Wednesday, 1 May 2013

20 Things To Review Annually

1. TV License – Have you paid for your TV license? This is important as you can be fined a large amount of money if you are tracked down as a non-payer!

2. Magazine Subscription(s) – Do you have the funds to renew your subscription(s)? Sometimes it is cheaper to buy 2 years rather than 1. Have a look around on different websites, some offer cheaper subscriptions (tip - travel size ones are often cheaper when you do not get the free gifts included with the magazine.

3. Breakdown Cover – Review this annually, check if it is worth including breakdown cover on to your insurance policy rather than separately to make any savings.

4. Driving License – It is worth checking that your driving license is not going to expire, as these need replacing when they have expired. Driving without a valid driving licence can result in a fine of up to £1,000, and between three and six penalty points on your licence with the potential of your car also being seized and crushed so it is a must do and it is free to renew your license!

5. European Health Insurance Card – One of these cards is a great item to have and the expiry date needs to be noted so you can make sure you get the benefits, if the card has expired you will be unable to use it.

6. Passport – vital to check that your passport is in date as you will be unable to travel if you do not have a valid passport.

7. Car Insurance – use comparison websites to get great deals on car insurance. Research is key when looking around for the right company to get a cheaper quote.

8. Home Insurance – look at policies that suit your needs. Make sure you are honest with your home insurance company so that they can give you the correct cover for the right price.

9. Phone Insurance – this could actually not be needed. Check if your home insurance policy covers your mobile phone or look at getting gadget insurance if you have lots of gadgets as it can work out very worthwhile.

10. Credit Card Rate – if you have any credit cards, keep track of any introductory rates of 0% on balance transfers or 0% on purchases for example as if the rates are running out you could be stung with penalty fees or high interest charges to pay. Review better credit cards on offer to you if you are in a position to switch.

11. Bank Account – see what bank accounts are available other than the one that you currently use. Some bank accounts these days have offers that you do not want to miss e.g. banks that pay for you to switch account, or bank accounts that double as a savings account and pay you interest for keeping money paid into them.

12. Savings Interest Rate – savings rates can rise (and also plummet at the best of times). It can be worth switching to other savings accounts with new customer offers or looking at how much you can invest and for how long, can be a way to get a better savings account tailored to your circumstances. Look at an ISA if you are financially stable and can invest a fair amount.

13. Food items in your cupboard – check annually that you do not have anything lurking in your cupboards that could be out of date or use up anything going out of date soon. It is amazing how many of us will have items we had forgotten about.

14. Vehicle tires – check that your tires have not worn down to below the legal limit. Replace tires when they are getting to near the legal limit, for your safety and to comply with legal requirements.

15. Clothing clearance – choose a clothing company to get rid of unwanted clothing. Some will pay you for your unwanted goods, some companies give your clothes to charity and some give your clothes to charity and pay you! It is worth having a little look for a bit of extra income. See http://www.clothesforcash.com

16. Phone contract – check out the best tariffs and deals, look on the internet, ask your phone provider, compare deals and if you do not ask you do not get so see what suits you and try to obtain a good deal.

17. TV, broadband & landline – see if any new offers have come out, it can be cheaper to bundle these products together or you may wish to downgrade a few of your services to save cash, either way review it.

18. Medication expiry dates – check to see if any medicine that you have is still in date as it can be dangerous to take medication that is no longer in date.

19. Travel Insurance – look at travel insurance policies, if you are travelling a few times a year, you can be better off getting an annual policy rather than a single policy.

20. Car Tax – make sure your car is taxed or you could be in trouble with the police. It is simple to check online if your car is taxed if you have the vehicle registration number. Taxing the vehicle for a whole year is cheaper than doing so monthly.