How to save money on bills in the UK

1. Start with the bills that renew automatically

Broadband, mobile, insurance and streaming contracts are the usual culprits because they roll on quietly at a higher out-of-contract price. Loyalty rarely pays: providers tend to keep their best pricing for new customers.

Dig out the last three months of bank statements and mark every recurring payment. Anything you cannot immediately explain is worth a phone call.

• Broadband: check whether your minimum term has ended — out-of-contract prices are often far higher than the new-customer deal on the same line.
• Mobile: if your handset is paid off, a SIM-only plan is normally much cheaper for the same allowance.
• Car and home insurance: never auto-renew without comparing. Renewal quotes are frequently beaten elsewhere.
• Subscriptions: cancel anything you have not used in the last month; you can usually resubscribe later at the same price.

2. Energy: fix the usage, then look at the tariff

Energy pricing in Great Britain is shaped by the Ofgem price cap, which changes periodically, so 'the cheapest tariff' moves around. Two things you control regardless of the cap are how much you use and whether your bill is based on real readings.

Submit meter readings (or check your smart meter is actually sending them). Estimated bills can drift badly in either direction, and a large catch-up bill is a nasty surprise.

• Check whether your supplier offers a cheaper fixed tariff than the capped variable rate before you commit.
• Heating controls beat heroics: a correctly set thermostat and timer usually saves more than turning things off at the wall.
• If you are on a prepayment meter or struggling, ask your supplier about their hardship fund — most large suppliers have one.

3. Council tax and water: the two people forget

Council tax bands in England and Scotland were set on old property valuations, and some homes are in the wrong band. If similar neighbouring properties are in a lower band, a challenge to the Valuation Office Agency (or Scottish Assessors) is free.

Also check discounts and exemptions: single-person discount, full-time students, and severe mental impairment disregards are all commonly missed.

On water, if you have more bedrooms than people, a meter often works out cheaper. Most suppliers let you switch back within a trial period if it does not.

4. Move the savings before you can spend them

A cut that is not moved somewhere is a cut that quietly gets absorbed. Set a standing order for the amount you have freed up, dated the day after payday, into an easy-access savings account.

Compare the rate on your current savings account against the top of the market. A large high-street bank's default instant-access rate is often well below the best available.