are sure that the package you are paying for is worth the cost and you can afford to keep it, then it is still worth contacting your provider at the time of renewal each year to see if you can haggle down the price. Some people have had great success with this.

Mobile Phone Upgrade

I managed to save over £100 upgrading my mobile phone by purchasing it outright rather than via a contract, including changing to Sim only.

Out of Date Standing Orders or Direct Debits

Whilst going through your payments you may even notice some that you no longer need. I found a small insurance payment that was going out monthly for a TV that I no longer owned!

Look After the Pennies ….

Even the smallest reductions can add up and give you money that you can then choose to divert to savings or debt repayment.

Debt Busting Ebook

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reduce outgoings, reduce bills, cheaper bills, pay debt, debt free, reduce debt, save money, money saving