Check Your Bills, Households Advised
Renters who found their homes with the help of the letting agents Norwich has, and indeed other households around the UK, have been advised to make sure they check their monthly bills thoroughly to ensure they know how much they’re spending.
Head of banking at Santander Matt Hall explained that the cost of living has risen in recent years because of hikes in household bills, so people need to make sure they’re keeping an eye on what arrives in the post and that they call their suppliers immediately if something is unclear.
His comments come as the lender revealed that 26 per cent of people don’t read their bills properly and one million in fact never even open them. Households in the UK have actually underestimated their main bills – electricity, water, gas and council tax – by an average of £770 in the last 12 months, it was found.
“Bill payers should regularly review their supplier to make sure they’re getting a good deal but should also consider the most cost-effective way of making payments. Many suppliers offer a discount for paying by direct debit for instance,” Mr Hall remarked.
According to the Joseph Rowntree Foundation, more people will be at risk of poverty as a result of increases in housing costs, with today’s primary school children likely having to pay private rents that are 90 per cent higher than renting costs seen at the beginning of the recession. Rents are expected to rise twice as fast as the average income, so becoming savvier with money and paying more attention to the bills coming in the post seems like a good habit to get into.