Get smart about saving
Featured Products Promotional FeaturesPosted by: Dental Design 12th April 2021
You may have heard the proverb “Look after the pennies and the pounds will look after themselves” but is this something that you have applied to both your business and your personal life?
It’s easy to become complacent about your monthly outgoings, but by exploring different options and thinking smart about saving, you’ll be surprised at how much you could save and what this money could mean for you.
Seeking alternatives
Perhaps one of the biggest mistakes that people commonly make is not shopping around when it comes to their energy bills. According to one source, an estimated 43% of British people don’t explore the available alternatives when it comes to their energy suppliers, meaning that millions are missing out on some significant savings in both the short- and long-term.[i]
The reasoning behind this figure is simple – a lot of people take a “if it isn’t broken, don’t fix it approach”. However, that means that they miss out on some interesting offers that can supply them with the exact same amount of energy but with a much smaller price tag. For example, it’s not uncommon for energy suppliers to create special offers to draw in new customers at certain times of the year. This is a very easy way to make a good saving, especially as you can periodically find these offers and switch repeatedly – saving considerable money in the process.
This doesn’t just apply to gas, electric and water either – switching bank accounts can also bring the same benefits, especially if you’re savvy and keep an eye on what’s out there.
Likewise, insurance policies and similar protective measures are also worth shopping around for. Insurance companies are just as likely to give discounts to new customers or for certain businesses, so keeping on top of these and shifting policies where necessary can fast become a financially rewarding move.
Are you getting the best deal?
For many of us, once we’ve signed a contract for Sky TV or our mobile phone, that’s the end of the story. But are you getting the best deal for what you’re actually receiving?
Say your current mobile phone contract includes unlimited data. If you’re only using a small amount of data, this is an unnecessary expenditure, and you should go to your provider and make a switch that better suits your habits. The same is true for other subscriptions – you may have Sky TV in your practice so that the news can be on in the waiting room, but are you paying for more channels than you’re using?
Look into the way you use the services you pay for and make amends – it’s very easy to make some considerable savings this way, especially if you are realistic about your habits and make the necessary changes. You need to be honest with yourself – if you only watch one movie every few months on a movie channel you’re paying for, is it really worth it?
Even smaller savings count
A trip to the coffee shop on the way to practice may feel like a well-deserved part of your day – but are there cheaper alternatives? According to one source, the average British person spends as much as £303 on coffee per year – a significant amount that can easily be reduced by thinking outside the box.[ii]
For example, have you tried a local shop with lower prices? This way you don’t have to give up the luxury of your coffee but you can save money while supporting a local business. You can also choose store-bought coffee and get it made in practice and save takeaway coffee for tough days. These small measures are definitely a case of saving pennies to begin with, but all savings are worth taking, especially in uncertain times.
Advice and support
Saving can be simple in many ways, but that doesn’t mean that seeking advice isn’t highly beneficial, especially if you’re looking to find further savings that you hadn’t thought about.
For dentists who want to make significant savings, the award-winning team at money4dentists can help. As the team only work with dentists, they have years of experience in finding the best insurance policies, pensions, financial opportunities and more, as well as a comprehensive understanding of the industry. This means the advice you receive will always be tailored to reflect your business interests as well as your personal financial and savings goals.
Think smart, make savings
We’ve all been through a difficult time lately, and this means that our savings are becoming more important than ever. By streamlining your investments, analysing your contracts and habits closely and seeking expert advice, you’d be surprised how many pennies you can quickly start saving, leaving you with more pounds to look after themselves.
For more information please call 0845 345 5060 or 0754DENTIST.
Email info@money4dentists.com or visit www.money4dentists.com
Author: Richard T Lishman
Managing Director of the 4dentists Group of companies
[i] Ofgem. 21 Million Brits Missing a Trick On Shopping For Better Energy Bills. Link: https://www.ofgem.gov.uk/press-releases/21-million-brits-missing-trick-shopping-better-energy-bills [Last accessed January 21].
[ii] The Independent. Coffee Costs The Average Brit £303 a Year, A Survey Claims. Link: https://www.independent.co.uk/life-style/coffee-british-people-drink-spend-year-cafe-shop-latte-americano-survey-a8608711.html [Last accessed January 21].
