With approximately 5 million teenager living at home with their parents throughout the UK, one of the things that is on the top of the to-do list is to find effective ways to slash your bills and increase the amount you can save. When it comes to savings, there is not time better than now to start looking for ways to save some extra pounds. There are a number of easy tips that you can follow to boost your savings account. Here are a few of them:

Get a better energy tariff

On an average, approximately 60 percent of the households around the UK are still on the expensive standard variable rate of their energy supplier. That is why switching to a more competitive deal by other energy supplier can help you save up to £250 on an annual basis. Considering that the energy prices are on the rise, it is best recommended to switch to a fixed rate tariff because this will provide to protection against any future increase in the energy prices.

Do not get your home and car insurance auto-renewed

It’s time to face the reality. It is convenient to get your home and car insurance renewed automatically, however, it also means that you have allowed your current insurance provider to roll you over onto a new policy. With this practice, you can observe that you have forked out around £100s additional each year in case you are not on the most competitive plan on the market. It is very easy to do an instant research on the most competitive insurance plans.

Switching to a more competitive car insurance plan can help you save up to £280 on an annual basis. According to the Consumer Intelligence Report, 51 percent of the car insurance user have managed to benefit from this substantial savings during the year 2017.

You can save more than 38 percent each year on your home insurance as well. According to the Consumer Intelligence Report, 51 percent of the home insurance users have saved up to 40 percent on an annual basis.

Switch your broadband service provider

In case your broadband service provider told you that they are going to increase the prices, then you can make the switch within 30 days to a another service provider with competitive rates without any penalty charges. Broadband providers are now obliged to make transparent advertisement so that consumers can have a better price comparison. This makes it more convenient to find the best deal in town.

Get a better mortgage deal

Considering that interest are increasing, if you are on the standard variable rate of your lender, it is worthy enough to switch to a more reasonable mortgage deal. Here you can easily compare the mortgage deals.

Go for economical life insurance

In case you have life insurance plan but you have not look over your policy recently, it can be possible that you are paying a lot more for it. Life insurance policies can start from as low as £5 a month. Therefore, it is worthy enough to look around and see if you can get a more economical life insurance plan.

For more money saving tips check out www.mymoneycomparison.com.