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N&P: Concentrate on utilities bills when budgeting

Families potentially endangering their loan repayments due to current economic conditions have been given budgeting tips by the Norwich and Peterborough Building Society (N&P).

After canvassing its customers for top tips, the mortgage lender advised that consumers should prioritise utility bills this year - which have already been subjected to double digit percentage price rises in recent months due to the high wholesale costs of gas and electricity.

Utilities bills can also be cut by unplugging all electrical items when they are turned off, rather than leaving them on standby, it was suggested.

Pre-planning a weekly menu, maximising Isa allowances and cancelling direct debits for products and services that are no longer useful also came highly recommended by the building society's members.

Group product manager at N&P Gary Lacey said: "It is refreshing to see that it is often the simple tips that can prove most popular such as changing your shopping habits, or saving on the electricity bills.

"By adhering to just a few of the tips our customers suggested, families can save little and often, which, in the long run, could add up to a decent amount of money."

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