Tips to Reduce Your Household Outgoings

The increasing cost of living means more older people are experiencing financial worries. We've put together some helpful tips and information that could help you to save money on your household bills. 

Money Saving Expert also provides up-to-date information and advice on how you can save money on your household spending such as broadband and TV, shopping and insurance. You can also sign-up to receive a free weekly money saving tips e-newsletter.

Reducing your home phone and broadband bills

There are plenty of suppliers to choose from so it’s worth shopping around to get the best deal.

Start by following these simple tips:

1. Call your supplier and ask if they can give you a better price - there could be some add-ons that you’re paying for that could be removed from your bill
   
   
2. Use a price comparison website like Compare the Market, Uswitch, Money Supermarket and Confused.com
   
   
3. Make sure you have a plan that matches your lifestyle - for example if you use a lot of data and are charged extra when you go over, a new deal with more data would be better for you.

Free TV License

If you're over the age of 75 and receive Pension Credit – or live with a partner in receipt of Pension Credit – you can enjoy all of your favourite TV shows for free. You'll need to apply for your free TV Licence before you turn 75 in order to make the process simpler. Once you've received your Over 75 licence, it will cover you and anybody who you live with.

Remember, you need a TV Licence if you wish to watch or record live TV programmes on any channel. You'll also need a licence to download or watch any BBC programmes on their iPlayer system (including live, catch up, or on-demand). This also includes use on tablets, mobile phones, and computers. Apply for your TV Licence.

Click here to go to the UK Government website and find out whether you are eligible for Pension Credit.

Help on the high street

Some shops and supermarkets offer special discounts for older people. It's worth checking when you're at the checkout if the store offers any discounts. Visit our discounts for later life page for more details. 

Getting a cheaper mobile phone deal

When your mobile contract is coming to an end, it’s a great time to find a good deal.

Here are a few tips to keep your bills low:

1. Use online tools to analyse your bills and recommend a contract
   
   
2. If you don’t really use a mobile phone much and don’t need data (to go online), you might be better off with a pay-as-you-go contract to cover the cost of calls and text messages. Speak to your provider
   
   
3. Call your current provider and ask if you can get a better deal tailored to your needs
   
   
4. Use the above price comparison websites to find a good deal.

To work out how much money you have coming in and what you’re spending, MoneyHelper has a budget planner to help you.

Reduced costs of driving and public transport

Visit our information and advice page on reducing transport costs >

Are you paying too much Council Tax?

According to Money Saving Expert, up to 400,000 homes are in the wrong Council Tax band. It might be worth checking to see if you’re paying the correct amount for your area. It doesn’t take long to find out, and you might be surprised with a tax rebate.

Make sure you also check whether you qualify for a discount of up to 50% off your Council Tax bill, for example if you live alone you can get a 25% single-person discount. MoneyHelper has more information about this. You can use this GOV.UK application to apply for a Council Tax discount. 

Pay your bills on time

Late payment fees can be really expensive, so here are some tips to help stay on top of your bills:

• Set up a regular Direct Debit - you can do this via online banking or in the branch. This means your bills will automatically come out on the day you set so you don’t have to worry about paying them
  
  
• Try to plan ahead for the month’s expenditure using a budget planner.

Higher living costs

It can be a worry to make sure rising bills are paid, in full and on time. If you feel overwhelmed by your bills and finances, we have some debt information available.

There also might be benefits and support available to help you manage your household bills. MoneyHelper has some information on what benefits you can claim and other ways to increase your income.

If you want any advice with your energy bills, visit our managing your household finances page >

Organisations providing extra support

• Turn2Us - To find an adviser in your area to discuss your situation with, you can Find a Turn2Us Adviser
  
  
• Citizens Advice have some great advice on grants and benefits to help pay bills or you can contact them directly:
  Adviceline (England) available Monday - Friday 10am-4pm: 0800 144 8848 
  Advicelink (Wales) available Monday - Friday 9am-5pm: 0800 702 2020 
  
  
• Relay UK - if you can't hear or speak on the phone, you can type what you want to say: 18001 then 0800 144 8884
  
  
• For queries about what benefits you can receieve, visit Entitled To
  
  
• MoneyHelper have lots of advice available - this Midlife MOT might be helpful to assess your current financial situation and plan for the future. Your personalised report will tell you what to prioritise and link to guidance on how to improve your financial wellbeing from midlife through to retirement.

Page last updated: September 2023.