Autumn money check-up: Ten things to review before winter

As the evenings become cooler and Christmas items begin to appear in the shops, autumn is a good time to take a fresh look at your household spending. Winter can bring additional costs, from higher energy use and fuel to seasonal shopping and household expenses. So, taking a little time now to check what you’re currently paying for could help you avoid unnecessary costs and unpleasant surprises later in the year.

An autumn money check-up doesn't have to mean making drastic changes. Simply setting aside some time time to understand what you’re currently spending, and what you’ll need to spend in the months ahead, can help you avoid any nasty surprises.

Here are ten things worth reviewing this autumn:

1. Check your household budget

When did you last look properly at your monthly income and outgoings?

It can be easy to lose track of how much is leaving your account, particularly when payments are made automatically.

Go through your bank statements and make a note of your regular bills, subscriptions and other spending.

Did you know we have a free budget planner on our website, which can help you organise your finances and see where your money is going each month?

2. Review your subscriptions

As we recently highlighted, subscriptions can be easy to forget about – particularly when payments are taken automatically.

Check your bank and card statements for streaming services, apps, memberships and other recurring payments. If you haven't used something for months, ask yourself whether you still need it.

Also check when your subscriptions renew, how much you will have to pay after any introductory offer ends, and how you can cancel.

If you don’t do this, you risk falling into ‘subscription traps’, where you could find yourself paying for services you no longer want or need.

3. Look at your energy costs

As the weather gets colder, your household energy use is likely to increase.

Autumn is a good time to look at your recent bills and understand how much energy you’re using. Check that your direct debit still reflects your circumstances and consider whether there are simple changes you could make to reduce unnecessary energy use. And if you know your winter energy bills are always higher, start saving some money now to cover the cost of them.

If you haven't already done so, now is also the time you need to make sure that your heating system is ready for the colder months.

You can see our recent advice on preparing your home for autumn and winter on our website.

4. If you use heating oil, shop around

For households that use heating oil, filling the tank can be a significant expense.

Don't leave it until you’re running on empty before checking prices. Compare the prices available from local suppliers and consider when you will next need to order.

Prices can vary, and shopping around can make a difference. Prices.je includes weekly comparisons of the Island’s four heating oil providers’ prices, alongside fuel and grocery prices.

5. Check your insurance

If your home, contents or motor insurance is due for renewal, don't simply accept the renewal price without checking what else is available.

Compare the cost of cover, but don't look at the price alone. You also need to check the level of cover, excesses and exclusions to make sure you’re comparing like with like.

It’s also worth checking that your policy still reflects your circumstances and that you have adequate cover for the things you actually own.

6. Review your mobile and broadband package

Are you still paying for the same mobile or broadband package that you chose a year or two ago?

Your needs may have changed, so check what you’re actually using each month. You may find you’re paying for more data, channels or other services than you need – or you may find that your current package is no longer suitable.

Find out when your current contract is up, and, before renewing, check the full cost and whether the price will change once an introductory period ends.

7. Check your regular grocery spending

We all need to eat. But unfortunately, food is a household cost that can easily creep up without you noticing.

Rather than automatically buying the same products from the same shop each week, take a look at what you’re spending on your regular essentials and compare prices.

Our Prices.je website compares the prices of a wide range of everyday groceries at the six local supermarkets. It also includes regular fuel and heating oil comparisons.

A few minutes checking prices before you shop could help your money go further. As we always say, it pays to shop around.

8. Deal with small home problems before they become big ones

Autumn is a useful time to look around your home for maintenance problems that could become more expensive if left until winter.

If you need to employ a trader, don't feel pressured into accepting the first price you receive. For larger jobs, consider getting more than one quotation and make sure you understand exactly what is included.

Be particularly wary of a very low price that later turns out to exclude essential work or additional costs.

9. Plan ahead for seasonal spending

The run-up to winter can bring a succession of additional expenses, from clothing and household purchases to celebrations and other seasonal costs. And, for many, Christmas brings significant extra spending.

Make a list of the expenses you know are coming and set yourself a realistic budget. Planning ahead gives you more opportunity to compare prices rather than making expensive last-minute purchases.

Remember that a discount isn't necessarily a saving if you didn't need the item in the first place.

And if you have a lot of presents and other items to buy for Christmas, start shopping now to spread the cost – particularly as some items will creep up in price the closer it gets to the big day.

10. Be alert to scams

As we head towards a period when many people will be spending more, remember that scammers will be looking for opportunities too.

Be cautious of unexpected texts, emails, calls or messages offering refunds, discounts, repairs or other services.

Don't click on links or provide personal or financial information simply because a message appears to come from a familiar organisation.

Take a moment to check that an offer or message is genuine, particularly if you’re being pressured to act quickly or hand over personal or financial information.