Direct debits and how to save on them

I have realised something. I don't have any payments due this month (April 2022) because I updated my direct debits for my Phone/Broadband accounts. This is a great way to save on payments.

How did I do it? I adjusted my direct debits to come out shortly after I get paid at the end of the month. By doing this, I can use that money for other things until I get paid again. It feels like I'm skipping a payment, but I'm paying in advance rather than leaving a gap between the next payment.

Another way to save is by paying a lump sum upfront to cover one or two months of direct debits. For example, if I set up a £70 per month direct debit for Council Tax and then pay £500 upfront, my direct debits automatically skip several months.

I hope this helps. If you have questions or need further assistance, you can reach me at info@Financefixtory.com.

Alternatively, you can leave your details in the contact form, and we will get back to you.