Last week myself and Neil had the pleasure of meeting some of the cream of the UK’s online writers from the world of personal finance. We got together (things are always better together) in London’s Old Crown to discuss money saving, household bills and of course our recently launched service Incahoot PLUS.

Discussion was lively, with the attendees making some great points about the various ways that people can save money online, and how Incahoot PLUS was a great example of money saving done well. For example, some cashback sites can make you wait an age before you actually receive the money you’ve earned; Incahoot PLUS doesn’t – your account is credited immediately.

The fact is, as all of our writers pointed out, that everyone is concerned about their financial situation in this climate. The squeezed middle is more squeezed than ever; sites like Moneywise and TotallyMoney are regularly asked by their readers for tips on how they save money. As a result of our meeting, we’re looking forward to further helping their readers to cut their monthly bills through some of our exclusively negotiated deals.

So, thanks again to our attendees @rebecca_rutt, @ReenaSewraz, @HarrietPierce we got some great ideas and great insight, and we hope you found it as interesting as we did!

Honest John

Incahoot has brokered a new deal with award-winning broadband provider Primus, the cheapest home phone and broadband package in the UK, coming in at an unbelievable £1.20 a month! We’re also pleased to announce our first ever stand-alone home phone offer, with prices almost 35% cheaper than other deals in the market. We know that the cost of living is rising all the time and it’s up to us to find ways of whittling down those monthly bills. As a result, we’re delighted to extend our offering to include broadband and home phone products that don’t break the bank.

The new Primus products will also feature as part of our concierge service. Have you tried it yet? It’s absolutely free and you could save a bundle. We take all of your household bills and calculate just how much money you could save by switching to cheaper deals. With our new rock bottom broadband offering the savings totals will be bigger than ever!

As always we want to hear from you, have you used the concierge service yet? How much did you save? Leave us a message on the Facebook or Twitter and let us know!

Honest John

Supermarkets

Sainsburys (5%), M&S (5%) & Asda (5%) Morrisons (5%) – Ella, Simon, Roy, John

By far the most popular deals among the team and why not? 5% off of your weekly shop can not only make a difference in the short term but also when you examine the savings across the year. Use it every week and you’re looking at hundreds of pounds off your shopping bill.

Food and Drink

Costa (10%), Pizza Express (10%) – John, Simon

Caffeine fiends Simon and myself have wasted no time in taking advantage of the 10% Costa discount. These discounts are brilliant for busy professionals who find that they’re spending a lot on food and drink when they’re out and about.

Family and the Home

Toys R Us (7.5%), B&Q (9%), Boots (10%) – Neil, Roy

With the arrival of Neil’s lovely new bundle of joy he’ll no doubt quickly become a regular in Toys R Us, B&Q and Boots. Savings like these make a real difference, especially when you’re starting a new family. Neil even managed to recoup the cost of signing up in his first purchase at B&Q!

Now that you’ve had a taste of some of the deals the team are taking advantage of, let’s get down to the nitty gritty, who’s winning! The current leader board looks like this: -

1. Simon
2. Neil
3. Roy
4. John
5. Ella

There really isn’t much in it so far, stay tuned to the blog for updates as the competition progresses. We will be presenting the final savings totals when we announce the winner at the end of the challenge but if you want to start benefitting from some of these great discounts you can sign up here. Don’t forget to let us know how much you are saving on our Facebook and Twitter!

Honest John

It was refreshing to hear Nick Clegg’s announcement that Britain’s energy providers will need to operate with greater transparency. Its practical application will means that, as of Autumn, we will all be receiving an annual breakdown from our provider that outlines our tariff against their current best deal. On the surface, this is a really good idea.

However, I am not convinced that many customers will take note and actually trust the provider’s advice and switch. What it will do is provide the individual with additional insight into prices. How this information is then processed is key, because the obligation is still with the consumer. The energy company only has to state its best deal rather than automatically applying the tariff to your account.  Some knowledge of the current marketplace will be required in deciding whether it is the right time to switch or not.

Given that a large majority of energy customers currently pay their bills by direct debit, or receive them online with little attention given to the detail,  it immediately shortens the impact of the initiative. It is easy for the energy companies to send an annual letter to its customers, but difficult to know what to do with the information.

Nick Clegg’s announcement has accidently raised the profile of the already high profile big six, and I worry that he has disregarded the smaller energy providers, who often have very competitive prices and packages. It is also worth remembering that the energy market fluctuates all the time, and it is really worth looking to switch every year if possible.

Would you know how to diagnose your energy tariffs? If this seems overwhelming then please feel free to use our concierge service, and let us do the work for you.

Yours, Honest John

Easter weekend is upon us once more and while I’m sure you’re all looking forward to receiving some tasty treats, you’re probably less enthusiastic about the extra cost it will bring. The price of Easter Eggs will be higher than ever this year and while there is extra pressure to spend this weekend, we urge caution, especially when you consider that one in five people are still paying off their Christmas!

As you might expect here at Incahoot we have some great ways for you to save over the holiday period. First off, to save some pennies on your Easter purchases why not sign up for Incahoot PLUS? Incahoot PLUS offers hundreds of great discounts at high-street shops, normally only available on employee benefits schemes. For example, if you bought your Easter eggs using  Incahoot PLUS you could save 5% at participating supermarkets. And if you’re looking for a cheap family outing, Ten Pin Bowling, Thorpe Park and Alton Towers are all affiliated with 8% discount vouchers.

Our second piece of advice for saving money over Easter is with your utility bills. It was reported this week that four million households are in debt to their suppliers. The total fuel debt has reached £478 million, with the average individual debt coming in at £131 per person. This is huge and unnecessary. If you haven’t yet already, I urge as many of you as possible to take advantage of Incahoot’s concierge service. Simply send us your bills and we will compare your tariff against the current market prices, as well as our own exclusive deals, before reporting back your potential savings. You could save over £1000 a year!

That’s it for this week, enjoy your Easter holiday and don’t eat too much chocolate!

Honest John

Hello all,

Let’s face it, despite the beautiful sunshine, the news of late seems to have been quite bleak: the middle are going to be squeezed even harder, the rich are getting richer, and young people are finding it next to impossible to find work or get on the property ladder. At least we’ll all benefit from the increase in the personal tax allowance, right? That is unless you enjoy the occasional pasty!

There’s no escaping it, saving money is no longer a luxury – it’s a necessity, and here at Incahoot we believe that we’re all in it together, collectively. With this in mind, last week we asked you to Tweet us your best money saving tips; here are a few of my favourites.

• Bexdowney (@beckydowney) Wait 4 days to buy something that’s not a necessity. That’s time 2 compare prices, find an alternative or decide you don’t need it.

Shopping is a largely instinctive process, and this is reflected in product placement. It is more a science that an aesthetic. As a general rule, the products with the greatest mark- up are maintained slightly above eye level, complementing another product deemed as a necessity. So Bexdowney, you are absolutely right. Take a moment, and weigh up what you need versus what you want.

• Hanna Whitling (@hannahlw85) when buying things, put away the amount between the cost of the item and the next whole £ each time. It starts to add up.

This is a great tip. More often than not I pay my sofa to take the coins off my hands but this method is much smarter! Many banks already offer to do this automatically on any payments made with a card. Remember, ‘look after the pennies and the pounds will take care of themselves’.

• Shelley Bruce (@BabesShelley) I stopped buying non essential items at the shop, eg sweets & crisps. Kids are healthier and I’m better money.

This is the bread and butter of saving. Limit sweets to once a week, and encourage healthy snacking. Your children will have more energy, sleep better, feel better, and so will your bank account.

• Sheila Reeves (@compcake) Always check cashback sites before buying anything – but make sure you are getting the best deal first & foremost

Sheila, you are absolutely right. Incahoot PLUS will help you in your endeavour here.

• Feejee (@feejee3) My best money saving tip is to make your own lunch to take to work. I save about £4 a day, £20 a week since I started doing this.

Lunches are such an easy way to whittle away large amounts of money without realising. Feejee has hit the nail on the head here. £20 a week equates to £1040 saved a year, serious savings.

• Frankie Light (@lovewinning) My money saving tip is to frequent car boot sales. I picked up my ‘dream jeans’ for a quid on Sunday!

Finding a bargain that you know is a bargain is extremely satisfying. Car boot sales are a great place to save and make money, but also provide a cheap day out for the family.

• Anthea Holloway (@antheajholloway) write everything down and never go to the supermarket when you are hungry

Keeping a track of your finances is crucial. Writing it down has a nice, easy structure that will benefit you over the month.

• Patricia Avery (@avery64) If you do a weekly shop, make it once every eight days to earn yourself a free week

This is a nice thought. Reducing your household waste is an important step in cost effective living. Take that extra day, and make sure you use EVERYTHING from your previous shop.

• Amanda Steel (@amandasteel2000) teaming up with a friend for BOGOF offers

Easy, simple, cost effective. Perfect tip. We’re strong believers that collective buying can completely change your spending habits

• Saran Benjamin (@007bambam) Just say no

Prioritising your social calendar, and family commitments against your budget is key. So if Frankie Says Relax, Incahoot Says No.

Thank you for all your tweets. If we put all of them in to practice, this time next year we’ll all be millionaires!

Honest John

Well there we go. George Osborne’s budget has come and gone, and as expected, Tax was the dominating issue. The headlines will continue to surround the drop in higher level taxation from 50p to 45p in the pound. Although, having said that, I am sure the media won’t turn a blind eye to the figures surrounding public sector borrowing, which were double the City’s estimates for the month. Total borrowing for the year to date now sits at £110 million. This news is sure to complicate Britain’s already precarious AAA rating. Overall though, it was a fairly predictable budget with a lot of emphasis placed on both ends of the income scale, whilst remaining business friendly.

But what of the Squeezed Middle? Here at Incahoot, we were pleased to hear that the Chancellor will be increasing the personal tax allowance to £9,205 in 2013. This equates to a total disposable increase of £220 per year, which is a sizeable chunk of extra money during a period of well publicised austerity, and therefore shouldn’t go unnoticed. In another positive move, it was great news that the budget supported ultra-fast broadband in ten of Britain’s biggest cities, with an extra £50 million available on a retainer basis for smaller cities around the UK. Britain is not a front runner in the technology stakes, and greater technical advancement can only be seen as good thing. It is worth noting, however, that an investment of this kind needs to be supported by robust improvements in our general infrastructure for broadband, or we risk unsustainable advance.

On a less positive note, it was shocking that Mr Osborne did NOT cut VAT on household energy bills. In one clean sweep he could have lifted a significant amount of UK households out of fuel poverty. By ignoring this cut in favour of “Hollywood” policies, George Osborne has bowed to energy companies whose public perception has taken a deserved hit following EDF’s initial posting of massive profit. Had he cut VAT on household bills, the middle would have felt less squeezed in general, and the sense of ‘everyone working together’ would have retained the last of its validity. Instead we have been left with a budget that places the squeezed middle in a position resembling a social ‘Seven – Ten’ split.

Overall then, the budget was predictable. The large majority of the UK will be looking for support, and while there are definitely some positive measures, many will be unable to find the support they need. Ok, our tax allowance has increased, but the price of oil will continue to rise, and without the cut in VAT, this is a fiscal snack for the hungry middle class. It reinforces the need for all families to make sure they are banding together and supporting their communities, because the cost of living will continue to rise. We need to ensure that we save money were we can on household and high street bills, and at Incahoot we believe that most families can save around £2,000 per year this way, that’s nearly 10 times the benefit of the increase in tax allowances.

Honest John

At the end of last week Ella and I took over the Good Housekeeping Institute for the morning to carry out some personalised Concierge service money makeovers to some thoroughly lovely consumer journalists. What’s a ‘money makeover’? Well it’s exactly as it sounds, a makeover for your finances. We took each of the journalists core household bills and calculated how much they could be saving each year if they switched to a cheaper, group sourced deal.

Ella and I were quietly confident that we could produce some significant savings for our eager participants, but I don’t think either of us quite expected to rack up the totals that we did! The average saving was a whopping £428.41!

I know we all have very busy lives and it’s easy to put off switching providers as there is always something more pressing to do, but that’s why I absolutely love delivering money makeovers like this. We save people time as well as genuinely saving them money, it is great to see the shock on people’s faces when we relay the total saving, especially when you know that those kind of savings can turn out to be life changing.

If you’d like to see how much you could save simply by switching providers, all you have to do is send us your latest bills. It’s absolutely free, no catch, we just want to see if we can save you money.

Alex

For those not in know, Incahoot has joined forces with People Value, one of the UK’s leading employee benefits companies, to create a new shopping discount scheme, Incahoot PLUS. This new service offers members exclusive discounts, which are normally only accessed through employee benefits packages available to large corporations, across a range of supermarkets and high street shops.

Currently I’m renovating my house and preparing for the birth of my first child, so as you can imagine saving money is pretty high on the agenda! Being deal savy comes with the job and although I often shop online to get the best offers and deals, sometimes, especially with DIY shops, you need to go into a physical shop to know what you need. What has been great about Incahoot PLUS is that it brings the discounts I normally look for when shopping online, using cashback and vouchers, to the shops where I need to go into to purchase items. It means that now I don’t feel like I am losing out by shopping the old fashioned way.

To give you an example, I spent £400 on a B&Q reloadable card for a couple of new radiators and with cashback I made back my Incahoot PLUS joining fee in one go! This means any additional saving I make throughout the year is now a bonus!

Another of the big attractions of having an Incahoot PLUS card  is the savings you can make in the supermarket. I bought a reloadable card for my local supermarket and am now saving 5% on my weekly shopping, along with getting all my reward points, which makes for a double saving! This is really going to help keep costs down when the baby is here and our weekly shopping bills increase.

If you would like to sign up or check out some of the deals availaible, head over here and have a look. If you are already using the scheme then we would love to hear your experiences, don’t forget you can always tweet us or leave us a message on the Facebook.

Neil