First money-saving tip in FAIRshare Credit Union’s ten-part mini-series.Posted on Mar 30, 2020
Use price comparison websites
Price comparison websites can often be a great place to find the best deals on things like your contents or car insurance, your mortgage, or your gas and electricity spend. If you’re looking to save money on your regular monthly bills, then searching a price comparison site would be an excellent place to start.
This is the first money-saving tip in FAIRshare Credit Union’s ten-part mini-series.
Shopping around with price comparison websites
The first thing we should point out is that there are many price comparison websites that suit the varying needs of price-savvy shoppers and savers. During your price comparison research, it’s important to shop around and visit more than one site, so you can compare the very best deals in the market.
It’s also worth noting that not all price comparison websites will be able to show you every single deal on the market. However, they’ll be able to give you a head start if you’re planning on negotiating with your current provider.
Where to start
Below are just a few of the most-used price comparison websites in the UK. Almost all of them claim to compare the best deals on things like home and car insurance, travel, energy bills, mobile phones, and broadband — the things that most of us pay for on a monthly basis.
There are also specialist price comparison sites that offer specific comparisons on things like energy bills or broadband.
- Ofgem, the government’s official body for energy companies, offers a list of Ofgem accredited price comparison websites for energy customers
- Broadband UK is an Ofcom accredited price comparison site to find the best broadband deal for your postcode area, and
- Idealo is a price comparison tool for other top consumer products from major brands
How to use a price comparison website
When you first visit a price comparison website, it’s easy to get overwhelmed with the huge amount of information on offer. The best thing to do is remain focused. Navigate to the product or service that you’re hoping to compare and follow the onscreen prompts.
What to do after finding a great deal on a price comparison website
Once you’ve found a great product or service that’s either cheaper or with more coverage than your existing deal, it’s time to initiate your savings. Most price comparison websites will ask you to click/tap a button to either confirm your deal or be put directly in touch with your new provider.
However, if you prefer, at this stage you could try to negotiate your current deal with your provider, instead of taking out a new deal with a new provider. Most service or utility providers will reduce your bills if you can prove you’ve found a better like-for-like deal elsewhere. After all, it’s in their best interest to retain your business.
What to do with your savings
Using a price comparison tool is an excellent way to save money on your monthly outgoings. Once you know the £-figure you’ve saved every month, you can then add this amount to your FAIRshare savings account. If you work through the process of comparing every product or service that you currently pay for and saving money on each, then your savings will soon skyrocket!